Dual transformation can empower innovative startups

The event was organised by the Ministry of Science and Technology (MoST) and attracted numerous domestic and international experts and businesses interested in sustainable development based on green and digital transformation.

During the workshop, experts shared their practical experiences, providing in-depth analysis of the opportunities and challenges that innovative startups face when participating in the Fourth Industrial Revolution and moving towards a sustainable economy.

Speaking at the event, Pham Hong Quat, director of the National Agency for Technology Entrepreneurship and Commercialisation Development under the MoST, said, "The Fourth Industrial Revolution has brought numerous opportunities for businesses, especially for innovative startups."

Pham Hong Quat, director, National Agency for Technology Entrepreneurship and Commercialisation Development. Photo: MoST

Digital transformation not only helps businesses enhance production and management efficiency, but is also an important tool for creating new value that can quickly and flexibly respond to market demands. Vietnam is aiming to transform its growth model towards greening economic sectors, applying circular economic models through careful and efficient exploitation and use of natural resources and energy based on scientific and technological platforms, applying digital technologies and digital transformation.

"Therefore, dual transformation is one of the crucial solutions helping Vietnamese businesses ensure business objectives, implement sustainable development goals, and more effectively leverage their resources," Quat said.

In a discussion panel on dual transformation, Dr. Pham Thi Hong Phuong, leader of Ecotech Community said, "As an expert who has accompanied and implemented many practical activities supporting businesses, I see many businesses today seizing opportunities in digital and green transformation, targeting inclusive values to change management models and production processes."

Nguyen Van Minh Tam, Mekong Delta Regional manager at ALOFISH Seafood Trading Co Ltd., believes that in the current context, the requirement for digital and green transformation for businesses is urgent to enhance competitiveness and sustainable development. However, the implementation process faces numerous challenges, from technology investment to changing human resource perceptions.

"Businesses, especially small- and medium-sized enterprises, desperately need support from experts and management agencies to overcome these challenges. Close cooperation will help businesses quickly adapt, innovate, and develop," said Tam.

Nguyen The Tung, owner of Queen Farm, said, "Green agriculture and applying digital technology in agriculture are two closely interrelated fields. Applying technology in production, such as intelligent irrigation systems and data management, not only helps improve productivity but also ensures environmental friendliness. Meanwhile, green transformation helps enhance international market competitiveness, meeting increasingly high customer requirements for food quality and safety."

Solutions that combine local strengths with domestic and international resources are being pursued to develop local startup support centre systems nationwide, according to speakers at a policy forum at TECHFEST 2024, organised by the Ministry of Science and Technology (MoST) in Haiphong on November 26.

The National Innovation and Startup Festival (TECHFEST) 2024 is poised to be a pivotal event, promoting Vietnam's innovative startup movement.

The final round of the National Creative Startup Talent Search Competition of TECHFEST Vietnam 2024 took place on November 26 in Haiphong, organised by the Ministry of Science and Technology.