To assist APO members devising strategies to develop enabling ecosystems for entrepreneurs, the Directorate for Standards, Metrology and Quality of Vietnam (STAMEQ) and the APO Secretariat organized an online conference on Building an Ecosystem for Innovative Entrepreneurship, 17 May, to identify trends and good practices in startup ecosystems in the Asia-Pacific region. Forty-eight participants from 12 APO members attended, comprising entrepreneurs; representatives of venture capital funds, accelerators, and incubators; and government officials, policy researchers, and representatives of research and educational institutes focused on innovation.

Innovation is a key driver of long-term economic growth and productivity improvement. Led by entrepreneurs and startups, innovation is closely aligned with market demand and customer needs, making it crucial for technological and economic development. However, each entity promoting startup development has its own characteristics, strengths, and constraints, necessitating specific, customized support for meaningful innovation. While innovative entrepreneurship is often beneficial, it is accompanied by uncertainty and risks, requiring a supportive environment with collaborative stakeholders.

As the Asia-Pacific transforms from a manufacturing base into a powerhouse for developing innovative products, solutions, and business models, the conference provided references for fostering sustainable ecosystems to drive innovation. Facilitated by four resource persons, two from the ROC, one from the Philippines, and one from Vietnam, conference topics covered building entrepreneurial capacity, identifying and realizing value, and resources and goals of incubators and accelerators. The discussions focused on creating conducive ecosystems for innovation. The resource persons introduced initiatives supporting startups and effective ways to connect stakeholders in ecosystems as key factors contributing to vibrant, sustainable entrepreneurial cultures.