Actions to Accelerate Success in Private Sector Innovation for Export Markets, Vietnam
New, innovative growth companies focused on export markets comprise one of the target groups of the Innovation and Partnership Programme (IPP) in Vietnam, financed by Ministry for Foreign Affairs Finland.
Set up based on demand, the intervention enabled start-up companies to experiment on “fast” solutions to compete in the international market. IPP made funds available to single start-up companies or those in a consortium undertaking sub-projects through a competitive grant application process.
Besides fund support, IPP provided coaching and mentoring services to guide the companies on the grant application process and on the practical aspects of preparing a business plan. Successful companies further benefited from targeted capacity building activities which is unique in Vietnam and which inspired IPP to establish a coaching and mentoring programme. The programme consists of a two-month boot camp and eight months of on-the-job training targeted to meet the needs of the companies. IPP produced a total of 12 business coaches equipped with knowledge and skills in assisting start-ups with an export orientation.