Future Founders Fest 2024 Calls for Greater Support for Youth Entrepreneurship in Viet Nam
10 Dec, 2024
Ho Chi Minh City, 5 December 2024 - Future Founders Fest 2024 concluded successfully on 4-5 December, bringing together young innovators, policymakers, entrepreneurship support organizations and investors to showcase youth-led social innovations and launch a landmark study on Viet Nam’s youth entrepreneurship ecosystem.
The event was co-organized by Youth Co:Lab Viet Nam (a joint initiative by UNDP and Citi Foundation) and the University of Economics Ho Chi Minh City (UEH). The event is honored to welcome leaders from various central and local ministries, departments, and agencies, including: Mr. Tu Minh Hieu – Deputy Director of the National Startup Support Center, Ministry of Science & Technology; Ms. Le Thi Be Ba – Deputy Director of the Ho Chi Minh City Innovation Startup Center; Ms. Nguyen Thi Dieu Hang – Director of the Business Startup Support Center (BSSC), Vice President of the Ho Chi Minh City Young Business Association (YBA).
From the United Nations Development Programme (UNDP), the event is privileged to have the presence of: Mr. Savinda Ranathunga – Regional Youth Project Manager, United Nations Development Programme Asia and the Pacific; Ms. Tran Thi Bao Anh – Head of Innovation, UNDP Vietnam; Ms. Pham Thu Trang – Officer for Youth Entrepreneurship and Innovation, UNDP Vietnam.
Additionally, the event has attracted the attention and participation of experts in the ecosystem, including: Mr. Ramachandran A.S. - Citi County Officer and Banking Head, Citi Vietnam ; Ms. Do Xuan Hanh – Director of Communications and External Affairs, Citibank Vietnam; Mr. Nguyen Trung Dung – CEO of BK-Holdings, Hanoi University of Science and Technology; Dr. Phung Lan Huong – External Affairs Director, BK-Holdings, Hanoi University of Science and Technology; Ms. Nguyen Do Thu Minh – Head of Corporate Innovation at the Fulbright Center for Entrepreneurship and Innovation; Mr. Tran Tri Dung – Hanoi Regional Manager for the Swiss Entrepreneurship Program (Swiss EP); Ms. Ly Phan – Co-founder and Marketing Director of PlayAh! Vietnam.
From the University of Economics Ho Chi Minh City (UEH), the event is honored to welcome: Assoc. Prof. Bui Quang Hung – UEH Vice President; Assoc. Prof.Phan Thi Bich Nguyet – Chairwoman of the Advisory Council, Director of the Institute of Innovation; Assoc. Prof. Trinh Thuy Anh – Vice Rector of UEH College of Technology and Design; Assoc. Prof. Nguyen Thi Hong Nham –Vice -Director of the Institute of Innovation; MBA. Nguyen Thi Phuong Thao – Vice-Director of the Institute of Innovation.
With over 300 participants, the Future Founders Fest 2024 championed youth-driven solutions for sustainable development. Recognizing the vital role of young people in addressing pressing social and environmental issues, the event aimed to empower these changemakers and strengthen networks that support their ventures. Key moments included the BASIC x UII Summit, which featured impactful projects by youth-led startups, and the launch of the National Study on the State of the Ecosystem for Youth Entrepreneurship in Viet Nam, offering essential insights to shape inclusive policies.
“Future Founders Fest 2024 reflects our shared commitment to empowering young innovators and fostering impactful partnerships. At UEH, we believe that collaboration across sectors is key to unlocking the potential of youth-led entrepreneurship, and we are honored to contribute to creating an ecosystem where young changemakers can thrive and make a lasting difference.”, Assoc. Prof. Bui Quang Hung, Vice President of UEH shared at the event.
“The National Diagnostic Study on Youth Entrepreneurship we launched at this year’s Future Founders Fest is a crucial step in understanding the challenges and opportunities within the youth entrepreneurship ecosystem,” said UNDP Deputy Resident Representative Patrick Haverman. “The study will help guide our work, inform policies, and strengthen the support systems that young entrepreneurs need to thrive.”
This pioneering study offers actionable recommendations for policymakers, investors, and support organizations to create a more inclusive ecosystem. By mapping pathways and identifying barriers, the study aims to empower young entrepreneurs in advancing Viet Nam’s socio-economic development.
“At this event, we witnessed the incredible potential of young entrepreneurs. By supporting their dreams and fostering innovation, we are not just investing in their future but in a brighter future for all” said Ramachandran A.S. (RamC), Vietnam Citi Country Officer and Banking Head.
The event also spotlighted the BASIC initiative, a multi-phase program, co-led by Youth Co:Lab Viet Nam and Lead The Change, with strategic support from the Singapore Global Network. Engaging over 2,000 young people in its early phases, BASIC has promoted SDG awareness and social entrepreneurship through targeted training and incubation. Nearly 500 youth were directly trained through Thinkathons held in Ha Noi, Hue, and Vinh Long, resulting in the incubation of 10 student-led innovations under the BASIC initiative.
Additionally, through collaboration with UEH Institute of Innovation, 10-15 teams will be supported in their upcoming incubation program starting this December. At the UIIxBASIC National Summit, a total of 22 youth-led teams—10 from the student track and 12 from the startup track—showcased their innovative solutions, addressing critical challenges across Viet Nam.
The festival further highlighted the critical role of youth entrepreneurship in advancing sustainable development in Viet Nam. Key takeaways included the need for stronger policy support, expanded funding opportunities, and enhanced collaboration among stakeholders to create a more inclusive and dynamic entrepreneurial ecosystem.
Moving forward, the insights from the National Study will inform targeted initiatives and foster policy reforms. Youth Co:Lab Viet Nam and UEH remain committed to leveraging the festival’s momentum to foster opportunities for young innovators nationwide.
Additional photos regarding the ceremony:
News and photos: UNDP Vietnam, UEH Institute of Innovation
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About Youth Co:Lab
Co-created by UNDP and Citi Foundation, Youth Co:Lab is the largest youth social entrepreneurship movement in Asia and the Pacific, empowering young people to accelerate the implementation of the Sustainable Development Goals (SDGs) through innovation and entrepreneurship. Launched in Viet Nam in 2018, Youth Co:Lab collaborates with government, civil society, and the private sector to strengthen the entrepreneurial ecosystem and support youth-led solutions to pressing social challenges.
About University of Economics Ho Chi Minh City (UEH)
The University of Economics Ho Chi Minh City (UEH) is one of Viet Nam's leading institutions, renowned for its contributions to research, education, and policy in economics and business. With a strong commitment to fostering innovation and entrepreneurship, UEH partners with local and international organizations to equip students and young entrepreneurs with the skills needed to thrive in a dynamic economy. Through initiatives like UEH-UII (University of Economics Ho Chi Minh City Innovation Institute), UEH supports the next generation of changemakers in driving Viet Nam’s sustainable development.
