Minister of Science and TechnologyNguyen Quan told Lao Dong Cuoi tuan (Labour Weekend) about a new projectto attract investment for technology ventures following the SiliconValley model.

* How is the Silicon Valley model different from the previous national programme to develop high technology?

The two programmes have similar goals. The national programme on hightechnology development aimed to create products similar to those made inSilicon Valley, which is recognised worldwide as a place fortechnological innovation.

We all know thattechnology today comes from Silicon Valley. We would not have mobileinformation or the internet without the research of Microsoft, Apple andGoogle. The Silicon Valley model cannot be combined with other modelsand Vietnamese experts applying it must be excellent.

* What should enterprises do to participate in Silicon Valley Vietnam?

Currently the Government cannot invest in a venture investment funddue to legal regulations, especially the State Budget Law.

The science and technology ministry called on enterprises,organisations and individuals to contribute capital to a ventureinvestment fund following the Silicon Valley model.

The ministry encourages scientists and entrepreneurs to propose ideasand join in the project. However, there are a few compulsory criteriafor participants.

They must have a scientific spirit,determination to create innovative technology and willingness tosacrifice. Only one out of 10 projects in Silicon Valley is successful.

However, one successful project is huge for both investors and scientists and helps Silicon Valley continue to develop.

* Will the project help reduce the "brain-drain" situation?

To address this problem, we need to improve conditions for scientists.They need a good working environment; moreover, they need to understandthat innovative research can be financially rewarding.

We hope that the science and technology law and accompanying new policies will create such conditions.

Many powerful countries like Japan, Russia, India and even the UnitedStates have faced the problem of "brain-drain", as scientists tend to goplaces that offer them the best working conditions.

Conversely, this also means we can attract them back to their homelandif we provide good working conditions and stir up their patriotism,passion and responsibility to their country.

* How can Vietnam attract scientists to its Silicon Valley given the current facilities offered for research?

Vietnam has become a middle-income country and the Government andsociety's investment in science and technology is still modest.

The country also lacks powerful research units equipped with modern facilities that can attract scientists.

However, even the original Silicon Valley had modest conditions when it was established.

The problem is how to get enterprises and scientists interested inSilicon Valley Vietnam. Can we promulgate mechanisms for establishing aventure investment fund to support scientific research? Spending fromthe State Budget must follow strict legal regulations.

Moreover, it would be difficult for scientists to do research giventhe strict spending limits imposed by the Government. A ventureinvestment fund funded mainly by enterprises and private organisationswould be more simple and convenient. It could pay for all researchexpenses provided that the final product was handed over to investors.

Thus, we want to establish a pilot venture investmentfund not connected with the State budget fund for investing inscientists' ideas. The investors will share risks – as well as successes– with researchers.-VNA