HCM City (VNA) - Ahuge potential exists in the country for start-ups that find innovativesolutions for existing problems, and young people must be the game changers forthis to happen.

Leaders of local successfulcompanies said at the Vietnam Young Leaders Forum held on December 15 that fearof failure most not make youth hesitate to launch start-ups.

They highlighted in particularthe start-up opportunities presented by the agriculture and horticulturesectors in the coming 10 years.

Nguyen Thanh My, chairman of theBusiness Association of Overseas Vietnamese and general director of RynanAgroFoods Co, said keeping rice cultivation profitable had become a stiffchallenge, which meant opportunities for start-ups with clever solutions.

Competition in producing and exportinglow-priced rice is no longer attractive, he said, adding: “We must change thegame”.

My suggested young people studythe whole agricultural value chain to understand the sector’s demands and stay updated on technology trends tocome up with new solutions that can launch a start-up.

Le Dang Khoa, CEO of Ba La XanhFertiliser Co Ltd, the Bamboo Eco Village Resort and Zita.vn, also advisedyoung people to observe, engage and gather experience in areas that interestthem.

"They should dare to thinkdifferently and act differently to develop new products/services that bettermeet market demand," he said.

“Opportunities are all aroundus. For instance, the world’s fresh flower market is worth 92 billion USD. TheNetherlands meets 50 percent of this and Ecuador 15 percent, while exports fromVietnam remain very modest.

“Holland has tulips, Ecuador isfamous for roses. Why is not Vietnam the capital of hydrangea and sunflowers?”

With favourable climaticconditions, it is possible for Vietnam to gain a larger piece of the worldflower market, Khoa said.

My said Vietnam had a goodinternet infrastructure, and Vietnamese people were also good at IT, which wasa good foundation for exploiting Industry 4.0 opportunities.

“This is also an opportunityfor start-ups if they can understand the market.”

TruongLy Hoang Phi, director of the Business Start-up Support Centre(BSSC) and head of the forum’s organisation board, said this year had witnessed a strong start-up wave,especially in the useof technology platforms to modernise the traditional business landscape.

Theforum aims to create opportunities for young leaders to learnfrom different generations of entrepreneurs and successful Vietnamesestart-ups. This will strongly inspire entrepreneurship and a positive mindsetamong the younger generation, she said.

Otherdelegates at the forum recommended that young people who wanted to launchstart-ups do not hesitate, and be ready to accept failure before finding theirown paths to grow.

Organised by the BSSC incollaboration with the Young Businesspeople Association of HCM City and VietnamEconomic Forum, the Vietnam Young Leaders Forum, themed “Change the Game,”attracted 600 delegates, including leaders of enterprises and universitystudents.-VNA