Technological Catch-Up and Innovative Entrepreneurship in Vietnamese Firms

Claudio Petti, Minh Nguyen Dang Tuan, Tuan Nham Phong, Mai Pham Thi, Thao Ta Huong and Vishnu Varthan Perumal
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Claudio Petti: Department of Engineering for Innovation, University of Salento, 73100 Lecce, Italy
Minh Nguyen Dang Tuan: KisStartup, Hanoi 100000, Vietnam
Tuan Nham Phong: School of Business Administration, University of Economics and Business, Vietnam National University, Hanoi 100000, Vietnam
Mai Pham Thi: KisStartup, Hanoi 100000, Vietnam
Thao Ta Huong: KisStartup, Hanoi 100000, Vietnam
Vishnu Varthan Perumal: Department of Business and Management, LUISS University, 00198 Rome, Italy

Administrative Sciences, 2021, vol. 11, issue 3, 1-18

Abstract: The article analyses the dynamics of technological catch-up through entrepreneurship in latecomer firms to emerging markets. With this aim, the article introduces Vietnam’s experience and illustrates the result of three case studies of Vietnamese technology firms at different stages of their evolution. Insights from the cases reveal all follow an incremental innovation model based on business model ‘soft’ innovations, mainly in customer-facing activities and partnering, as well as limited products and technology adaptation to local market needs. Consistently with latecomer firms’ theory, the market drives these firm’s innovation efforts, which are concentrated on developing new services and comprehensive solutions rather than new technologies. Comparisons of the findings with recent and similar experiences of Chinese firms highlight that different stages of catch-up lead to different innovation practices in nature and degree, and the need to strengthen institutions to face competition, rather than use the former to shelter from the latter. The Vietnamese firms’ innovation practices and catch-up patterns found are then discussed under the perspective of reaping the benefits of international knowledge and technology flows and the specific challenges faced by Vietnam. The paper concludes with several reflections, lessons learned and perspectives for other newly industrializing emerging countries.

Keywords: catch-up; latecomer firms; entrepreneurship; tech-based firms; Vietnam (search for similar items in EconPapers)
JEL-codes: L M M0 M1 M10 M11 M12 M14 M15 M16 (search for similar items in EconPapers)
Date: 2021
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