The State of the Open Innovation in Vietnam 2023: Lack of significant pioneers

The innovation ecosystem in Vietnam has experienced a year with both bright and challenging aspects, said the latest Vietnam Open Innovation Ecosystem Report 2023 by BambuUP. In order for businesses to sustainably thrive in the BANI 2030 world, they need to prioritize adapting to global trends and ensuring the protection of their intellectual property assets.

After over 3 months of implementation, the Vietnam Open Innovation Ecosystem Report 2023 has officially been launched. The recent report launch ceremony was successfully organized with a virtual exhibition experience, featuring representatives from Vietnam, South Korea, Thailand, Singapore, Australia, Israel, and more.

The 2023 report continues to serve as the most comprehensive and up-to-date reputable database on the innovation ecosystem in Vietnam for leaders, managers, and business strategy developers. The report synthesizes survey data, analysis, and forecasts with the consultancy of over 45 top experts in Vietnam across the fields of Business Administration, Strategic, Entrepreneurship, Technology, Investment, etc. It provides valuable advisory insights, guiding businesses on innovation and strategic development to survive and adapt during the forecasted period of continued upcoming changes. The potentials and challenges for businesses and corporations in Vietnam are consolidated through in-depth analysis of global trends in innovation and technology, both regionally and in the specific context of Vietnam. Additionally, the report proposes various approaches and guidelines to assist businesses in transitioning to open innovation, facilitating a smooth entry into the new operational year.

According to the report, Vietnamese businesses still face numerous obstacles in implementing Innovation and Creativity (I&C). According to a survey report, 75% of surveyed businesses stated that they have not fully grasped the crucial role of open Innovation and Creativity (I&C), leading to a lack of clarity in realizing I&C motivations. In the context of the I&C ecosystem in 2023, Vietnamese businesses are showing a shift in priorities regarding open I&C across different operational areas. Specifically, the Marketing & Sales sector is becoming a focal point, with 73% of surveyed businesses planning to implement I&C in the future. This represents a substantial increase of 48% compared to 2022. Conversely, the Research and Development (R&D) sector continues to play a vital role in I&C plans, indicating a sustained emphasis on innovation and research.

To help enhance the Open Innovation capabilities of businesses, this year's report continues to present exemplary Open Innovation models within typical enterprises. It showcases how leading businesses are currently implementing Open Innovation activities, opening up issues and challenges within their operations, and being willing to connect with solutions and intellectual assets beyond the scope of the enterprise. This year, the report introduces more than 10 topics from large businesses and corporations in Vietnam to identify suitable solutions from the technology solution market and startups in Vietnam. The topics cover a diverse range, including digital transformation, e-commerce, ESG, and more.

Vietnam Hochiminh City
nhulien@bambuup.com

BambuUP is an open innovation platform which facilitates meaningful connections between Innovation providers & seekers

This release was published on openPR.