Quang Tri fosters entrepreneurial dreams through startup incubator model

Driven by the actual development of the province and the passion of an entrepreneur, the “Startup Incubator” model, implemented by Quang Tri General Trading Joint Stock Company in collaboration with PUM Organization (Netherlands), has come to fruition. This model aims to foster dreams for startups and materialize the aspiration for prosperity for the homeland of Quang Tri.

Leaders of Quang Tri General Trading Joint Stock Company sign a cooperation agreement with PUM Organization (the Netherlands) to implement the “Startup Incubator” project. Photo: L.T

Concern from an entrepreneur

Ho Xuan Hieu, Chairman of the Board of Directors of Quang Tri General Trading Joint Stock Company, shared: "When the Quang Tri Newspaper opened the forum “What does Quang Tri do to develop rapidly and sustainably,” from the perspective of a business manager, I see the biggest bottleneck of the province at present is the workforce. Many young people are well-trained but lack opportunities to contribute to their homeland due to the lack of a conducive development environment. This greatly concerns me."

Previously, Hieu studied mechanical engineering, unrelated to management or business. However, from 2006-2007, thanks to participating in a management training course from a US organization, he gained valuable knowledge, which he gradually applied and accumulated, learning more to manage and develop businesses as it is today. Especially recently, the catalyst that motivated Hieu to implement the “Startup Incubator” idea was his son passing the “seedling” course of a global-scale corporation. Currently, his son is enjoying preferential policies to start a business in a favorable working environment.

With the approval and encouragement of the provincial People’s Committee leadership, as the initiator, Hieu discussed and persuaded the leadership of Quang Tri General Trading Joint Stock Company to allocate part of the unit’s budget, in collaboration with PUM Organization, to develop the project “Startup Incubator” to support training for talented young people who desire to work in Quang Tri.

To realize the idea, the requirement is to have people (seedlings), projects, and specific products. Therefore, the Quang Tri General Trading Joint Stock Company posted announcements and opened a recruitment board, searching for candidates for the project. Hieu commissioned PUM Organization experts to train in four main areas: finance, business, human resources, and company development strategy.

Petrus Hendricus Gerardus Verstappen, a startup training expert from PUM Organization, shared: " Hieu is a person with enthusiasm and a desire to enrich the homeland. The incubator will be a place to seek and focus on nurturing ideas, directing experiences, practical technology, and business market orientation, innovating thinking and clearly defining positions in the market for young people. The goal is to create a dynamic, creative young generation with rich entrepreneurial ideas, contributing to changing the economic and social landscape of the province."

PUM’s experts and participants from the first class during a visit to a manufacturing plant of the Quang Tri General Trading Joint Stock Company. Photo: L.T

Supporting startups

For Quang Tri, this is the first startup support model in the business sector initiated by a pioneering enterprise. Along with paying salaries for students monthly, and supporting all travel and living expenses for PUM Organization experts in Quang Tri when organizing courses over 5 years, the estimated total cost the company will pay to implement this model is around VND10 billion (US$405,000).

With a training roadmap for each student within 2 years, this program will provide young people with knowledge in business, finance, management methods, business development strategies, market research, etc. The “Startup Incubator” will be implemented for 5 years, holding 2 classes per year, each class training 3 students. Thus, the “incubator” is expected to produce about 30 "seedlings." While other classes require tuition fees, here young people are supported by the company with incomes ranging from VND9-10 million ($365-405)/person/month, enjoying full benefits and policies of the Quang Tri General Trading Joint Stock Company.

After 2 years of training, students will be supported by the company for a 10-day practical trip to Europe to visit factories and enterprises abroad to gain practical knowledge. In addition to training costs, Quang Tri General Trading Joint Stock Company creates practical environment conditions at its member units for “seedlings” to easily apply theory into practice, while also fostering creative space for students to experience practical activities by directly participating in production and business activities in various fields of the company.

PUM’s experts and participants during the class of the “Startup incubator” project. Photo: L.T

"I was born and raised in Quang Tri, and after graduation, I also have a desire to contribute to building my homeland, so I understand the aspirations of young people very well. I hope that after 2 years of training, you will be confident, mature, and have enough courage, knowledge, and experience to start a new company or become middle-level leaders of Quang Tri General Trading Joint Stock Company, depending on your choice, creating more jobs and income for laborers in the province, attracting more young people from elsewhere to come and contribute to building the homeland," Hieu expressed openly.

After nearly 2 months of searching, through 3 rounds of interviews by the Selection Board, 3 candidates were selected for the first course of the “Startup Incubator,” including Nguyen Thi Thuy Trang (born in 1997), from Trieu Phuoc commune, Trieu Phong district, a bachelor of Business Administration from Danang University of Economics, who used to work as a marketing staff at a Japanese fishing tackle manufacturing company in Danang; Nguyen Van Ky Truong (born in 1996), from Cam Thanh commune, Cam Lo district, a bachelor of Environmental Engineering Technology from Hue University’s Quang Tri Branch. He had 3 years of experience working on non-governmental foreign projects related to environmental issues in Quang Tri; Hoang Thanh Phuong (born in 2001), from Vinh Thuy commune, Vinh Linh district, a bachelor of Plant Science Engineering from Hue University of Agriculture and Forestry. All three candidates have good professional qualifications and are proficient in English communication, making it very convenient for them to exchange and study with PUM Organization experts.

According to Thuy Trang, she accepts the trade-off of leaving her job in a dynamic city to start a relatively new job in her homeland, which is developing the market for SEPON FEED’s livestock feed of Quang Tri General Trading Joint Stock Company. "The biggest change I can feel is in my mindset, vision, self-transformation to experience and see opportunities for development. I feel much more confident and courageous after being encouraged, motivated, and directed by PUM Organization experts," Trang said.

As for Nguyen Van Ky Truong, participating in the “Startup Incubator” course, he was provided by PUM experts with tools to assess and analyze strengths, weaknesses, and the overall perspective of managers need to encompass.

Pursuing the project of developing SEPON organic rice store chain to provinces and cities nationwide, Truong was guided to start with the simplest tasks of serving at Quang Tri General Trading Joint Stock Company’s organic rice restaurant. He said he would approach work from all angles to understand all stages from preparing to serving food on the table to guests, thereby identifying strengths and weaknesses, and maximizing the effectiveness of the project.

“Everything is just beginning, and my project is not really clear yet, but I will try to have a comprehensive view from specific work experiences,” Truong shared.

Lam Thanh - Ngoc Mai