As Vietnam’s startup ecosystem enters a phase of rapid growth, networks, alliances, and associations are emerging as key platforms. Experts believe the greatest value these alliances offer startups is their ability to create synergy - connecting and leveraging resources from businesses, research institutes, investment funds, and support organizations.
Fear of loss
At a recent event on developing Vietnam’s network of innovation and startup centers, Mr. Dinh Viet Hoa, President of the Vietnam National Entrepreneurship Association, stressed a key to literal survival: “Relationships are assets. Many businesses fail not because of weak products or capabilities, but due to a lack of customers and connections. That’s why networking and sharing activities among companies are absolutely essential. They can be a matter of survival.”
The importance of connections and the role of networks and associations is undeniable, but while the need for collaboration is widely recognized, actually linking these networks together remains difficult due to various barriers. With 15 years of experience working with multiple associations, Mr. Hoa acknowledged that bringing networks together is almost an insurmountable task. He highlighted a common mindset that hinders cooperation: “We tend to compete, fear losing, fear sharing, and fear being at a disadvantage.”
This “fear of loss” remains one of the biggest obstacles to collaboration and knowledge sharing in Vietnam’s innovation ecosystem, especially when it comes to each organization’s most valuable assets. Mr. Vu Manh Hung, Vice Chairman of the Vietnam Inventors Association, posed the question bluntly: “Are we willing to share member lists, expert directories, patent data, research results, or our partnerships? I think not.”
This closed mindset prevents many knowledge resources from being fully utilized. Mr. Hung cited a regrettable reality: though all patents are published and publicly available in the system, many companies simply don’t know how to access or use them.
He noted that, internationally, companies exist to sell patent databases. Vietnam has also digitized its Intellectual Property Office data, but some Vietnamese researchers and businesses have to buy back patent data from foreign companies just to conduct research. “This is a painful paradox, reflecting the lack of connection and information sharing within our own ecosystem,” he said.
Bridging research and markets
Ms. Tran Anh Phuong from the Vietnam University & College Innovation & Startup Network (VNEI) acknowledged that connections between universities and companies are still “very loose, with current links fragile and offering little practical value.”
According to Ms. Phuong, universities hold vast resources in the form of research projects, inventions, and innovations by faculty and scientists. Yet many of these works remain “locked away in drawers,” unused in practice. “This is not a new story, but it remains a pressing challenge,” she said: “How can the inventions of PhDs and professors actually be fully commercialized to deliver real economic and social value? That’s why connections with businesses are so critical.”
She also highlighted a key issue: mechanisms are needed to encourage joint research and implementation, bridging the gap between academic outcomes and real market demand. “When businesses and universities collaborate on research projects and jointly develop products and technologies, we can accelerate the commercialization of inventions, bringing research from the lab into real-life applications more effectively and sustainably,” she added.
Ms. Phuong also stressed that if innovation centers at universities and institutes could connect closely, not just with the private sector but with all ecosystem players, it would create significant synergy. Such connections could nurture a new generation of entrepreneurs, startups, and researchers capable of driving national innovation in the years ahead.
Mr. Nguyen Duy Dung from the Ministry of Science and Technology’s National Agency for Technology Entrepreneurship and Commercialization Development (NATEC) noted that successful businesses and startups begin by identifying societal problems and offer suitable solutions. Yet even with viable solutions, startups often struggle at the commercialization stage, lacking market connections and the ability to bring products to market.
“Many companies achieve revenues in the trillions of VND thanks to strong networks, skills in product commercialization, market insight, and efficient operations,” he said. “Conversely, scientists - even highly specialized ones - often fall short in linking with markets and commercializing their research.” He emphasized that this gap is one that Vietnam’s startup ecosystem must address through closer links between researchers, businesses, and innovation support networks.
Connecting beyond borders
In today’s globalized economy, international connectivity is a matter of survival for Vietnamese businesses. “If we only look within Vietnam and its more than 100 million people, we already have a sizable market, about one-eighth the size of Europe’s population,” Mr. Hoa explained. “But on a global scale, Vietnam accounts for just one-eightieth of the world’s population. That’s why expanding ties with the international community is crucial, not only as a chance to learn but also as a gateway for Vietnamese enterprises to go global.”
Meanwhile, the rapid rise of AI is reshaping how people connect and collaborate. According to Ms. Jenny Nguyen from the Vietnam AI Community, AI is breaking down traditional barriers of language, time zones, and geography, opening up new ways to communicate and work together more efficiently. “Barriers such as language, time zones, and geography are no longer real obstacles,” she said. “Whether working in China, Thailand, or elsewhere, we no longer need to speak the local language to communicate or sign deals, thanks to AI-powered translation.”
This technological shift, she said, not only creates vast opportunities but also calls for stronger collaboration within the ecosystem. No single community can achieve progress alone; building a truly connected digital network is essential to help people engage seamlessly from anywhere in the world.
Mr. Ngo Tuan Anh, Chairman and CEO of SCS, has observed that most innovation-driven startups in Vietnam stem from technology and engineering. But their biggest challenge lies in sales - how to reach the market. “Many companies can build products, but selling them is another story,” he said.
He believes sustainable growth in high-tech industries requires time, persistence, and especially government support. “It’s similar to South Korea in the 1970s, when Hyundai started out as a construction firm,” he explained. “With a long-term strategy and State backing, it evolved into one of the world’s leading automakers. Vietnam can absolutely follow that path.”
Experts agree that the ultimate goal of Vietnam’s startup and innovation ecosystem is not just to create products but to generate real value for its members. It should be a space where businesses share resources, support one another through the early challenges, and grow together sustainably, by overcoming the “fear of loss” and building a culture of transparent, trust-based collaboration.
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