Phu Tho Strengthens Support for Startups

Enterprises have long been considered the backbone of the economy. Without startups, small businesses cannot be formed, making it even harder to develop strong corporations in the future. Therefore, fostering an entrepreneurial spirit is a vital factor in building a dynamic and sustainable economy.

National and provincial Techfest events help businesses promote products while attracting investment into the province.

In the context of the newly formed Phu Tho province following administrative mergers, the story of entrepreneurship becomes even more significant. The economic development space is wider, the market scale is larger, and investment opportunities are more diverse. However, alongside opportunities come numerous challenges for young businesses.

A Growing Movement of Innovation

According to provincial statistics, by 2025, there were tens of thousands of active enterprises, including over 4,500 newly established ones. This reflects a strong upward trend in the startup movement among entrepreneurs and workers. Furthermore, the provincial economy maintained a high growth rate with a GRDP increase of over 10% in 2025; the economic scale reached over 409 trillion VND, and per capita income exceeded 110 million VND. These results show that the local investment and business environment is steadily improving.

A group of students from Dinh Trung Secondary School (Vinh Yen Ward) excitedly introducing their startup project "AI - No Vape Life."

However, functional agencies assess that most startups still face difficulties in the early stages. Limitations in capital, lack of management experience, weak market access, and low branding capacity are common obstacles. Additionally, some founders start businesses following trends without careful preparation of resources or competitive strategies, making them vulnerable to market fluctuations.

Recognizing these challenges, Phu Tho has focused on building an innovative startup ecosystem, viewing it as a key driver for economic development. The province has issued various mechanisms and policies to help startups access capital, technology, markets, and high-quality human resources.

In implementation of Resolution No. 57 of the Politburo on science, technology, and innovation, the province aims to form a dynamic startup ecosystem linked with the network of the Northern Midlands and Mountains. Activities such as creative idea competitions for youth, women, and students; training programs on corporate governance; and investment pitching events are organized regularly.

Effective Support Models

One successful model is the “Women’s Startup” program. Through cooperation between the Provincial Women’s Union and businesses, many members have received capital and business advice. A typical example is the Vivamart Ngoc Khuyen convenience store model of Ms. Nguyen Minh Khai’s family in Yen Lang Commune. Supported by Viva Holdings with 150 million VND for inventory and store design, along with monthly financial assistance, Ms. Khai shared: "This support helped me gain confidence to start my business and legitimately enrich my life."

The “Women’s Startup” model of Ms. Nguyen Minh Khai’s family in Yen Lang Commune brings high economic efficiency.

Phu Tho’s innovative startup ecosystem is taking clear shape, gathering numerous startups, experts, and investment funds. The province actively connects startups with domestic and international investment funds through events like National Techfest and regional startup forums.

In the coming time, provincial authorities will continue to promote policies supporting startups and strengthen connections between businesses, research institutes, universities, and investment funds. As Phu Tho asserts its position as a growth pole in the Northern Midlands and Mountains, entrepreneurship is not just a story for young businesses but a vital force driving the sustainable development of the local economy.

Quang Nam