A successful startup university is measured by its ability to create practical value from knowledge, as opposed to traditional criteria, such as training quality or number of research projects. In fact, relying solely on research or patents to evaluate achievements does not accurately reflect the effectiveness of technology transfer, because this process requires a comprehensive support ecosystem including mentors, finance, legal and strategy.
However, many Vietnamese universities still face difficulties in implementing this transformation due to the lack of mechanisms to support spin-offs, close links with businesses and research-based product development. According to Dr. Do Hoang Tung, to create real value, inventions need to go hand in hand with product development that is practically tested in the market, requiring close cooperation among research, businesses and managers. This builds a strong ecosystem that helps promote innovation and the success of startup university models.
In the international context, and in Estonia in particular, policies and measurement methods have also changed significantly. Instead of focusing on the number of patents, small economies like Estonia focus on continuous innovation, rapid product improvement, and maintaining competitive advantage through biennial surveys of new product revenues and technology commercialization activities from universities. This policy, along with adjustments to funding criteria and budget allocation, has helped universities transform into innovation hubs, promoting breakthrough development, not just research and teaching facilities. |