JOINT PRESS RELEASE
Singapore, 7 July 2023
NUS and NIC sign MOU to create new opportunities for entrepreneurs in Singapore and Vietnam
The National University of Singapore (NUS) and Vietnam National Innovation Centre (NIC) have signed a Memorandum of Understanding (MOU) to advance innovation and entrepreneurial exchange between both countries.
This MOU will strengthen the linkages of both countries’ innovation ecosystems through partnerships by government entities, Institutes of Higher Learning, and private sector companies on both sides. The MOU will contribute to the outcomes of the Singapore-Vietnam Innovation Workgroup (IWG) formed in December 2022 by Singapore’s Ministry of Trade and Industry and the NIC under Vietnam’s Ministry of Planning and Investment.
The MOU exchange was witnessed by Deputy Prime Minister of Vietnam, Mr. Lê Minh Khai, and co-chairs of the Singapore-Vietnam IWG, Dr Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry, Singapore, and Mr Nguyen Chi Dung, Minister of Planning and Investment, Vietnam, at the Singapore Business Federation’s Singapore Regional Business Forum held at the Melia Hotel in Hanoi. The MOU was exchanged between Professor Chee Yeow Meng, Vice President (Innovation & Enterprise), NUS and Mr Vu Quoc Huy, Director of NIC.
Acknowledging the partnership as a commitment from NUS and NIC in fostering innovation in both countries, Minister Nguyen Chi Dzung, said, “This collaboration between NIC and NUS
is a significant milestone in progressing the level of bilateral activity in knowledge sharing and start-up partnerships that supports Vietnam’s vision of becoming an innovation-driven economy. This is one of the key collaboration activities of the Singapore-Vietnam Innovation Working Group established by the two Ministries. I look forward to seeing the initiatives contributing to a positive impact through innovation activities in Vietnam.”
Under the MOU, NUS and NIC will collaborate in different areas to enhance the innovation and enterprise ecosystems of both countries over the next three years:
- Cooperation in knowledge sharing to improve innovation and entrepreneurial capacity through education
- To develop talent in entrepreneurship and innovation in Vietnam, NUS will sponsor seven students from the National Innovation Challenge to attend the upcoming NUS Entrepreneurship Summer Programme, which runs from 10 to 21 July 2023. NUS also plans to award scholarships to promising individuals in Vietnam’s innovation ecosystem for the NUS Master of Science in Venture Creation programme.
- To build collective knowledge in innovation and entrepreneurship, NUS thought leaders will share their expertise and insights at NIC platforms.
- NUS students and start-ups will have access to relevant initiatives and platforms in Vietnam such as incubation programmes organised by NIC.
- Pooling of resources to support start-ups and innovation for market access and partnerships in Vietnam
- NUS and NIC will co-organise activities and programmes in Vietnam promoting the adoption of innovative technology solutions offered by start-ups from Southeast Asia.
- NIC will also facilitate partnerships with corporations, government stakeholders and other enablers to support expansion of the entrepreneurship ecosystem for start-ups from Southeast Asia.
- Create test-bedding and implementation opportunities for research application and knowledge sharing in Vietnam
- Both parties will advance the development and application of technologies by exploring collaborations for knowledge sharing and test-bedding opportunities in Vietnam.
- Key focus areas that are of significant interest to both countries include smart cities and health tech.
- Enable the exploration of innovation Hub concepts in Vietnam
- NUS and NIC will explore new partnerships that will help develop innovation and entrepreneurship hubs in Vietnam. This could include supporting in-market expansion of NUS’ BLOCK71 Saigon, which was established in Vietnam in 2020, with the support of Becamex IDC, Vietnam’s leading industrial and urban real estate developer.
Commenting on NUS’ growing interest in Vietnam’s ecosystem, Associate Professor Benjamin Tee, Associate Vice President (Enterprise), NUS and NUS representative for the IWG, said, “As NUS continues to extend its innovation and entrepreneurship impact, we are excited to embark on this strategic partnership with NIC to create new opportunities for entrepreneurs in Singapore and Vietnam. This deepens our commitment to Vietnam as a key market for ecosystem growth in the region, building on our efforts for BLOCK71 Saigon. By combining our expertise and resources, we aim to create opportunities for applications of emerging technologies, empower entrepreneurs, and enhance ecosystem building that advances societal impact and economic growth through innovation.”
