Microsoft Vietnam has signed a memorandum of understanding on cooperation to back the local startup community in terms of information technology.

The memorandum was signed on Monday between Microsoft and the Vietnam Silicon Valley (VSV).

VSV is a pioneering project jointly executed by the Ministry of Science and Technology and the Vietnamese government to create an entrepreneurial ecosystem which focuses on innovation and commercialization.

According to the memo, Microsoft will support VSV in selecting the most potential projects, providing entrepreneurial experts and consultants as well as training startup companies.

Both sides will also join hands in providing financial and technological support for entrepreneurs.  

According to head of the VSV Thach Le Anh, the cooperation with leading technology groups like Microsoft will create practical benefits and strongly support the development of startups in Vietnam.