MAXIMUM SUBSIDY FOR INNOVATIVE STARTUP ENTERPRISE IS VND 80 MILLION
On July 19, 2019, the Ministry of Finance issues the Circular No. 45/2019/TT-BTC on financial management for implementing the Plan of “Support for national innovative startup ecosystem toward 2025”.
To be specific, the maximum amount of subsidy on use of innovative startup services (including startup training courses and drills; product and service marketing and promotion activities; exploitation of and communication about technologies and inventions; payment and finance; assessment and valuation of scientific research findings, technological developments and intellectual property…) shall be VND 80 million/enterprise.
Innovative startup enterprises showing outstanding achievements and holding high rank in innovative startup
contests held as part of national or international innovative startup events may be preferred in order of beneficiaries to such subsidies and financial support. The maximum duration of support is one year and the maximum number of enterprises receiving such subsidies and financial support shall be 10 enterprises/year.
Besides, the maximum rate of subsidy shall be 50% of total costs that innovative startup enterprises pay to participate in intensive training courses held by several accredited overseas business accelerators (the number of participants in these courses is restricted to 02 persons/enterprise).
This Circular takes effect on September 05, 2019.
