InnoEx 2023: a launchpad for Vietnamese enterprise innovation

From August 24 to 25, more than 2,000 international experts, entrepreneurs, thought leaders, and influential investors from Korea, Japan, Hong Kong will gather in HCMC for the international event InnoEx, making it the year’s largest innovation event.

The top-tier experts, such as entrepreneurs, business executives, investors, and politicians, will join as speakers at InnoEx 2023, from August 24 to 25, 2023. Photo courtesy of InnoEx 2023

Vietnam - a rising star in innovation

Vietnam is currently poised as an alluring destination for startups and innovation with increasing investment, a thriving community of entrepreneurs, and a focus on disruptive business initiatives.

According to annual reports on innovation and entrepreneurship conducted by Do Ventures and StartupBlink, Vietnam's startup ecosystem has risen from fifth to third place among the top six Southeast Asian economies, behind Indonesia and Singapore.

Several tech giants, including Google, Microsoft, and others, have recently shown their bullish mood for Vietnamese businesses by launching programs that support innovation and entrepreneurship in the emerging market.

In addition, 50 domestic and international investment funds, 200 enterprises, and startups from 33 countries will attend the event, bringing cutting-edge and pioneering technologies as well as innovative business models.

With more than 20,000 participants, InnoEx 2023 is expected to be a market-stimulating catalyst and a long-awaited reunion for enterprises to discuss innovative and ground-breaking business models in a demanding and ever-changing business environment.

Unveil innovation model

"We talk a lot about innovation, but not all businesses have a thorough understanding and effective application of it", said Albert Antoine, a digital transformation expert and InnoEx advisor board.

Albert Antoine, Advisor to the Singaporean Government, Co-Founder, CEO of Avaiga.com, and InnoEx advisor board. Photo courtesy of InnoEx 2023

He is a strategic advisor on innovation, artificial intelligence (AI), and data science for the Singaporean Prime Minister's Office and many major Asian corporations.

Singapore's track record of innovation is the result of supportive government policies that facilitate innovative ideas being quickly tested and then put into practice.

"Meanwhile, Vietnamese businesses still struggle to raise funds, which is the bottleneck to innovation. They must build products from scratch and seek financing to maintain business at the same time. Some learn and copy the business models of foreign companies, but this is not a core innovation", said Albert Antoine.

The innovation case study of Singapore on the stage of InnoEx, both its success and failure, will provide practical lessons for Vietnamese businesses, especially in the midst of the digital transformation.

According to Steven Truong, Founder and CEO of VinBrain, the collaboration between large companies and startups also creates an innovation model that has been proven to be a resounding success.

Steven Truong, Founder and CEO of VinBrain and advisor to InnoEx 2023. Photo courtesy of InnoEx 2023

He has led multi-development center teams at Microsoft and has been a key innovation initiator for AI products that have been used by millions of users worldwide, such as Email Smart Reply and iRanker. He will also be among the keynote speakers at InnoEx 2023.

OpenAI and Microsoft's ChatGPT are examples of the corporate-startup model, leveraging startups' can-do attitude and rapid deployment.

"Vietnam should promote a platform that connects corporations in need of innovation with dare-to-do startups to jointly make a breakthrough", he said.

InnoEx 2023, focusing on Innovation and the green economy, will provide international perspectives on the model, guiding Vietnamese enterprises in promoting innovation and reinventing business models.

Opportunities for innovation from InnoEx 2023

Key factors contributing to the success of the innovation model will also be highlighted at the event. It features 200 companies, the Vietnam CEO Forum, the InnoEx Forum, the Investment Zone event, and the Startup Wheel, featuring the top 100 startups.

This will grant a five-year corporate income tax exemption to innovative start-up businesses, science and technology organizations, creativity centers, and supporting startups.

Highlights will include the exhibition, where 200 companies will showcase their innovative technologies and products; thought-provoking topics discussed at the Vietnam CEO Forum and InnoEx Forum; the Investment Zone event, with 50 investors and investment funds attending; and Startup Wheel, an arena of the top 100 Vietnamese and international startups.

There will also be the Green Innovation Fellowship program, which supports businesses to pursue green growth, and the Talent Hub, where universities and educators converge with the aim of incubating a new innovation generation.

The InnoEx Forum brings experts, entrepreneurs, and investors together to discuss innovation and business recommendations. There will also be a two-day exhibition that showcases smart products, services, solutions, and technologies, featuring Innovation Talks case studies for business inspiration.

InnoEx 2023 aims to foster cooperation across industries by hosting business networking activities, including the Investment Zone, for startups and investors.

It will also host Startup Wheel, the largest startup competition in Vietnam, and the Startup Pitch, featurin 110 promising international startups and tech companies.

The Green Innovation Fellowship program aims to discover, facilitate, and implement green innovation and sustainable solutions, establishing a network of businesses with a common goal of sustainable development.

With a global and comprehensive innovation approach, InnoEx is expected to unleash resources for innovation and spread the spirit of creativity, commitment, and innovation in the Vietnamese business community to reach new heights.

The impact of InnoEx is empowered by organizers, who are influential figures in the business and startup community, including Truong Ly Hoang Phi, Head of Organizing Committee for InnoEx, chairwoman and CEO of IBP; Le Tri Thong, InnoEx advisor, vice chairman and CEO of PNJ; and Nguyen Thi Dieu Hang, InnoEx Organizing Committee, CEO of BSSC.

InnoEx aims to be a prestigious annual event that has a strong impact on the community, supporting businesses to create breakthroughs and sustainable development.