The program provides unique tools, resources and opportunities to the waves of entrepreneurs starting new companies, so they can develop products and services with a first-mover advantage.

We’re committed to helping innovative companies in the City break new ground said Le Thanh Liem, vice chair of the City People’s Committee at a press conference announcing the new program.

Qualified companies in the fields of mechanics, chemistry, information technology, food processing and biotechnology may be eligible for financing of up to US$87,840 (VND2 billion).

The cut-off date for financial assistance applications is January 1, 2017.