Necessity for the policy to reinforce the role of universities from innovative startup competitions at the innovative startup ecosystem in Vietnam

Abstract

Universities have always been a place to grow and foster innovation, which often leads to the founding of startups and the introduction of innovative goods or services. One key contributor to this occurs in the form of innovative startup competitions on a university level. In this paper, we highlight the role of such university startup competitions in providing a favorable environment for students to participate in innovation activities and to organize contests of innovative startup ideas. We further categorize innovative startup competitions in Vietnam as a real-world example, and present the results of a local survey on university student participation in innovative startup competitions. Finally, we suggest various solutions as the necessary policy to strengthen the role of universities in the existing startup ecosystem.