Why founders start their business in other cities? Part 3
In this last part, we are examining some initiatives for Hue's startup ecosystem
Some successful startups are important to fuel the ecosystem 
Outstanding leaders were the driving force behind the creation of Silicon Valley and Cambridge. Silicon Valley, for example, would remain a ripe peach garden without the arrival of William Shockley, known as the world's transistor inventor. Similarly, at Cambridge, there would be no venture capital industry without Harvard Business School professor Georges Doriot and MIT alumni Ken Olson, who founded Digital Equipment Inc. with funding from Doriot's American Research and Development Foundation.
Capital, talent and pillar companies follow the first successful startups. Venture capitalists operate in a "herd" style. If they see another business making a profit through a deal, they'll look for similar businesses. Thus the appearance of the first successful deal will attract more capital, and if these deals succeed, a snowball effect will appear. If a number of startups can become public companies and thrive, they will likely be the pillar companies that will then invest their capital and talents back into the region. And those initial successes attracted more and more people in the startup sector.
So what should cities do?
To return to the story of Thua Thien Hue, according to the analysis of the Startup Common model, Hue has certain advantages when it comes to owning a strong university system, a close network of local people, and a number of startups achieving certain successes and attracting investments in the region. However, Hue is still absent of pillar companies, business cultures and experienced business people’s networks that can become mentors and contribute to boosting the ecosystem. Mr Phan Thien Dinh stated that Hue's culture is restricting start-up business activities, typically through the saying that Hue people have been passing on to their children, "You can’t do business in Hue". Therefore, Hue still needs many resources and much effort to create a foundation for the development of potential startups.

Besides, it is important that Hue belongs to another big startup ecosystem - Vietnam. To accelerate the development of Hue ecosystem, founders should be able to access to resources provided by the "larger ecosystem". Ecosystem builders in Hue should build up strong connection with others in other cities. One of initiative of Vietnam startup ecosystem is “Support Innovative Startup Ecosystem in Vietnam until 2025” National Program (ISEV). 

The Initiative for Startup Ecosystem in Vietnam (ISEV) was approved by the Prime Minister in Decision 844 signed on the 18th of May, 2016 and assigned the Ministry of Science and Technology (MOST) to head its implementation. The Initiative has the goal of creating a favorable environment for the creation and growth of new enterprises with high growth potential based on Intellectual Property (IP), new business model by

a) Establishing and improving the legal framework for supporting startups

b) Creation of national Startup portal

c) Support 2000 startup projects, 600 of which will develop into firms and 100 of which will secure follow-on investment from investors or be bought by large corporations, with total value of 2000 Billion VND.

Here are the part 1 and 2 of this article:
Part 1:  http://startup.gov.vn/Pages/chi-tiet-tin-tuc.aspx?l=Tintucsukien&ItemID=310
Part 2:  http://startup.gov.vn/Pages/chi-tiet-tin-tuc.aspx?l=Tintucsukien&ItemID=311

Tác giả: Phan Thị Hồng Vân