Mechanism of crowdfunding for innovation activities

In the afternoon of February 21, 2023, a focus group discussion on “Mechanism of crowdfunding for innovation activities” was held in Ho Chi Minh City by Vietnam National Innovation Center (VNIC) under the Ministry of Planning and Investment (MPI). This discussion was chaired by Mr. Do Tien Thinh – Deputy Director of VNIC. This discussion was attracted the representative of the Authority for Enterprise Development under the MPI, representatives from start-ups, crowdfunding platforms, lawyers, banking and financial experts.

Mr. Nguyen Hung Quang, Managing Partner of NHQuang&Associates presented a study on the legal framework and practice of crowdfunding in Viet Nam. The study has made a number of comments and policy recommendations for innovation activities in Vietnam. The discussion received a lot of comments from the participants to continue to improve the legal policy for the crownfunding mechanism in order to find a solution for improving several development mechanism for innovation in Viet Nam.

This research is supported within the technical assistance framework of the project “Improving Private Sector Competitiveness” (IPSC) funded by USAID and managed by MPI.