Elaborating on the inaugural initiative from this collaboration, Professor Chee Yeow Meng, Vice President (Innovation & Enterprise), NUS, added, “This initiative with NIC reflects NUS’ dedication to nurturing entrepreneurial talent. Through our scholarships and experiential entrepreneurship education programmes, we hope to develop entrepreneurial and innovation capabilities of promising Vietnamese talents. Together with NIC, we will build a strong foundation for future leaders that contribute to the growth of the innovation ecosystems of both Singapore and Vietnam.”
Commenting on the joint collaboration, Mr Vu Quoc Huy, Director of NIC, said, "As the catalyst for innovation in Vietnam, the NIC has an important role in promoting cooperation with universities, educational and training institutions abroad. We are, therefore, excited to partner NUS, one of the most prestigious universities in Asia and the world, and also a renowned institution in the field of innovation and entrepreneurship. This partnership between NIC and NUS will facilitate knowledge exchange, access to resources, and open doors for collaboration, contribute to the growth of our start-up ecosystem, and reinforce Vietnam's position as a regional innovation hub.”
For media enquiries, please contact:
For NUS Enterprise
Chan Yiu Lin
Consultant, Marketing & Communications
NUS Enterprise
National University of Singapore
Email: yiulin@greenergrass.com.sg
Errol George
Senior Manager, Marketing & Communications
NUS Enterprise
National University of Singapore
Email: errol@nus.edu.sg
For Vietnam National Innovation Center
Le Huyen Trang (Ms)
Event Management and Communications Officer
Vietnam National Innovation Center
Email: tranglh@nic.gov.vn
About National University of Singapore
The National University of Singapore (NUS) is Singapore’s flagship university, which offers a global approach to education, research and entrepreneurship, with a focus on Asian perspectives and expertise. We have 16 colleges, faculties and schools across three campuses in Singapore, with more than 40,000 students from 100 countries enriching our vibrant and diverse campus community. We have also established our NUS Overseas Colleges programme in more than 15 cities around the world.
Our multidisciplinary and real-world approach to education, research and entrepreneurship enables us to work closely with industry, governments and academia to address crucial and complex issues relevant to Asia and the world. Researchers in our faculties, research centres of excellence, corporate labs and more than 30 university-level research institutes focus on themes that include energy; environmental and urban sustainability; treatment and prevention of diseases; active ageing; advanced materials; risk management and resilience of financial
systems; Asian studies; and Smart Nation capabilities such as artificial intelligence, data science, operations research and cybersecurity.
For more information on NUS, please visit nus.edu.sg
About NUS Enterprise
NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), plays a pivotal role in advancing innovation and entrepreneurship at NUS and beyond. It actively promotes entrepreneurship and cultivates global mind-sets and talents through the synergies of experiential entrepreneurial education, active industry partnerships, holistic entrepreneurship support and catalytic entrepreneurship outreach. Its initiatives and global connections support a range of entrepreneurial journeys and foster ecosystem building in new markets. These initiatives augment and complement the University’s academic programmes and act as a unique bridge to industry well beyond Singapore’s shores.
For more information, please visit https://enterprise.nus.edu.sg
About Vietnam National Innovation Center
Vietnam National Innovation Center (NIC) is a unit under the Ministry of Planning and Investment, established by the Prime Minister in Decision No. 1269/QD-TTg dated October 2, 2019 with the function of supporting and developing Vietnam's start-up and innovation ecosystem, contributing to renewing the growth model based on science and technology.
The Center is built with the most advanced model and practice, suitable to the Vietnamese context, with specific, superior and competitive mechanisms and policies compared to the region and the world. The Center now has its headquarters in Hanoi and is expected to open its operating base in Hoa Lac in October 2023 . Along with that, investment capital to build the Center will be mobilised and contributed from domestic and foreign enterprises in various and appropriate forms and through investment socialisation; do not use investment capital from the state budget.
For more information about NIC, visit nic.gov.vn/en