A coworking space has been set up in Ho Chi Minh City to support the development of the local startup community.

The Saigon Innovation Hub, abbreviated to SiHub, opened on August 5 at 273 Dien Bien Phu Street, District 3.

The coworking space is an initiative of the municipal Department of Science and Technology and is considered part of a project recently approved by the Vietnamese prime minister.

The project, named ‘National Program to Support an Innovative Startup Ecosystem in Vietnam by the Year 2025,’ is meant to create a favorable environment to promote and support the development of startups with high-growth potential.

By 2025, the project is expected to have supported 2,000 startup projects and 600 startup enterprises, according to local newswire Vietnamplus.

Nguyen Viet Dung, director of the department, stated that SiHub will spur entrepreneurship and connect members of the startup community, including incubators, businesses, and financial funds.

Besides offering free working space to startups whose product is in the development phase, SiHub provides gratis consultation and training workshops, and connects entrepreneurs with potential investors.

The hub also partners with foreign entrepreneurship communities to ensure achievement-oriented goals.

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