Innovation start-ups: Vital factors
This is the main content of the training session organized online by Invention Village and Enterprises on September 30, within the framework of the National Innovative Startup Festival TECHFEST Vietnam 2021.

Mr. Tran Anh Tuan shared about how to start a successful business. Screenshots

The training program, led by Mr. Tran Anh Tuan, former training director of BNI Vietnam, as the key speaker, attracted more than 200 delegates and students from universities, businesses, startups, and etc.

Mr. Tran Anh Tuan, said, a startup or business when starting a business needs to know whether it is a traditional startup or an innovative startup. If it is a creative start-up, it must have new values or differentiating factors, innovate which elements, and apply technologies to improve business performance. An innovative startup enterprise must have a product ecosystem (diversity, excellence, difference), a business ecosystem (partners, customers) and an innovative business model. Enterprises need to have creative thinking about the value of products and businesses. This is the first step of an innovative startup enterprise.

Mr. Tuan gave specific examples of two vegetarian products of Vietnam and the US. Vegetarian products of Vietnam are usually only aimed at vegetarian consumers, making a difference mainly by quality, food safety and hygiene, brands, trademarks, advertising methods, etc. Over the years, these products have remained largely unchanged and created little new value.

Meanwhile, BYYOND MEAT plant-based meat product startup group (USA) not only targets vegetarians but also many other audiences, such as people who abstain from eating animal meat, people with high cholesterol, etc. completely different, their products can expand the global market and create a diverse product ecosystem.

In addition, the way to make a difference of BYYOND MEAT is not only in ingredients and quality but also in expressing the message of environmental protection (proving to save water, land, energy, etc. by specific numbers). This is attractive to investors, especially those who prefer plant-based products. Therefore, their products are more expensive than traditional animal products. In addition, 93% of their customers are people who have switched from eating animals to using BYYOND MEAT products.

The training session attracted more than 200 participants. Screenshots

At the training session, many participants shared that they wanted to start a business but did not know where to start, what to start, where to learn the knowledge about starting a business, how to make their products known to many people. All the questions raised by the audience were answered by experts from the Ministry of Science and Technology, the Vietnam Invention Association, etc. At the same time, the experts also shared experiences and knowledge about innovation methods, lean startup processes, startup product innovation, product design prototypes, etc.

In addition, experts also recommend that startups and businesses need to properly understand intellectual property and intellectual property rights have very special value in each unit and organization. Therefore, it is necessary to package and classify intellectual property, and at the same time identify, establish rights, and value the intellectual property of the unit.

On this occasion, the Village of Inventions and Innovative Enterprises launched the Training Board, led by Ms. Le Thi Thanh Tam (Ho Chi Minh City University of Medicine and Pharmacy), as Head of Board.

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