[Latest News] Ho Chi Minh City’s Innovation Startup Center Opens as New Ecosystem Hub

On August 23, 2025, Ho Chi Minh City officially inaugurated its Innovation Startup Center (SIHUB)—a pivotal launch aimed at accelerating the city’s march toward becoming a national and regional innovation powerhouse. Located at 123 Trương Định Street, Xuân Hòa Ward, the newly unveiled 7-story, 17,000-square-meter facility was developed with over VND 320 billion in public funding, with construction beginning in October 2020.

Spanning the first three floors are common areas dedicated to government-led programs, talent incubation, and policy outreach. The upper floors serve as a convergence zone for private sector partners, including incubators, venture capital firms, and leading domestic and international tech enterprises—operating under a public-private partnership model. The launch represents a concrete step toward implementing Resolution 57 of the Party Central Committee, which calls for transformational advancement in science, technology, innovation, and digital transformation at both national and municipal levels.

According to Lâm Đình Thắng, Director of Ho Chi Minh City’s Department of Science and Technology, the city already plays a commanding role in Vietnam’s tech landscape—home to half of the country’s startups and three “unicorns” (VNG, MoMo, Sky Mavis)—and accounts for 44% of the nation’s startup capital. The city’s startup ecosystem is valued at approximately US$7.4 billion, with venture investment totaling US$260 million.

Additionally, Ho Chi Minh City ranks among the top 5 most dynamic startup ecosystems in Southeast Asia. It holds a position in the global top 30 for blockchain innovation and second in the region for fintech, according to StartupBlink. The Innovation Startup Center is envisioned to become more than just infrastructure—it aims to serve as a “common home” for the startup ecosystem, nurturing

ideas and serving as a launchpad for local innovators to expand globally. Its integration with the City’s International Financial Center is expected to strengthen connections in fintech and investment sectors.

Deputy Chairwoman Trần Thị Diệu Thúy emphasized that with nearly 100 universities, hundreds of research organizations, and over 2,000 startups, Ho Chi Minh City possesses a solid technological foundation and is well-positioned to become a leading innovation hub in the region. She pledged continued development of policies, infrastructure, and partnerships to secure a place for the city among the world’s top 100 startup ecosystems and Southeast Asia’s top 5.