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Viet Nam Ministry of Science and Technology partners with Xinova 

Viet Nam Ministry of Science and Technology and Xinova sign Memorandum of Understanding to Develop Innovation Center and Accelerate Innovation in Viet Nam

Nov. 28, 2018 — Ha Noi, Viet Nam and Seattle – Within the framework of The chain of innovative activities 2018, Viet Nam Ministry of Science and Technology and Xinova signed a memorandum of understanding with the desires to establish, manage and operate a MOST-administered Innovation Center in the city of Ha Noi. The center is intended to attract Vietnamese innovators and connect them to Xinova’s network which will enable them to innovate for some of the best global companies. With the witness of Viet Nam Minister of Science and Technology, Chu Ngọc Anh, the two organizations held a signing ceremony and the MOU was signed by Viet Nam Vice Minister of Science and Technology, Bùi Thế Duy and Yong Sung Kim, Chairman of Xinova Asia.

The Ministry of Science and Technology and Xinova have agreed to: (i) Work on an agreement to set up the center with sufficient resources to meet the needs of projects and innovation center activities; (ii) Provide access to local talent and project opportunities within Viet Nam; (iii) Provide Innovation Management Services for the co-management of the center, including creating projects to drive demand; (iv) Develop innovation center projects by sourcing a supply of local and global innovators and technologies. Viet Nam Institute for Science, Technology and Innovation (VISTI, under MOST) will be the agency to implement this MOU with Xinova for further agreement.

The Ministry of Science and Technology determines that Science, Technology and Innovation are driving forces for the economy’s development, enhancing the competitiveness and international integration abilities of enterprises, contributing to the socio-economic development in a fast and sustainable manner. The signing event today is the result of a continuous effort by the Ministry of Science and Technology to develop, promote and develop Innovation in Vietnam.

In his speech, Minister Chu Ngoc Anh remarked, “With the impressive development and history of XINOVA, MOST is confident that this Innovation Center will be the link between the needs of innovation from enterprises in Viet Nam and Xinova’s network of more than 12,000 scientists and innovators worldwide, in order to create favorable conditions for Vietnamese scientists and engineers to join this network as well as to train technology management and innovation staffs, and enable them to access this new global approach to promoting innovation. The MOU between the MOST and Xinova will be the foundation for the establishment and co-operating of the Innovation Center in Vietnam”.

“We are very proud to work with Viet Nam Ministry of Science and Technology to help Vietnamese innovators showcase their reputation – the reputation of Viet Nam itself – for great solutions to problems the world over, and the creation of economic value,” says Yong Sung Kim, Chairman of Xinova Asia. “Innovation is moving from its traditional geographic centers to becoming a global effort. Solutions to problems in Viet Nam are moving beyond its borders to benefit the lives of everyone. Connecting the global supply and demand for innovation is paramount in this great new technology-powered and innovation-centric economy.”

With its collective of 12,000 innovators, Xinova trains and connects innovators globally, so they can use their creativity and intelligence to solve some of the world’s biggest problems. It does this by finding and aligning sources of talent, capital and demand with its partners and customers. The center will give Vietnamese innovators practical experience in commercializing innovation in the global marketplace.

Innovation Centers Connect Resources

The Innovation Center will bridge the gap from ideas to impact, across borders and domains. It serves as a magnet attracting like-minded innovators with the energy, passion and drive to address worldwide needs. With the Xinova partnership, local innovators are able to quickly advance great ideas and learn from failures.

In more detail, Innovation Centers deliver economic value by advancing solutions, combining different and diverse technologies or bringing remarkable products to a new market. They can become the hub for supply and demand for global innovation. This resource enriches the lives of entrepreneurs and scientists, and strengthens the nations that support them. Simply, pairing Xinova’s global reach and innovation management with the region’s leading innovators and technology can provide a strong catalyst for economic development.

“The leaders of tomorrow must have a new set of skills to flourish. The must-have talents in this new independent-work world are curiosity, creativity, a capacity for mastery and the ability to turn an idea into a commercial product. Innovators everywhere need to acquire these skills at each stage of product development. In Vietnamese you say: ‘Quen tay hay làm’ or in English you say ‘Practice makes perfect!’” “I’d also like to thank 8870Link a cross border consultancy that has and will continue to facilitate and promote cooperation between MOST and Xinova” says Kim.

This news has been covered extensively by media in Vietnam, including articles from VNExpress, The Saigon Times, Viet Nam News, VTV 1, and many others.

 

About MOST

MOST is a governmental ministry in Viet Nam formed in 1959, responsible for state administration of science, technology and innovation activities; development of science, technology and innovation potentials; intellectual property; standards, metrology and quality control; atomic energy, radiation and nuclear safety. www.most.gov.vn

About Xinova

Xinova is a collective of 12,000 innovators dedicated to turning big problems into bigger solutions. We work with companies like Pepsi and Honda to help them solve their largest research and product development challenge. Xinova brings value to customers by connecting the technology, talent, capital and demand. The company is headquartered in Seattle with staff located in Beijing, Bangalore, Helsinki, Israel, Seoul, Singapore, Sydney, Tokyo and Vienna. www.xinova.com

 

For media inquiries:

MOST

Vietnam Center for Science and Technology Communication
Room 913, 113 Tran Duy Hung, Ha Noi, Viet Nam
Tel: 024.39369506, Fax: 024.39369507

Xinova

Andy Tolton: +1 206.962.5880 andy.tolton@xinova.com
www.xinova.com

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