Roundtable Discussion on Vietnam's Innovative Entrepreneurship

On the sidelines of the 14th Annual Conference of Vietnamese Economists (VEAM-2023), on the afternoon of July 25th, the University of Economics, Da Nang University organized a Roundtable Discussion on Vietnam's Innovative Entrepreneurship. This roundtable marked a significant occasion where delegates engaged in discussions and explored the vibrant landscape of entrepreneurship spirit in Vietnam, as well as the crucial role of innovation and creativity in driving economic growth and development.

The conference was attended by two keynote speakers, namely Dr. Dang Quang Vinh, Senior Specialist in Private Sector Development at the World Bank in Vietnam, and Dr. Le Thi Thuc, Deputy Director of the Department of Science and Technology of Da Nang. The event also saw participation from leaders of various departments within the University, along with faculty members and researchers who share a keen interest in the subject.

Dr. Dang Quang Vinh presented several insightful ideas on entrepreneurship and innovation in Vietnam

 In a global context, Vietnam has emerged as a progressive example and a hub of innovation. The nation's entrepreneurial spirit has catalyzed dynamic advancements across various industries, bringing about noteworthy economic and social transformations. The roundtable discussion served as a platform for open dialogue and knowledge exchange. The ideas shared and discussed during the session stimulated thinking, shared experiences, and highlighted best practices that have contributed to the success of innovative entrepreneurship in Vietnam and Da Nang.

During the presentation titled 'Vietnam Innovative Entrepreneurship Diagnostic - Findings and Recommendations,' at the roundtable, Dr. Dang Quang Vinh asserted that innovation is the key to productivity growth. He emphasized that Vietnam needs to bolster innovation to achieve the aspiration of becoming a high-income nation by 2045. Dr. Dang Quang Vinh's research also focused on policy considerations to foster an entrepreneurial and innovative ecosystem, covering supply, demand, and support frameworks. He proposed policy actions to enhance entrepreneur innovation. The speaker suggested solutions for innovative entrepreneurship: Strengthen the contribution of research and development, Modernize the intellectual property ownership framework and technology transfer aligned with international best practices, Eliminate legal barriers for establishing subsidiary companies, Include data related to commercialized research, technology transfer, and inter-industry collaboration in career development and salary increments, Build core capabilities in commercialization and technology transfer at universities and research institutes, Implement Singapore's streamlined LaunchPad program: A 10-week course for researchers and engineers to understand technology commercialization.

Dr. Le Thi Thuc proposed directions for innovative entrepreneurship in Da Nang

For Da Nang city, Resolution No. 43 of the Politburo on the construction and development of Da Nang aims to establish the city as a center for entrepreneurship and innovation. To achieve this goal, city leadership has enacted numerous policies and directives at various levels to focus on implementing activities related to innovative entrepreneurship.

Noteworthy initiatives include Program No. 36 by the Party Executive Committee on High-Tech Development, transforming Da Nang into a national-level innovation and creativity center, and Decision No. 3836 by the Da Nang People's Committee approving the “Establishment of Da Nang as a national innovation and creativity center in the Central Highlands region”. Resolution No. 328 by the Da Nang People's Council outlines the content and budget allocation from the state budget to support the innovative entrepreneurship ecosystem within the city by 2025. With these achievements, in 2020 and 2022, Da Nang received the title of “Attractive City for Innovative Entrepreneurship and Creativity” twice, awarded by the Vietnam Software and IT Services Association.

Delegates engage in discussions during the conference

The orientation of developing the innovative start-up ecosystem of Da Nang City is to build Da Nang City into one of the major socio-economic centers of the country and Southeast Asia with the role of Center for Entrepreneurship and Innovation. Dr. Le Thi Thuc proposed a number of tasks to focus on developing the innovative startup ecosystem in Da Nang City in her presentation: Continue to implement projects to develop an innovative startup ecosystem; Project to support young entrepreneurs, start-up women, start-up students; Promote communication and connection activities on innovation startups, Organize Innovation Start-up Contest (SURF), Scientific Research Student Contest, Chain Innovation Startup Competition Young Creative Festival events, a series of Creative Startup Festival events; Developing infrastructure for innovative start-ups (Creative space at Software Park No. 2, Building for working and training on innovative start-ups); Support the development of creative spaces and co-working spaces. Promote the establishment of the National Innovation Startup Support Center in Da Nang.

Representative of the Organizing Committee of the VEAM 2023 Conference Giving gifts to thank the two speakers

After the presentations by the two keynote speakers, the participants engaged in discussions and shared ideas on developing innovative entrepreneurship in Vietnam, particularly in Da Nang, and notably for students at the University of Economics, Da Nang University. As a key university in Da Nang, the University of Economics, Da Nang University has undertaken various activities, including establishing startup clubs, organizing competitions, forums, and roundtable discussions for lecturers, students, and businesses on entrepreneurship and innovation to support and foster the entrepreneurial spirit among students and lecturers. Startup Runway, a renowned event and a brand of the university, has become a shining example. Startup Runway aims to provide a common 'playground' for students and lecturers passionate about entrepreneurship, offering them opportunities for learning and connecting with experts, entrepreneurs, and supporting organizations.

By promoting a robust business culture within the academic community, the University of Economics, Da Nang University, is empowering its students with the necessary skills and knowledge to become agents of change and successful innovators.

Center for Information and Communication Technology