Hanoi, April 17 -- With an initial charter capital of VND500 billion, the fund will provide support for tehnology startups and advance the city's goals in science, technology, and innovation development under the Politburo's Resolution No. 57-NQ/TW.

Over the next decade, the fund is expected to support around 50-150 startups, help commercialize at least 50 products and technologies, and nurture 5-10 major tech firms capable of IPOs, mergers and acquisitions, or international expansion.

Ho Chi Minh City plans to increase the charter capital of the fund to VND5,000 trillion by 2035, with 60 percent of the capital coming from the private sector and 40 percent from the State./.

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