1. VIET NAM 2023
ENTREPRENEURIAL
ECOSYSTEM OF INNOVATION
Trần Trí Dũng; tran@jeaustin.com
Hà Nội, 20-Aug-2023

2. Viet Nam
Entrepreneurial Ecosystem of Innovation
Started in 2015
Crowded in 2021-23
 There is always innovation in any business.
 There is always an ecosystem of innovation.
 How entrepreneurial is the ecosystem?
 Support programs and services: (a) by
domain and industry, (b) by stages of
development, and (c) on demand
 Local ecosystem: Now and Here

3. Quantity that matters
Startups: 3,000+
Entrepreneurship Support Organization: 1,400
VCs: 100+:
o Increasing numbers of domestic VCs (20+)
Incubators: 69 (43 in universities)
Accelerators: 28
Coworking spaces: ~200
Networks of mentors and angel investors:
o Micro VCs
Shifting from quantity to quality
As of summer 2022

4. KEEP ON KEEPING ON
New players: startup, mentor, coach, incubator,
accelerator, angel investor, venture capitalist..
 New concepts: open innovation, innovation park..
New approaches:
 Systematic, in-direct support, co-create
 Methods of resource mobilization: tech “village”, return turtles, int’ resources
 Network effects: from quantity to quality, from central to municipal
 Public-private initiatives, community-driven initiatives (SIC, VMI/VSMA, VCCA,
VGSM, VAN..)
Ecosystem builders are pioneers who pave the way for the next
generation.. and keep doing the job.

5. • Volatility:
Fast changing
• Ambiguity:
Unclear
• Complexity:
Hard to analyze
• Uncertainty:
Cannot forcast
Warren Bennis & Burt Nanus: 1987

6. The Entrepreneur Desire to
create value
Ready to
accept
uncertainty
Able to capture
and turn
opportunity
into reality
Risk vs. uncertainty
o Risk: manageable
o Uncertainty: be ready for it

7. Innovation = Invention * Commercialization
Invention/Creativity:
 Focus: Novelty
 Workable solution
 Little, even no, attention to market
demand
Innovation = Invention * Commercialization
 Usefulness
 Appropriateness
 Whose problem is it?
 How good is good?
 Show me the money!

8. 8
from ENVIRONMENT to ECOSYSTEM
Adjustment
Improvement
Innovation
Entrepreneurial Spirit
(Entrepreneurship)
Business Environment Entrepreneurial Innovation
Ecosystem
Density
“Failure”
Fast – Smart – Cheap
Complexity
SPEED = STRESS
Encourage
Support
Hand-on

9. Startup? 1. Innovation:
Novelty + Usefulness
New products and services
New process of production
and distribution.
New way of doing business.
New business model
2. High Growth
Scalability
Speed of growing

11. Mô hình Kinh doanh
Cái gì được cung cấp cho khách hàng?
Bằng cách nào giá trị được tạo
ra và chuyến tới khách hàng?
Ai là phân khúc khách
hàng mục tiêu?
Tại sao hoạt động kinh
doanh có lợi nhuận?
Tuyên bố giá trị
Mô hình doanh thu
Chuỗi giá trị
Mô hình Kinh doanh trình bày cách thức công ty tạo ra giá trị và
chuyển hóa các giá trị đó thành tiền
Cái gì?
Tại
sao?
Thế
nào?
Ai?

