Microsoft Vietnam, Vietnam Silicon Valley sign MoU

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.

The VSV and Microsoft Vietnam hope to boost cooperation to support startup activities in Vietnam. According to the MoU, the two sides will cooperate to develop and upgrade key sectors in building the startup ecosystem. Microsoft Vietnam will provide assistance for the VSV’s most potential start-ups in the form of training, consultancy, technological support and product launches.

The VSV is a project backed by the the Ministry of Science and Technology and the Vietnamese Government which was established in 2013 with the aim of replicating some of the best practices of the Silicon Valley in the US to develop tech start-ups.

In the partnership with Microsoft Vietnam, the VSV will act as 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.

The VSV and Microsoft Vietnam 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.

Notably, the VSV played the role of an incubator for more than 40 Vietnamese start-up projects, including food-finder app Lozi, enterprise utilities platform TechElite and education site Schoolbus.