Fostering Entrepreneurship among Academia: A Study of Vietnamese Scientist Commercialization

Abstract:Commercialization of scientists’ inventions greatly contributes to the development of a country, yet the success ratio of this process is very low. Besides, research results on commercialization in developed countries are not readily applicable to Vietnam where the market institution has not been well functioning. This research examines the commercialization of scientists’ inventions in Vietnam (hereafter, scientist commercialization). The objectives are to identify factors that influence Vietnamese scientist commercialization. Drawing on networking, leadership, and motivation theories and data from a sample of scientists working at the Vietnam Academy of Science and Technology, the study shows that access to research funding, networking with businesses, leaders’ experience, and pecuniary and prosocial motivation are positively related to commercialization. The results shed light on the theoretical development of commercialization in developing countries. The research also discusses practical implications for promoting scientist commercialization in Vietnam.