On the afternoon of October 22nd, Van Lang University, in collaboration with BLOCK71 Vietnam of the National University of Singapore (NUS), launched the 84X innovation and entrepreneurship development platform. The platform connects government agencies, universities, and businesses, initially focusing on the retail and consumer value chain in Vietnam.
Attending the program were Vice Chairman of the Ho Chi Minh City People’s Committee Truong Minh Huy Vu, Consul General of Singapore in Ho Chi Minh City Pang Te Cheng, along with a large number of staff, lecturers, and students of Van Lang University.
Collaboration must produce a product quickly.
Speaking at the event, Vice Chairman of the Ho Chi Minh City People’s Committee Truong Minh Huy Vu assessed that 84X is a concrete result of the cooperation commitment between Van Lang University and its Singaporean partner, established about 5 months ago. The program has three notable points: the university’s support, clear thematic direction, and the participation of a reputable international partner from the outset.
According to Comrade Truong Minh Huy Vu, the city’s incubators, innovation centers, and acceleration programs need to shift from extensive to intensive development. After the initial phase of providing general knowledge and skills for entrepreneurship, these units must focus on specific fields, technologies, and problems faced by businesses and urban areas.
With 84X, the retail and consumer-focused approach helps the program reach market needs, opening up space for students, researchers, and startups to develop solutions. This process requires coordination between the government, universities, and businesses, with shared resource contributions for implementation.
Vice Chairman of the Ho Chi Minh City People’s Committee, Truong Minh Huy Vu, suggested that the parties identify milestones for results within 3 months, 6 months, and 9 months, aiming towards the development of products, technologies, and implementation teams. The value of the cooperation must be demonstrated through concrete progress and results after the signing.
For programs with international partners, it is necessary to design them according to international standards from the outset and to have a commensurate level of investment. According to Comrade Truong Minh Huy Vu, providing piecemeal support and applying low quotas for each training session is unlikely to meet the requirements for attracting experts and improving program quality. Bold investment must be accompanied by selecting the right partners and clearly defining the output targets.
Regarding the role of the management agency, Comrade Truong Minh Huy Vu raised the question of what practical benefits collaborative activities ultimately bring to participants. Besides data and computing infrastructure, it is crucial to create conditions for groups to access and jointly address large-scale problems.
“The city is ready to place orders,” affirmed Vice Chairman of the Ho Chi Minh City People’s Committee Truong Minh Huy Vu when discussing the need for technology applications in retail and consumption. E-commerce, digital payments, and demand-stimulating activities are areas where the program can discuss and develop solutions.
The Vice Chairman of the Ho Chi Minh City People’s Committee also suggested utilizing university campuses as a testing ground for technology. With a large student community, universities have the opportunity to help groups access users, test, and refine products for learning, finance, and consumption. He also requested the Department of Science and Technology to research the possibility of coordination, support, or proposing appropriate mechanisms to promote implementation.
Connecting startups with their first customers.
According to the organizers, 84X operates on a tripartite collaboration model: businesses identify real-world needs; universities contribute human resources and research capabilities; and regulatory bodies create a favorable environment for innovation.
Speaking at the event, Mr. Pang Te Cheng, Consul General of Singapore in Ho Chi Minh City, stated that one of the biggest obstacles for startups is finding their first large customer. Starting with a business problem will give teams the opportunity to develop and test solutions with partners already operating in the market.
This collaboration also facilitates access for Vietnamese founders to networks, funding, and expertise from Singapore, while opening opportunities for regional startups to explore the Vietnamese market.
Speaking at the event, Associate Professor Tran Thi My Dieu, Rector of Van Lang University, said that the university will contribute student human resources, faculty expertise, and facilities to the foundation. Students are expected to have more opportunities to learn from entrepreneurs and experts, work interdisciplinary fields, and test ideas. These experiences have long-term value for their careers, even if the learners do not become entrepreneurs.
At the event, 84X officially opened registration for two programs, 84X Connect and 84X Accelerate, through the website 84x.asia.
84X Connect is for students and young founders, including those without a startup. Participants gain access to a problem bank from businesses and regulatory agencies, choose a suitable problem, form a team, and develop a final project with guidance from experts and instructors.
84X Accelerate targets startups that already have a product and want to expand their market. The program connects selected teams from Vietnam, Singapore, and Japan with problems in the retail and consumer value chain. UOB and Wilmar are two pioneering partners in presenting these challenges.
Startups will participate in a 12-week acceleration program to develop, test, and validate their solutions; they will also have the opportunity to learn about the Vietnamese market and receive human resource support from students. The goal is to promote the collaborative development of solutions in a real-world business environment, create opportunities to reach customers, and shorten the sales cycle for startups.
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