Vietnamese entrepreneurship, vietnamese ecosystem, public policy, startups, vietnam,

1. Vietnamese Entrepreneurship:
An Overview and Practical Policy Suggestions
Jason Kassel, PhD
Invited Featured Speaker, Organizer
Global Entrepreneurship Week 2016
Vietnam Chamber of Commerce and Industry
Ho Chi Minh, Vietnam
Contact: jasonkassel@gmail.com

2. Structure of Presentation
1. Findings from recent studies
2. VN Gov defines three types of new businesses
3. Practical suggestions
4. Conclusion

3. Angel.co Data - VN Compared to ASEAN Leaders

4. Global Startup System VN Rankings 2015
Global Entrepreneurship Monitor 2015/2016 Global Report

5. Global System Ranking - Top Four
Economic Environment
1. Internal Market Dynamics (11/62)
2. Cultural and Social Norms (14/62)
Government Policy
1. Tax and Regulations (15/62)
2. Physical Infrastructure (17/62)

6. Global System Ranking - VN Bottom Four
Government Finance and Programs
1. Entrepreneurial Finance (50/62)
2. Government Entrepreneurship Programs (50/62)
Entrepreneurial Education
1. School Stage 2.47 (47/62)
2. Entrepreneurship at Post- School Stage 4.17 (47/62)

7. Vietnam Compared to US (GEM 2016)
GEM Global Entrepreneurship Monitor 2016

8. Five Differences Between VN and Australian
Ecosystem
Ecosystem analyst travelled from Australia to Israel to Vietnam to speak at
Hatch Fair 2016 and documented her thoughts.
1. Mindset
2. Funding
3. Talent
4. Collaboration
5. Networking

9. Findings of GEM Report - Fear of Business Failure
According to the GEM report:
In more developed countries people are more likely to refrain from starting a
business due to the fear of failure.
In Vietnam, compared to other countries at the same level of development,
more Vietnamese people are likely to let their fear of failure prevent them
from starting a business.
The fear of failure in Vietnam tends to be inversely proportional to age - 55% of
people age 18-34 are scared of starting a business, while only 45.3% of

10. Findings of Startup Expert (SECOEP)
Limited English

11. Entrepreneurial Development Policy
1. Innovative Enterprise
a. doanh nghiệp đổi mới sáng tạo
2. SME
a. doanh nghiệp nhỏ và vừa
3. Startup
a. doanh nghiệp khởi nghiệp đổi mới sáng tạo

12. Practical Suggestions
1. MOET - Focus on Entrepreneurial Training and Improving English
2. VCCI - Focus on Startup (doanh nghiệp khởi nghiệp đổi mới sáng tạo)
3. MPI - Focus on SME (doanh nghiệp nhỏ và vừa)
4. MOST - Focus on Innovative Enterprise (doanh nghiệp đổi mới sáng tạo)
5. Entrepreneurs - Five Areas of Advice
6. Business Support Centers

13. Recommendations for MOET
1. Emphasize entrepreneurial teaching methods
Self actualization
Cognition
Soft skills
Business formation
2. Improve English skills

14. Recommendation for VCCI
Focus on Startup (doanh nghiệp khởi nghiệp đổi mới sáng tạo)
Help startup businesses by connecting mentor networksHanoi
1. Hatch! Ventures
2. KisStartup
3. Hanoi Business Association
Da Nang
1. DNES
Ho Chi Minh city

15. Recommendations for MPI
Focus on SME (doanh nghiệp nhỏ và vừa)
Emphasize helping SMEs get access to credit
Existing program - Small- and Medium-Sized Enterprise Development
Foundation (SMEDF)
Create linkages among Global Value Chain
Program under discussion - Japanese model of Local Public Technology
Centre (LPTC)

16. Recommendations for MOST
Focus on Innovative Enterprise (doanh nghiệp đổi mới sáng tạo)
Emphasize an investment pipeline that starts with education and ends with
exits.
NATEC projects need to be coordinated and work together
Vietnam Climate Innovation Center - Universities
Vietnam Silicon Valley - Incubator and accelerator
VIISA - Accelerator
Maintain Startup Nation focus

17. Recommendations for Entrepreneurs
1. Communicate with Other Entrepreneurs
2. Research Business Opportunities
3. Learn Soft Skills
4. Learn English
5. Find a Mentor

18. Final Recommendation: Business Support Centers
Problem 1: Supporting industries in Vietnam are fragmented
Problem 2: There is virtually no linkage among small businesses
Problem 3: Linkages between businesses and management agencies, research institutes
and training facilities are not close
Recommendation: Sixty-three provinces each have two business support centers (126 total)
that are managed by the Department of Planning and Investment and the Department of
Industry and Trade. All of these should be upgraded with an initial investment into
equipment and capacity building assistance.

19. Conclusion
Vietnam can have a bright entrepreneurial future.
The Vietnamese Government is doing things very smart and very aggressively.
By dividing new businesses into three unique categories, the government has
made it easier for agencies and departments to focus.
MOET, VCCI, MPI and MOST all have unique roles to play in promoting
entrepreneurship.
Focusing on existing activity and policy can help Vietnam move to Startup
Nation goals.