UEH is to promote an Innovation Startup Ecosystem Towards Sustainable Community Values

25 Jan, 2025

The University of Economics Ho Chi Minh City (UEH), one of the pioneering higher education institutions in promoting innovation and entrepreneurship, is committed to sustainable action with the 17 Sustainable Development Goals of the United Nations. By integrating education, innovation and international cooperation, UEH has been creating a dynamic ecosystem that not only empowers startups but also addresses important global challenges.

In 2024, UEH's startup and innovation ecosystem continues to create a favorable environment to nurture and to support young entrepreneurs and initiatives that create social impact. With comprehensive support, 32 startup projects were successfully incubated, including 15 projects from the UII Sandbox program exclusively for students and 17 from the UII Incubation program. These startups were not only provided with 24 intensive training courses but also given the opportunity to connect, consult, and solve practical problems through 126 meetings and 154 requests for support.

A notable highlight was the UIIxBASIC DEMO Day, where startup projects captured investors’ attention and secured $6,600 in non-reimbursable grants. A standout success was TagEdu, an ed-tech startup, which received an investment of VND 1.5 billion, showcasing UEH’s ability to connect innovative ideas with financial resources effectively. Additionally, the "FinTechNovation Credentials" program, with a total budget of SGD 50,000, created opportunities for 1,000 students from over 10 Vietnamese Universities to develop comprehensive skills in finance, technology, and innovation. The program not only provided knowledge but also equipped participants with practical skills to become global citizens.

Startups were presenting to the Jury at the UIIxBasic DemoDay 2024 event

6 Startups from the Institute of Innovation received USD 6,600 in non-refundable funding at the UII Basi Summit 2024 Closing Ceremony - an activity in the Future Founders Fest 2024 event series

Assoc.Prof.Dr. Phan Thi Bich Nguyet - Chairwoman of the UEH Strategy and Policy Advisory Council and Director of the Institute of Innovation – as Chairman at the Policy Discussion on Building a Favorable Ecosystem for Youth Entrepreneurship within the framework of the Future Founders Fest 2024 event

Developing initiatives, promoting innovation and startup activities

UEH always prioritizes promoting sustainable economic growth through initiatives to support students in engaging with practical work environments and solving business problems. The Institute of Innovation (UII) - a unit under UEH’s administration - is assigned by the Department of Science and Technology of Ho Chi Minh City to incubate and to accelerate innovative startups according to Resolution No. 20/2023/NQ-HDND of the People's Council of Ho Chi Minh City with the theme "Digital transformation towards sustainable development". The Fintech Master Class program, including basic and advanced classes, has helped students increase their job opportunities and improve their skills and professional knowledge in the field of financial technology. In addition, UEH supports innovation initiatives through programs like Finnovation Bootcamp, attracting more than 300 students and many experts from prominent financial companies and corporations (UOB Bank, Momo, Blockbase Ventures and more); successfully developing 15 innovation projects in fintech. UEH’s contributions were further evidenced by the recognition of its incubated startups in major competitions, like the Top 100 Startup Wheel 2024, where projects like Vizion and Senonika achieved top honors for their creative contributions.

Final Pitching - Part of the Finnovation Bootcamp 2024 series

Promoting entrepreneurship and sustainable development at UEH is not only an academic goal but also a journey of profound transformation for students. In 2024, UEH organized more than 50 seminars, workshops, and talk shows in Ho Chi Minh City and Vinh Long Province, attracting the participation of more than 30,000 students. These opportunities help learners accumulate knowledge, skills, and thinking to become influential innovators. Three outstanding competitions of the year, including Startup Zone 2024 - ECOTECH, C2C - GREENTECH, and Dynamic UEH Challenges, have made important contributions to the development of innovative solutions, focusing on green technology and the sustainability of the University ecosystem. UEH not only integrates sustainability into startup activities but also encourages startups to develop business models associated with the circular economy and green technology applications.

Building partnerships aimed at achieving sustainable development goals form a crucial foundation for UEH’s success in developing its innovation ecosystem. In June 2024, the Mekong Delta Center for Innovation and Entrepreneurship (MCIE) was established to strengthen connections among entrepreneurial and innovative entities in the Mekong Delta region. The center has hosted in-depth workshops on design thinking and innovative entrepreneurship for over 150 teachers and high school students. Among these, three student projects supported by MCIE excelled and received top awards in competitions organized by Vinh Long Province.

