TTLA: Policy on developing venture capital funds to promote technological innovation in enterprises (Case study of mechanical engineering enterprises in Ho Chi Minh City)

1. Full name of PhD student: Pham Duy Hieu 2. Gender: Male

3. Date of birth: July 13, 1958 4. Place of birth: Ho Chi Minh City

5. Decision on recognition of PhD students No. 3216/2014/QD-XHNV-SDH, dated December 31, 2014 of the President of the University of Social Sciences and Humanities, VNU

6. Changes in training process: No

7. Thesis topic: Policy on developing venture capital funds to promote technological innovation in enterprises (Case study of mechanical engineering enterprises in Ho Chi Minh City).

8. Major: Science and Technology Management

9. Code: pilot

10. Scientific advisor: Associate Professor, Dr. Tran Van Hai                                                

11. Summary ofnew resultsof the thesis: Forming a policy framework for developing venture capital funds to promote technological innovation in enterprises, including factors in decreasing order of impact: Improving technological innovation capacity, Developing infrastructure, Regulations on venture capital joint ventures, Regulations on venture capital funds, Government support, Tax incentives and Development of types of venture capital. Providing recommendations on the implementation of 7 factors with 33 related activities of the policy framework for developing venture capital funds to promote technological innovation in enterprises.

In addition, the thesis also proposes a suitable joint venture model between small and medium-sized enterprises in the mechanical engineering industry with domestic and foreign venture capitalists (corporate venture capital - CVC) with the most advantages stemming from the characteristics of corporate venture capitalists - CVC - which can support enterprises in developing technology, accessing new markets, supporting enterprises in linking and consuming products. When forming a joint venture, the invested enterprise has advantages in penetrating new markets, receiving expert support, stable investment finance, participating in the value chain and ecosystem for developing products, ... these factors increase the position and brand of the enterprise.

12. Practical applicability: useful reference documents help policy makers have a basis to orient the development of tools and solutions in the policy framework for developing venture capital funds to promote technological innovation in enterprises.

13. Further research directions: In addition to funding technological innovation, venture capital also serves many other goals in society such as startups, R&D, inventions, etc. In order for the venture capital fund development policy to cover "creating an environment" for many creative activities, in the coming time, it is necessary to expand the survey of venture capital capital needs of creative activities as above, expand the research subjects to assess the needs and desires of the supply and demand sides, especially the demand side of venture capital capital, in order to add more policy framework elements to be able to perfect the venture capital fund development policy.

14. Published works related to the thesis:

1. Pham Duy Hieu (2016), “Developing Venture Capital Funds and Startups in Vietnam”,Development and Integration Magazine29 (39), pp. 75-78, 85.

2. Pham Duy Hieu^a(2017), “Venture capital funds: a source of finance for technological innovation in the agricultural mechanical industry”,Development and Integration Magazine33(43), pp. 43-49.

3. Pham Duy Hieu^b(2017), “Technology transfer activities in Australia - Issues for Vietnam”,Technology transfer organization and activities: Australian experience and recommendations for Vietnam, World Publishing House, pp. 199-207.

4. Pham Duy Hieu (2018), “Venture capital development policy in Vietnam”,Development and Integration Magazine39 (49), pp. 15-23, 29.

5. Pham Duy Hieu*, Thai Ngoc Sang (2018), “Policy and national economic development: Vietnam and participation in CPTPP”,Development and Integration Magazine40 (50), pp. 8-12.

INFORMATIONOF DOCTORALTHESIS

1. Full name: Pham Duy Hieu 2. Sex: Male

3. Date of birth: July 13th, 1958 4. Place of birth: Ho Chi Minh City

5. Admission decision number: 3216/ 2014/ QD-XHNV-SDH. Dated December 31, 2014

6. Changes in academic process: No.

7. Official thesis title: Policy to develop venture capital fund to promote technological innovation in enterprises (Case study of manufacturing mechanical enterprises in Ho Chi Minh City).

8. Major: Management Science and Technology 9. Code: Pilot

10. Supervisor: Assoc. Prof. Dr. Tran Van Hai

11. Summary of thenew findingsof the thesis: Establishing a policy framework for developing venture capital funds to promote technological innovation in enterprises, including factors in descending order: Enhancing capacity technology innovation force, Infrastructure development, Regulation on venture capital venture, Regulation on venture capital fund, Government support, Tax incentives and Development of sources of venture capital. Make recommendations on the implementation of 7 elements with 33 related activities of the venture capital development policy framework to promote technological innovation in enterprises.

In addition, the thesis also provides a suitable joint venture model between small and medium-sized enterprises in the field of mechanical engineering with domestic and foreign corporate venture capitalists - CVC. In this kind of joint venture the corporate venture capitalists can support enterprise to develop technology, access new markets, support in product consumption, new markets, receive expert support, stable investment finance, participate in the value chain and product development.

12. Practical applicability, if any: Findings are a useful reference document that helps policy makers to develop of tools and solutions in the framework of policies for developing venture capital funds to promote technological innovation in enterprises.

13. Further research directions, if any: In addition to providing capital for technological innovation, venture capital also serves many other goals in society such as start-up, R&D, invention, etc. Therefore it is necessary to assess the diverse needs and desires of the supply and demand sides to add policy framework elements in order to perfect the venture capital development policy.

14. Thesis - related publications:

1. Pham Duy Hieu (2016), "Developing Venture Capital and Start-ups in Vietnam", Journal of Development and Integration29 (39), pp. 75-78, 85.

2. Pham Duy Hieu^a(2017), "Venture capital fund: the source of technological innovation in agricultural mechanics",Journal of Development and Integration33 (43), pp. 43-49.

3. Pham Duy Hieu^b(2017), "Technology transfer activities in Australia - Issues for Vietnam",Organization and technology transfer activities: Australian experience and recommendations for Vietnam, International Publisher, pp. 199-207.

4. Pham Duy Hieu (2018), "Policy on developing venture capital in Vietnam",Journal of Development and Integration39 (49), pp. 15-23, 29.

5. Pham Duy Hieu, Thai Ngoc Sang (2018), "National policy and economic development: Vietnam and CPTPP participation",Journal of Development and Integration40 (50), pp. 8-12.