Set up based on demand, the intervention enabled start-up companies to experiment on “fast” solutions to compete in the international market. IPP made funds available to single start-up companies or those in a consortium undertaking sub-projects through a competitive grant application process.
Besides fund support, IPP provided coaching and mentoring services to guide the companies on the grant application process and on the practical aspects of preparing a business plan. Successful companies further benefited from targeted capacity building activities which is unique in Vietnam and which inspired IPP to establish a coaching and mentoring programme.
The programme consists of a two-month boot camp and eight months of on-the-job training targeted to meet the needs of the companies. IPP produced a total of 12 business coaches equipped with knowledge and skills in assisting start-ups with an export orientation.
The programme is financed by Ministry for Foreign Affairs Finland.