Innofund incubator to receive support from Ministry of Science and Technology.
Minister of Science and Technology Nguyen Quan officially launched a fund to support the Innofund technology incubator on September 25. Innofund is a key part of the Business Incubators Policy Project (BIPP) project.
It will mainly provide non-refundable financial support to feasible projects from organizations and individuals in the application of high technology and startups and projects in science and technology. Innofund will provide finance for each project ranging from EUR15,000 ($16,791) to EUR45,000 ($50,375).
The launch is part of the BIPP project, worth a total of EUR4.4 million ($4.92 million), of which EUR4 million ($4.47 million) was sourced from the Belgium Government’s non-refundable official development assistance (ODA), while the remaining amount will be sourced from Vietnam’s reciprocal capital.
According to Minister Quan, Vietnam has about 50 technology incubators at universities, enterprises, and high tech park, such as the Hanoi University of Science and Technology, the FPT Group, and Hoa Lac High Tech Park.