Intermediaries need assistance to develop sci-tech market

A lack of effective intermediary organizations which can connect inventions with the market is a problem for the development of Vietnam’s sci-tech market, heard a conference in Ho Chi Minh City on November 14.

There are eight technology transaction floors, 63 centers for technology application and development, and 43 technology incubators and sci-tech businesses in Vietnam, according to the Department for Development of Science-Technology Market and Businesses under the Ministry of Science and Technology.

Such events as technology-equipment fairs and technology startup festivals have positively affected the domestic sci-tech market. Technology transaction floors have proved effective in Ho Chi Minh City, Hai Phong city and Bac Giang province.

Deputy Minister of Science and Technology Tran Van Tung speaking at the conference

The total value of technology transactions exceeded VND 13.7 trillion (USD 613.7 million) between 2011 and 2015, up threefold from the 2006-2010 period, the department said.

Department Deputy Director Pham Duc Nghiem said the connection between researches and the market, between scientists and businesses remains weak. Existing intermediary organizations (such as mediators, consultants and examiners) have yet to effectively connect supply and demand or be active enough in technology transfer.

Aside from traditional intermediaries like technology transaction floors, technology fairs, and technology application and development centers, new forms have emerged such as business accelerators and co-working space. Most of them are located in big cities like Ho Chi Minh City, Hanoi, Da Nang and Can Tho.

Nghiem said the appearance of those new intermediaries has fuelled a new start-up and innovation wave in Vietnam.

To raise the sci-tech market’s effectiveness, it is necessary to push ahead with measures to develop traditional intermediary organizations, especially those at universities and research institutes, said Deputy Minister of Science and Technology Tran Van Tung.

He also underlined the need for stronger support for new intermediaries like business accelerators, start-up clubs, and technology and business incubators.