The 2026 startup competition also focuses on high-tech sectors such as semiconductors and integrated circuits, AI and robotics, digital transformation, smart agriculture, and clean energy

This view reflects a new requirement for Vietnam’s startup ecosystem: it must not only grow in numbers but also support companies to master technology, develop products and markets, and remain competitive.

From Higher Rankings to Higher-Quality Startups

Vietnam’s innovation startup ecosystem is making notable progress on the global startup map. According to StartupBlink’s Global Startup Ecosystem Index 2026, as updated by the Ministry of Science and Technology (MST), Vietnam climbed five places to rank 50th globally - its highest ranking to date. Notably, the value of Vietnam’s innovative startup ecosystem increased 67.9%, far above the 17.5% average growth of the Top 100 global ecosystems and the highest rate in Southeast Asia. Vietnam currently ranks fifth in Southeast Asia and 10th in Asia.

These figures show that innovative startup activity is gaining significant momentum. According to MST, Vietnam currently has about 4,000 startups, 208 investment funds, 84 incubators, and more than 20 startup support centers. Ho Chi Minh City entered the Top 100 global startup ecosystems for the first time, while Hanoi, Da Nang, and several other localities continued to improve their rankings.

However, international rankings reflect only part of the story. As the ecosystem has reached a significant scale, the focus is no longer simply on creating more startup projects, but on building businesses capable of surviving, growing, and competing through technology.

This also represents an important shift in policy. MST is moving from encouraging the entrepreneurial spirit and supporting project formation to connecting resources, developing businesses, promoting investment, commercializing technology, and expanding markets.

Recent startup activities show that this trend is becoming increasingly clear. In Da Nang, the SURF 2026 Innovation Startup Competition attracted more than 150 applications, with more than 60 projects selected for the preliminary round. The projects were not only selected but also guided in refining their products and business models, connecting with investors, and accessing support programs, with a focus on commercialization and sustainable development.

In Bac Ninh, the 2026 startup competition also focused on sectors capable of creating high technological value, such as semiconductors, integrated circuits, AI, robotics, digital transformation, smart agriculture, and clean energy. The criteria covered not only new ideas but also practical applications, market expansion, and commercialization. A technology startup that wants to go far cannot rely solely on an idea or an initial funding round. A business must prove what problem its technology solves, which customers are willing to pay, where its competitive advantage lies, and how it can expand its market.

Connecting Capital, Technology and Markets

eveloping an innovative startup ecosystem cannot be separated from the challenge of accessing capital. An effective ecosystem must help startups access capital, technology, experts, customers, and markets at the same time.

According to MST, the current direction is to put policies supporting innovative startups into practice while continuing to improve mechanisms to support innovative startup businesses and develop the science and technology market. In July 2026, MST issued six technology transfer registration certificates and continued to implement support mechanisms for science and technology businesses and innovative startups. This shows that capital and support policies need to be placed within a broader value chain: technology - business - market.

A startup with good technology but no access to large companies for testing will find it difficult to refine its product. Conversely, a manufacturing company with innovation needs but no access to suitable technology will also struggle to improve productivity. The gap between the two sides is where the ecosystem needs to play a connecting role. This is also why linking startups with the practical needs of localities and businesses is becoming increasingly important. Instead of leaving startups to identify problems to solve on their own, local authorities and large companies can put forward specific needs in logistics, manufacturing, agriculture, healthcare, energy, the environment, or urban management. Startups provide solutions, businesses provide testing environments and markets, while the State creates a legal framework and support mechanisms. This approach significantly shortens the gap between the laboratory or an idea and a commercial product.

From another perspective, the startup ecosystem also needs to establish closer links with research institutes and universities. MST identifies stronger connections among universities, research centers, and the innovation ecosystem as an important direction for bringing research results to market and forming science and technology businesses.

This offers significant room for Vietnam to form new technology companies based on the country’s own intellectual assets. Instead of research results stopping at scientific publications or completed research projects, technologies with potential can be further developed through startups, spin-offs, and science and technology businesses. In this way, innovative startups are no longer a “separate space” for people with business ideas but become a link in the process of turning knowledge into economic value.