Call for Innovation Financiers in Vietnam: Coaching for Innovation Funding Process Design and Implementation

The Vietnam-Finland Innovation Partnership Program (IPP) calls for Innovation Financiers in Vietnam to submit Expressions of Interest for coaching support from Finnish innovation finance experts. As a starting point they will share the IPP tested funding cycle in Vietnam. Support is targeted to organisations that are designing and implementing innovation funding calls for companies and other organisations in Vietnam. Up to 5-7 financing organisations, either public or private, will be selected for support, which will run from January to June 2018. Coaching support will types to the current needs of the chosen financing organisations.

Call for Innovation Financiers banner

 

This call has been closed

The deadline for Expressions of Interest is December 21st, 2017.

 

I. Introduction

Since 2015, IPP2 has implemented grant support programs in Vietnam for young innovative companies and innovation ecosystem development consortiums with the aim of demonstrating global best practices in innovation funding. IPP’s grant instrument has been tailored to Vietnamese needs and it draws particularly from best practices in Finland, namely the processes of the Finnish Funding Agency for Innovation Tekes. Tekes provides around €500+ million public innovation financing annually to Finnish startups, SME’s, large companies, universities and public service providers in the form of grants and loans in addition to various forms of network and other soft support. Tekes has a central role in forwarding renewal of industries and the Finnish economy as a whole.

In Vietnam, IPP has designed and documented a 2-phased grant funding instrument and related process that has been tested and demonstrated by organising two major open calls for proposals. These calls have led to the selection of 18 new high-growth potential company projects and 14 innovation and entrepreneurship ecosystem development projects. IPP’s funding instrument covers the whole process from applicant activation to running the open call, independent evaluation of applicants, contracting to monitoring of project implementation (view graph below).

funding-process

In addition to its own calls, IPP facilitated in 2016 the design and implementation of a joint call for Finnish-Vietnamese company projects between Tekes and Vietnam’s National Technology Fund Natif.

With the target of further sharing innovation funding knowledge and Finnish best practices to Vietnamese funding organisations, IPP offers a resource of two Finnish experts that have several years of experience working at Tekes and IPP in innovation funding process design and implementation to provide hands-on and remote coaching in Spring 2018 for 5-7 innovation financiers that are operating in Vietnam and provide funding for Vietnam-based innovation projects.

 

II. Objective of the Call

The objective of the call is to transfer IPP’s funding instrument (or relevant parts of it) and innovation financing know-how of Tekes to interested funding organisations in Vietnam. The target is that after the support, financiers would be better equipped to run successful innovation funding rounds in Vietnam; find good cases to fund, perform open and transparent project evaluation and ensure successful implementation of the project and correct flow of funds. Preferably the support can be geared to working hands-on on designing an upcoming call of the Vietnamese funding organisation.

 

III. Eligibility

Support is targeted to organisations that are funding innovation projects in Vietnam. The funding organisations can be either public or private and there is no limitation to the type of innovation projects they support (startup, R&D, growth acceleration, etc.) and for whom they provide funding for (startups, SME’s, large companies, universities, public service providers). Instruments can vary from various forms of grants to loans.

A minimum of two key experts in charge of designing and implemented funding instruments must be assigned from each participating Vietnamese funding organisation to take part fully in the support.

 

IV. Support offered and timeline

The Finnish experts will provide hands-on and remote coaching in Spring 2018 for 5-7 innovation financiers that are operating in Vietnam. Online and offline documentation of IPP’s and Tekes’ instruments and best practices will be shared. Financiers will be worked with separately and based on the ongoing and future needs of the organisation at hand. Preferably support can be targeted towards the design and implementation of a future innovation funding call or broader funding program that is currently under planning.

 

Timeline

21.12.2017

Deadline of Expressions of Interest

27.-29.12.2017

Evaluation and needs assessment discussion with Finnish coach; assessing relevance of needs to available support, defining scope of support

First week of January 2018

Selection of funding organisations for support

22.-26.1.2018

Face-to-face coaching in Vietnam

February-June 2018

Follow-on support online for implementation of new practices

 

V. Application Process and Assessment

Interested organisations must fill in an Expression of Interest form and send it to grants@ipp.vn by midnight Vietnamese time on December 21st.

Organisations applying for support will be assessed based on the needs and plans they currently have in terms of exploring and implementing new funding practices as well as the relevance of the provided coaching support for these needs.

Needs assessment interviews will be held on Skype between 27.-29.12.2017 and final decisions announced on the first week of January 2018.

For more information, please contact IPP Office – Tel: +84 24 39393982 (Ms Trang Vu) – Email: grants@ipp.vn – Address: Suite 1502, 15F, Thang Long Tower, 98A Nguy Nhu Kon Tum street, Thanh Xuan district, Hanoi.