Press Release: IPP Innovation Accelerator Program Launching

On 17 August 2015, in Hanoi, the Innovation Partnership Program (IPP) is launching its six-month Innovation Accelerator Program (IPP IAP) in Vietnam. The program starts with a week-long boot camp and intensive training course in Hanoi.

The accelerator program has been designed for internationally oriented high-growth startups as well as consortiums that are developing the innovation system locally. IPP has selected 19 company teams and 4 ecosystem teams for the program.

The launching ceremony had attendance from high level representatives from Ministry of Science and Technology of Vietnam, the Embassy of Finland, a team of international trainers and local facilitators, as well as the project teams.

About IPP Innovation Accelerator Program (IAP)

New innovative companies – IPP supports the innovation projects of companies that are developing products and services which are new to the Vietnamese market and have the potential to be exported to international markets.  These innovations must create exponentially greater value for customers, rather than incremental improvements that make existing products better or cheaper. 19 projects have been selected for seed funding as well as training and network support.

Innovation system development – IPP supports innovation system development projects that make the local innovation ecosystem better in Vietnam. The main emphasis is in the development of better services for new innovative growth companies, for example the development of a new incubator, creation of new services for existing incubators, planning of a new funding program in the province, adding startup services to existing technology park or initiating a regional cluster growth program. 4 innovation systems have been selected for seed funding as well as training and network support.

Innovation Accelerator Program consists of:

  • 6 day intensive training during the Boot Camp and Training Program from 17 to 22/08/2015
  • Monthly or bi-weekly workshops and networking events delivered by international guest speakers as well as local successful businessmen and consultants;
  • Some of the workshops will be open for the wider startup community and startup development ecosystem;
  • Mid-term and final demo days, where innovation teams will pitch their projects in the front of domestic and international angel investors, venture capital and private equity funding as well as other interested stakeholders;
  • IPP innovation consultants working with the startup teams on weekly basis.
  • The best performing projects might receive additional grant from IPP as well as other investors


 

About IPP

Innovation Partnership Programme (IPP) is an Official Development Assistance (ODA) program financed jointly by the Governments of Vietnam and Finland. IPP is in its second phase running through 2014-2018. IPP supports Vietnam’s overall goal of becoming an industrialized middle-income knowledge economy by 2020. The program objective is to boost sustainable economic growth in Vietnam through the increased production and export of innovative products and services.

In June-July, IPP organized a Training of Trainers Program (ToT1) for 12 selected Vietnamese professionals, who will support the IPP IAP teams as innovation and learning coaches. The ToT program was designed to provide essential knowledge and skills on innovation and entrepreneurship in an integrated, comprehensive and practical manner. The intensive course was completed on 07/08/2015. Another ToT Program for university and training organization staff will be held in 2016.

Several other activities are also in planning phase or already under way in the IPP. These include ecosystem development activities, cooperation with local universities and the localization of training material and knowledge reference sources.

The program is jointly funded by Ministry for Foreign Affairs of Finland and the Ministry of Science and Technology of Vietnam.

For further information on IPP and its innovation training and support programme, please contact Ms Silja Leinonen (Email: silja.leinonen@ipp.vn Tel: +84 919 055235) or visit IPP accelerator website at http://accelerator.ipp.vn/