However, many obstacles need to be removed for this model to truly become a driving force for the commercialization of technology, especially the development of strategic technologies.
Lesson 1: Bringing Technology to Market
The legal framework for spin-off business models in Vietnam is relatively complete. This is considered an important foundation for research institutes and universities not only to create knowledge and technology, but also to effectively utilize the "three-party" model, with particular emphasis on connecting with businesses to jointly create value from the commercialization of research results, generate new growth drivers, and participate more deeply in the development of strategic technologies.
Shifting the roles of institutes and universities.
Although the system of research institutes and universities has produced a significant volume of scientific and technological results, the commercialization rate of inventions in Vietnam is only about 0.1%, much lower than the world average of 5% and the average of developed countries at 10%. Many intellectual property assets have only reached the stage of establishing rights and have not been effectively exploited to become a resource for development. Therefore, the gap between research and application remains a major bottleneck in the innovation ecosystem.
Resolution 57-NQ/TW and related documents have laid the policy foundation for the spin-off model with solutions such as: encouraging research organizations and scientists to establish and participate in the management of businesses based on research results; accepting risks, venture capital, and delays in scientific research, technology development, and innovation. The resolution also requires the formation of venture capital funds for innovative startups, technology incubation, and digital transformation, thereby paving the way for bringing research results from research institutes and universities to the market. The 2026 action plan of the Government Steering Committee on the development of science, technology, innovation, and digital transformation, and Project 06 also set the goal of establishing at least 30-50 new spin-off businesses from research results of universities and institutes in 2026; Simultaneously, the National Venture Capital Fund will be put into operation and invested in at least 10 startups and emerging businesses.
According to experts, world economic history records many outstanding achievements of the spin-off model, originating from the courage of scientists and the vision of university leaders. A prime example is Stanford University (USA), where Google was born from the research of two graduate students, Larry Page and Sergey Brin, in 1996.
International data shows that while 50-70% of traditional startups fail within the first five years, approximately 90% of spin-off businesses survive and thrive. For Vietnam, this model is considered a crucial strategy for bringing Vietnamese intellectual property from the laboratory to the global market. According to Pham Duc Nghiem, Deputy Director of the Department of Startups and Technology Enterprises, in the context of Vietnam's goal of mastering strategic technologies, the spin-off model is one of the suitable and effective ways to transform research results from the laboratory to the market. Without a mechanism for research groups to enter the market through spin-off businesses, many technologies, despite their potential, will remain only at the scientific publication or patent stage.
The legal framework for establishing and investing in spin-offs within public universities is relatively complete, including the Law on Science, Technology and Innovation, the Law on Higher Education, the Law on Intellectual Property, the Law on Technology Transfer, the Law on the Capital City, etc.
Pioneering models
In 2020, Phenikaa X Joint Stock Company, a spin-off specializing in commercializing robots, autonomous vehicles, and UAVs, was formed from AI and autonomous technology research groups at Phenikaa University. The company's solutions are now in practical operation in factories, hospitals, forests, urban areas, and are exported to international markets.
VinUniversity is also pioneering the implementation of the spin-off model through mechanisms, policies, and support for startup businesses. In 2025, Volterra Technology Joint Stock Company will be established within the VinUniversity ecosystem, built on a model that combines scientists holding core technologies with a team of entrepreneurs and management experts to bring technology to market. The company is developing advanced technologies such as Digital Twin, Big Data, AI, IoT, and BESS energy storage systems to solve problems optimizing electricity and renewable energy, especially in electric vehicle charging station infrastructure.
Mr. To Lang, CEO of Volterra Technology Joint Stock Company, said: “VinUniversity invests heavily in research centers and has open mechanisms to attract leading researchers and scientists from around the world. At the same time, the university's mechanisms and policies are established in an open and modern way, similar to models worldwide, stimulating and opening opportunities for scientists and entrepreneurs to participate in the commercialization of research results.”
Currently, the company implements a comprehensive technology solution including core technology (software and AI) and hardware (BESS battery storage, solar power), helping to generate profits of 40-60 million VND/month for charging station owners. Scientists act as both a technology team coordinating with the business operations department and continue researching new solutions based on practical problems posed by businesses, such as optimizing electricity costs on an industrial scale in the context of energy saving.
Practical experience shows that the spin-off model is not just a simple "commercialization channel" but also a crucial transition between research and the market. A research project may solve a technical problem very well in the laboratory, but only when it enters the market is the technology truly tested by customer needs and competitiveness. At that point, businesses are forced to optimize costs, cut unnecessary features, focus on needs that customers are willing to pay for, and design for scalability. It is this process that gives the research more practical value and long-term viability.
In particular, when scientists and engineers become shareholders in the businesses they create, they don't just transfer technology and then stop, but continue to take responsibility for perfecting the technology under market pressure. This is also considered one of the effective mechanisms for retaining talent, because scientists directly benefit from the value that their knowledge creates.
Most of the currently successful spin-off models are primarily found in the private sector or universities with more flexible mechanisms in governance, finance, and technology commercialization. While private corporations' spin-off models have begun to operate and commercialize technology, public research institutes and universities still face many obstacles regarding financial mechanisms, public assets, intellectual property, and the right of scientists to participate, hindering the formation of numerous spin-off businesses as intended.
(To be continued)
Source: https://nhandan.vn/chien-strateg-thuong-mai-hoa-cong-nghe-post964142.html
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