UEH has also been proactive in expanding cooperation with domestic and international partners to organize impactful events. Notable examples include the Digital Security Hackathon (April 2024), in collaboration with UNDP Vietnam, the Dutch Embassy, Youth Co:Lab, and the Future Founders Fest (December 2024), co-organized with Youth Co:Lab, NSSC, and BSSC. These events not only provide opportunities for UEH students and the entrepreneurial community to connect with like-minded partners but also nurture innovative ideas and sustainable technological solutions. As an active member of the Asia University Network – University Innovation and Entrepreneurship, and the Vietnam National Network of Entrepreneurial and Innovative Universities (VNEI), UEH plays a pivotal role in sharing models, and resources, and fostering collaboration among members to build the national and regional innovation ecosystem. In this regard, UEH Institute of Innovation (UII) has been recognized as one of Vietnam's most systematic and high-quality startup incubation initiatives, helping develop promising and highly effective entrepreneurial projects.

Notably, within the framework of the Future Founders Fest 2024, UEH and Youth Co:Lab announced the National Research on Youth Startup Ecosystems. This marks a significant milestone in identifying challenges and opportunities for young entrepreneurs. This research serves as a roadmap, supporting policy development and reinforcing the necessary support systems to help youth thrive in the entrepreneurial field. Moving forward, the research findings will serve as a basis for UEH to implement targeted initiatives and to promote policy reforms to enhance the quality of Vietnam's innovation ecosystem.

Launch Ceremony of the National Research on Youth Startup Ecosystems in Vietnam at the Future Founders Fest 2024

This year, for the first time, UEH joined the Asian Universities Network in partnership with the German Federal Ministry for Economic Cooperation and Development (BMZ) for the Digital Skills to Succeed (DS2S) project. UEH will develop and implement the Digital Entrepreneurship Course in India, Bangladesh, and Vietnam, equipping students, especially women, with essential digital skills to succeed in the global labor market. This course not only fosters Vietnam’s digital transformation agenda but also prepares students to lead in an inclusive and sustainable digital economy. Furthermore, UEH students will have the opportunity to collaborate with 25 students from Singapore Management University (SMU) through the SMU-XO Digital Business program. This program allows students to engage in real-world projects, applying digital business strategies to address local issues while experiencing cultural exchange in Vietnam. This is a crucial stepping stone for students to harness their innovative capacities and to contribute to sustainable community development.

Meeting with the German Federal Ministry for Economic Cooperation and Development (BMZ) on the Digital Skills to Succeed (DS2S) Project

Affirming UEH's Pioneering Role in Developing the Innovative Startup Ecosystem

Reflecting on 2024, UEH continues to affirm their leadership in innovation and sustainable development through a series of noteworthy achievements as follows:

Organizing over 50 workshops, hackathons, and competitions, attracting thousands of students and experts from various fields, fostering an environment of learning and creative exchange.
UEH-supported projects likeBeloved and Beyond have expanded their operations to four Southeast Asian countries, highlighting their robust growth and global potential. Other projects, including Holo Speak, Tag Edu, Đây Là Đâu, Rebo, and Tikera, have secured seed funding to further develop their markets. The SSVN project was recognized as a pioneering SME under the SIB-supported enterprise collaboration program.
The Institute of Innovation successfully mobilized $138,000 in funding, raising the total seed investment to $638,600, demonstrating the tangible value and effectiveness of UEH’s entrepreneurial support system.

The year 2024 also marks the fifth anniversary of UEH’s establishment of their innovation ecosystem, ushering in a new phase of development with significant milestones expected in 2025 and a vision extending to 2030. UEH aims to expand interdisciplinary innovation projects and to strengthen international partnerships. The incubator of the Institute of Innovation will continue connecting financial resources and providing commercial consultation for technological solutions, particularly in sustainable development, to drive creativity and innovation. Additionally, UEH aspires to become a leading regional innovation hub, promoting new initiatives and partnerships in the Southwest, Southeast, and South-Central regions, contributing to the development of a science- and technology-driven economy oriented toward sustainable growth.

5th Anniversary of UEH Institute of Innovation

Prof.Dr. Nguyen Dong Phong - Chair of the UEH University Council, sharing at the 5th Anniversary of the Institute of Innovation

UEH’s innovation ecosystem exemplifies how a university can integrate education, entrepreneurship, and sustainability to drive meaningful change. By aligning entrepreneurial and innovation activities with the United Nations Sustainable Development Goals (notably SDG 1, 8, and 17), UEH not only fosters creativity but also ensures that their initiatives contribute to a more inclusive and sustainable future. With a clear vision and proven results, UEH continues to inspire, to empower, and to innovate for the benefit of the communities and the society.

New, photos: UEH Institute of Innovation