Hanoi currently has around 1,000 startups, accounting for 26.32 per cent of the total nationwide, Permanent Vice Chairman of the Hanoi People’s Committee Le Hong Son has said.

He made the statement at the 2023 Capital Region Innovation Start-up Festival, also known as Techfest Hanoi 2023, held from October 12-14.

Mr. Son said startups and innovative businesses in the capital have raised $1 billion through fund-raising deals since 2016.

The city is home to 32 incubators in various fields and 14 providers of business acceleration programs, equal to 38.1 per cent and 40 per cent of the total nationwide, respectively.

According to Startup Blink, a global startup ecosystem research and mapping center, Hanoi and Ho Chi Minh City are among the top 1,000 startup cities around the globe.

With the theme “Connecting the Capital Region - Creativity and Development”, Techfest Hanoi 2023 aims to initiate and promote the development of a startup and innovation ecosystem in the capital region, raise knowledge on science and technology, digital transformation, and innovation, and spread an entrepreneurial and innovative spirit.

The 2023 event attracted the attendance of representatives from Hanoi and nearby Vinh Phuc, Thai Nguyen, Bac Giang, Bac Ninh, Hung Yen, Hai Duong, Ha Nam, Hoa Binh, and Phu Tho provinces.