Microsoft Vietnam and Vietnam Silicon Valley (VSV) have signed a memorandum of understanding on supporting and developing information and technology application for the country's startup community.
According to the MoU signed on September 26, the two sides will co-operate to develop and upgrade key sectors in building the startup ecosystem.
VSV and Microsoft Vietnam hope to boost co-operation to support startup activities in Vietnam.
VSV will play the role of a startup accelerating organisation, while providing consultation, funds and selecting startup enterprises for the programme.
Meanwhile, Microsoft Vietnam will play the role of a technology consultant and supporter to help build solutions on cloud platforms and introduce VSV startup products.
VSV is an initiative of the Ministry of Science and Technology and the Vietnamese Government.
The project seeks to create an ecosystem of innovations and technology commercialisation in Vietnam by combining the Vietnamese people's entrepreneurial spirit and innovative nature with the most successful practices that the United States has to offer in startup development and mentoring, accelerators, and venture capital funding and investing.
The project marks the beginning of a dynamic and exciting ecosystem for technology entrepreneurship and startups in Vietnam with the application of Silicon Valley-tested training and development programmes and networks of mentors from Silicon Valley to stimulate the growth of Vietnam's startups.
Notably, VSV Accelerator, which was started in 2014, has become an incubator for more than 40 startups, including Lozi, TechElite, LoanVi and Schoolbus.