The Ho Chi Minh City People’s Committee on October 1 held a groundbreaking ceremony for the Centre for Innovative Start-ups in District 3.

The groundbreaking ceremony for the Centre for Innovative Start-ups in District 3 on October 1. Photo by Tintuc.

With a total investment of over VND 300 billion (USD13 million), the centre at 123 Truong Dinh Street, Ward 7 will be built with nine floors and a total area of 16970 square metres.

There will be different functional areas for offices, conferences, exhibitions, culture and arts.

Speaking at the ceremony, chairman of HCM City People’s Committee, Nguyen Thanh Phong said that this will be a place to nurture and develop innovative ideas for start-ups.

‘I hope that this centre will help connect schools, research institutes, factories and entrepreneurs which will all strive for Industry 4.0’ he noted.

The centre is expected to be completed and put into operation in 2022.

The project for this centre was approved by the 9th HCM City People’s Council in July 2019 and is supposed to be the link between domestic start-up communities and their international counterparts.