Evaluating Strategies to Create Successful Business Incubators in Higher Education in Vietnam

Abstract

In recent years, the landscape of higher education has undergone a significant transformation in response to the evolving needs of students and society. One of the notable shifts is the growing emphasis on fostering entrepreneurial skills and supporting innovation. Business incubators in higher education institutions have emerged as a key mechanism to bridge the gap between academia and industry, enabling students and faculty members to turn their innovative ideas into successful ventures. This article examines strategies for establishing effective business incubators within higher education institutions in Vietnam. With the growing emphasis on fostering entrepreneurship and innovation, business incubators play a crucial role in bridging the gap between academia and industry. This study also evaluates key strategies for successful incubators, including leadership, tailored support programs, industry partnerships, funding access, physical infrastructure, training, and monitoring. The context of Vietnam's dynamic economy and burgeoning startup ecosystem provides a unique backdrop for assessing these strategies. Through a mixed-methods approach involving 189 surveys, in-depth interviews, and case studies which aim to offer insights into optimizing business incubation processes and contributing to economic growth. Through rigorous analysis and the exploration of stakeholder perceptions, this research endeavors to contribute to the discourse surrounding the strategies that underpin successful business incubators in the context of higher education in Vietnam. The findings of this study hold the potential to inform higher education institutions, policy-makers, and entrepreneurs about the most effective strategies for fostering innovation and entrepreneurship within incubator programs.