The path to success for Vietnam’s startup ecosystem would be made easier by its participants working together not apart.

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.

VET-Huyen Thuong