Le Tien Chau articulated the necessity for student entrepreneurship in Vietnam to evolve from a mere symbolic initiative to a results-driven endeavor. He underscored the importance of redirecting focus from mere concepts to actual products and transitioning from educational spaces to market realities, ensuring that innovative ideas yield tangible benefits.
These statements were made during the 8th National Student Entrepreneurship Day at the Banking Academy in Hanoi, which gathered around 10,000 students, industry experts, and stakeholders over a span of three days. This event characterized Vietnam's intensified dedication to fostering innovation and supporting youth-led startup initiatives.
The festival featured a variety of activities including an entrepreneurship forum, project showcase, investment networking, and the finals of the “Students with Entrepreneurship Ideas” competition. Additionally, it marked the launch of the “Support for Student Entrepreneurship Program 2026–2035,” aimed at enhancing sustainable startup growth and offering structured assistance to young innovators.
The high turnout highlighted a shared commitment to innovation, the promotion of a startup culture, and the advocacy for youth-oriented initiatives. It underscored the significance of providing opportunities for students to turn their innovative ideas into viable and scalable business ventures.
The Deputy Prime Minister emphasized that bolstering student entrepreneurship transcends educational aspirations; it is a strategic national priority. He affirmed that a robust innovation ecosystem, coupled with a creative and skilled youth workforce, is vital for achieving sustainable economic advancement and maintaining a competitive edge in the global market.
In the past eight years, Vietnam has marked significant achievements in this domain, seeing approximately 300 student-led startups emerge. Many of these projects have transformed into full-fledged businesses, secured investments, and penetrated markets, especially in sectors such as green tech, biotech, and digital health.
However, challenges persist, as some startup initiatives lack depth and do not resonate strongly with market needs. Moreover, there are shortcomings in existing support frameworks and insufficient coordination between educational entities, businesses, and investors, which could impede the potential of promising concepts.
To tackle these challenges, the government has implemented crucial policies, including Decision No. 336/QD-TTg and the National Strategy for Innovative Entrepreneurship, which aim to cultivate a more nurturing environment for startups and position innovation as a cornerstone of national development.
The Deputy Prime Minister called for collaborative efforts across ministries, educational institutions, businesses, and organizations. He encouraged students to prioritize ongoing learning and growth over mere competition outcomes, focusing on translating their ideas into meaningful contributions that serve society and the nation.
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