TECHFEST Innovation Start-up Festival is an initiative organized annually by the Ministry of Science and Technology of Vietnam since 2015, and is the largest series of activities gathering domestic and foreign innovation start-up communities in Viet Nam.

In 2019, for the first time, the Ministry of Science and Technology organized international TECHFEST in the United States, Korea and Singapore and left many impressions and positive results. This is an opportunity to promote the image of Vietnam's open and dynamic creative startup ecosystem; is a bridge connecting businesses and organizations supporting typical creative startups in Vietnam with resources around the world and preparing for the national Techfest taking place at the end of the year.

This year, on the occasion of 50 years of establishing diplomatic relations between Vietnam and Australia, the Ministry of Science and Technology decided to bring international TECHFEST to Australia - the vibrant startup heart of the Asia-Pacific startup ecosystem.

Speaking at the opening ceremony at TECHFEST Australia 2023, Minister of Science and Technology Huynh Thanh Dat said that according to statistics, Vietnam currently has about 3,000 innovative startups, of which 3 are valued at over one billion USD and 11 businesses are valued at over 100 million USD. Vietnam ranked 48/132 countries and economies on the global innovation index (GII), holding the 4th position in Southeast Asia. These are proof of a young, dynamic Vietnam with high potential in innovation and startup.