On November 22, 2019, the Department of Planning and Investment of Hanoi City commented on the document of establishing the Innovative Start-up Fund and the legal basis for establishing the “BCNEX Innovative Startup Investment Fund.”
Accordingly, in the Official Letter №131 / TB-DKKD signed on November 22, 2019 of the Department of Planning and Investment in Hanoi on: “Opinions on the file on the establishment of the Innovative Startup Fund” recognized the BCNEX Innovative Startup Capital Joint Stock Company with full legal grounds to establish the “BCNEX Innovative Start-up Investment Fund” in accordance with the laws of Vietnam.
The Hanoi Department of Planning and Investment requires the company to be responsible for disclosing information about the establishment of the BCNEX Innovative Investment Fund on its website and sending a copy of the Establishment Notice to the Ministry of Planning and Investment to publish in the National Information Portal to support small and medium-sized enterprises (SMEs). The Fund can only operate after the Fund’s information is published on the National Portal to support SMEs.
Before the information on the establishment of the Fund was approved, Mr. Ngo Hoang Quyen, CEO of the BCNEX Innovative Start-up Fund emphasized: “Legally, the BCNEX Innovative Start-up Investment Fund was established and The operation complies with the Government’s Decree №38/2018 / ND-CP of March 11, 2018, on: “Detailed provisions on investment for small and medium-sized startup businesses”. In terms of goals, the Fund will focus on accompanying, supporting and consulting startups to complete and optimize products as well as build, manage and effectively viral business’s images. ”
According to the CEO, the company will be a bridge for startups to approach domestic and foreign funds to promote their products, raise funds directly in accordance with the law of Vietnam.
In the upcoming time, BCNEX Innovative Star-up Investment Fund will announce its strategic partners along with the Fund as well as its detailed program of activities to promote and support for startups in Vietnam.
Decree 38/2018 / ND-CP of the Prime Minister dated March 11, 2018 on: “Detailed provisions on investment for small and medium-sized startups innovative businesses” clearly defined on the establishment, management and operation of innovative start-up funds and the mechanism of using local budgets to invest in small and medium-sized startup businesses.
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