Most Vietnamese firms in the field of agriculture start out with their own ideas, but lack capital, management experience and distribution channels. Those weaknesses are slowly being removed with a “business incubation” program run by the Agriculture Hi-tech Park in Ho Chi Minh City.
The Center for Business Incubation of Agricultural High Technology has a laboratory that firms can use for free to research and develop new products. A mushroom business on the brink of bankruptcy used this lab to create several new kinds of mushroom products with high economic value.
Besides connecting firms with distribution channels, the center is also connecting them with banks, bringing them a source of capital with preferential interest rates to launch their businesses. This all round support creates an incubation model that agricultural firms can truly rely on when they decide to venture into high technology.
