Feeds

Commies copying West again as Vietnam plans own Silicon Valley

At least they didn't go with 'Digital Mekong' or something even lamer

Combat fraud and increase customer satisfaction

Over 35 years after the Vietnam war ended, the communist Asian state is looking to the good ol’ US for its inspiration with a new government backed initiative designed to make a success out of its emerging technology industry.

The Silicon Valley Vietnam (SVVN) project will see the government stump up an initial $400,000 in a bid to create an entire ecosystem, the like of which has served its Californian namesake so well.

According to a graphic seen by TechInAsia, this includes development of entrepreneurship; mentoring; seed capital; start-up accelerators; venture capital; and IPO support.

The project is also focused on commercialising scientific research in the way US companies do so well, and Vietnam has even invited experts from Silicon Valley to come and advise on the initiative.

It’s a nationwide project which will apparently begin with the creation of two start-up accelerators at either end of the country – one in Hanoi and the other in Ho Chi Minh city.

Other details are pretty sketchy at the moment but it’s certainly an ambitious plan from the Ministry of Science and Technology.

The name aside, it remains to be seen how successful a government-directed project could actually be in nurturing a Silicon Valley-style ecosystem.

Things work so well in the US precisely because there is minimal state interference, after all.

One thing that might discourage budding entrepreneurs in Vietnam is the increasingly menacing interference by the government in restricting its citizens’ online freedoms.

A couple of months ago, for example, the government introduced Decree 72, a new law which the Asia Internet Coalition at the time warned “will stifle innovation and discourage businesses from operating in Vietnam”.

Just this week a 30-year-old man was placed under house arrest after campaigning on Facebook for the release of his brother from prison.

The country has nevertheless been on a relentless drive of late to turn itself into an advanced ICT nation.

Danang is at the centre of these efforts, having worked extensively with IBM to create a smart city project. It has also been helped by Intel, and in August launched an Information Technology and Communication Infrastructure System.

Vietnam’s IT ministry is predicting the enterprise IT market in the country could soon be worth over $1 billion. ®

Top three mobile application threats

More from The Register

next story
Lavabit loses contempt of court appeal over protecting Snowden, customers
Judges rule complaints about government power are too little, too late
Don't let no-hire pact suit witnesses call Steve Jobs a bullyboy, plead Apple and Google
'Irrelevant' character evidence should be excluded – lawyers
EFF: Feds plan to put 52 MILLION FACES into recognition database
System would identify faces as part of biometrics collection
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Edward Snowden on his Putin TV appearance: 'Why all the criticism?'
Denies Q&A cameo was meant to slam US, big-up Russia
Ex-Tony Blair adviser is new top boss at UK spy-hive GCHQ
Robert Hannigan to replace Sir Iain Lobban in the autumn
Judge halts spread of zombie Nortel patents to Texas in Google trial
Epic Rockstar patent war to be waged in California
German space centre endures cyber attack
Chinese code retrieved but NSA hack not ruled out
APPLE FAILS to ditch class action suit over ebook PRICE-FIX fiasco
Do not pass go, do cough (up to) $840m in damages
Whoever you vote for, Google gets in
Report uncovers giant octopus squid of lobbying influence
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.