From startup growth to technology enterprises
According to the Global Startup Ecosystem Index 2026 by StartupBlink, Viet Nam climbed five places to 50th worldwide, its highest ranking to date. Ho Chi Minh City entered the top 100 global startup ecosystems for the first time, while Ha Noi, Da Nang and other localities also improved their positions. The country now hosts around 4,000 startups, 208 investment funds, 84 incubators and more than 20 support centres — evidence of a diversifying innovation landscape.
This expansion coincides with Viet Nam’s efforts to refine institutional frameworks for science, technology, innovation and digital transformation. The National Strategy on Innovative Startups sets a long‑term vision: to join regional leaders by 2030 and reach the global top 30 by 2045. Yet as the ecosystem matures, success will be judged not only by startup counts or rankings but by the ability to form competitive technology enterprises that create new economic value.
Experts note that in the early stage, startup numbers signal vitality. But as ecosystems evolve, more telling measures lie in technology commercialisation, enterprise scaling and the creation of products able to compete internationally.
Outcomes, not inputs, should define ecosystem quality. Indicators such as enterprise growth, fundraising capacity and technology commercialisation provide a clearer picture than investment volumes or programme counts.Dr Nguyen Huu Xuyen of the Viet Nam Institute of Science and Technology Strategy
Dr Nguyen Huu Xuyen of the Viet Nam Institute of Science and Technology Strategy stressed that outcomes, not inputs, should define ecosystem quality. Indicators such as enterprise growth, fundraising capacity and technology commercialisation provide a clearer picture than investment volumes or programme counts.
From this perspective, the challenge is not simply nurturing more startups but producing enterprises capable of developing strategic technologies, scaling up and embedding themselves in global value chains.
In May, five Vietnamese startups signed cooperation agreements with Japanese firms under the Viet Nam–Japan Incubation Programme, run by the National Innovation Centre (NIC), the UNDP and partners. Projects applying AI, IoT and advanced manufacturing are opening pathways for Vietnamese technologies and business models to enter international markets.
Viet Nam’s ecosystem is at a turning point: shifting from quantity to quality. The transition will depend on mobilising long‑term capital, commercialising research, expanding markets and strengthening corporate governance.
Yet the research‑to‑market gap remains a bottleneck. Many promising outcomes stay at laboratory scale or as academic projects, never reaching commercialisation.
Deputy Director Pham Duc Nghiem of the National Agency for Technology Entrepreneurship and Commercialisation under the Ministry of Science and Technology highlighted spin‑offs as an effective route to translate research into products. However, weak links between universities, businesses and investors hinder the development of competitive technologies.
Many experts believe Viet Nam’s ecosystem is at a turning point: shifting from quantity to quality. The transition will depend on mobilising long‑term capital, commercialising research, expanding markets and strengthening corporate governance.
Against the backdrop of Resolution No. 57‑NQ/TW of the Politburo on breakthroughs in science, technology, innovation and digital transformation, building firms that master core technologies is both a requirement and a pathway to greater technological autonomy and national competitiveness.
Strategic technologies as breakout opportunities
The world is entering a new wave of technologies — AI, big data, semiconductors, biotechnology, novel materials and quantum computing. Experts see this as a chance for latecomer nations to narrow gaps and integrate more deeply into global value chains.
Viet Nam has identified AI, semiconductors, big data and other foundational technologies as priorities. The National Programme on Strategic Technology Development and Decision No. 21/2026/QD‑TTg define ten groups of strategic technologies and priority products including AI, semiconductors, quantum technology, robotics, low‑earth‑orbit satellites, green hydrogen and core digital infrastructure. These are expected to drive growth and strengthen technological self‑reliance.
AI, in particular, is lowering development costs and accelerating market entry. But opportunities only become advantages when paired with mastery of the technology and a robust supporting ecosystem.
The ecosystem’s success will hinge not on startup counts or support programmes, but on its ability to convert knowledge into products, technology into enterprises, and innovation into engines of economic growth.
Assoc. Prof. Dr Truong Ngoc Kiem, Director of the High‑Tech and Innovation Park at Viet Nam National University – Ha Noi, noted that the ecosystem is expanding rapidly, with around 80 incubators, mainly in Ha Noi and Ho Chi Minh City. Yet many technologies remain at project stage, not commercialised. Spin‑offs from universities and research institutes still face hurdles in funding, mechanisms and market access.
To bridge the research‑to‑market divide, some localities are innovating their approach. Ho Chi Minh City aims to raise R&D spending to 2–3% of GRDP by 2030, placing enterprises at the centre of the ecosystem and strengthening links with universities to accelerate commercialisation. Capital, however, remains a barrier. Deeptech markets are still nascent, while AI, semiconductor and biotech projects demand large, long‑term investment.
The National Innovation Startup Strategy proposes measures including institutional frameworks, regulatory sandboxes, entrepreneurship education, innovation centres and international resource attraction. Yet the ecosystem’s success will hinge not on startup counts or support programmes, but on its ability to convert knowledge into products, technology into enterprises, and innovation into engines of economic growth.