12. INNOVATION-DRIVEN BUSINESS

13. Triple Helix
Government
Academia
Corporation
Người Khởi Nghiệp
(Entrepreneur)
Nhà ĐMST
(Innovator)
Cố vấn
(Mentor)
Chương trình ươm
tạo (Incubator)
Nhà đầu tư
(Investor)
Đối tác doanh nghiệp
(Corporate partner)
Nhà tài trợ
(Funder/Sponsor)
Chính quyền/Cơ quan
quản lý
(Government)
Nhà cung cấp dịch vụ
(Service provider)
Entrepreneurial Spirit (Entrepreneurship): Mindset
Create Value, be aware of and capture Opportunities,
and accept Uncertainty
Innovation: Toolset
From idea to product/service to commercialization

14. Ecosystem monitoring & evaluation:
 Data-driven policy decision
 Public support to ecosystem players: Top-Down &
Bottom-Up
 Rethinking the role of government: sustainable
resources
Corporate Engagement:
 Understand the corporate customers:
 need, demand, insight
 An active player: more collaborative
 Encouragement and Incentives
Promote startup and innovation investing:
 Fund of fund, co-investing
 Effective enforcement of existing policies
 Incentive and promotion policies
Local ecosystems
 Comparative competitive advantages
 Local resources
Coordination and cooperation
Government
Academia
Innovation
Corporation
Entrepreneurship & Innovation:
Dual Engine for Economic Growth

15. 15
Entrepreneurial Ecosystem of Innovation
in University
Education:
Disseminate Knowledge
Research:
Create Knowledge
Innovation:
Commercialize Knowledge

16. Activities in Universities
• Events and competitions
• Training: entrepreneurship &
innovation
• Mentorship
• Incubation
• Investment: seed, pre-seed
• Technology transfer

17. Building Ecosystem in
University
Follow the vision and mission of the
universities
Support from top leaders
Make use of existing resources
Connection, Coordination, Collaboration
It is all about the implementation
Be patient: it is a long journey

18. 1- Events & Activities
2- Services
3- Programs
Start with the pioneer(s)!
- Entrepreneurial spirit
- Understand entrepreneurship
and innovation
- and ect.
Municipal Ecosystem:
Now and Here

19. 19
Speaker • Event
Local Experienced Entrepreneurs

20. 20
Building Municipal Ecosystems
 Leverage comparative competitive advantages
 Follow socio-economic development plan
Support from top leaders
Local and existing resources
Connection, Coordination, Collaboration
Implementation
 Be patient
Speaker • Event

21. Ha Noi Capital City
• Population: 8 – 10 mln
• GDP: $38 bln
• GDP per capita: $4000
• Pace of Biz: Low-Moderate
• Advantage: Pool of talents, strong universities;
product-focused
• Satellites:
• Hai Phong
• Bac Ninh
• Thai Nguyen
• Central Gov:
• MOST: 844
• MPI: NIC
• MoIC
• City Gov: New startup support program
• CoWorking Spaces: Cogo, Up, many others
• Incubators & Accelerators:
• State-run & university-based
• ThinkZone
• Local Investors: conservative

22. Da Nang – the Hub of
Central Region
• Population: 1.5-2 mln
• GDP: $4.3 bln
• GDP per capita: $3,865
• Pace of Biz: Moderate; direct
• Advantage: Hidden charms
• Relatively low cost of living
• Expat community; tech nomad
• Outward positioning
• Satellites:
• Hue
• Quang Nam
• Quang Ngai
• Central Highland
• City Gov: Regional Hub of Innovation
• CoWorking Spaces: Surf Space, and others
• Incubators & Accelerators:
• DNES
• Song Han Incubator
• Viet Nam Innovation Hub in Da Nang
• Local Investors: still early
“We want to do good things
for our city”

23. Ho Chi Minh city – the
Engine of Economic Growth
• Population: 13+ mln
• GDP: $58 bln
• GDP per capita: $6,430
• Pace of Biz: Fast; risk taking
• Advantage: economic hub; market-oriented
• Satellites:
• Binh Duong
• Dong Nais
• City Gov: Startup Exchange, Startup Runway Programs
• Co-working Spaces: Up, Toong, Dreamplex, Circo,
others
• Incubators & Accelerators:
• State-run & university based: SiHub, SHTP IC, ITP
• BSSC, Zone Startup Viet Nam, IPB
• Local Investors: active

24. Thank you very much