[FAIE] Lac Hong University: Enhancing the Effectiveness of the Student Startup Ecosystem

Entrepreneurship is becoming an inevitable trend in the new era, and Lac Hong University (LHU) is one of the pioneering universities in promoting entrepreneurship among students. Over the years, LHU has generated and supported more than 100 startup projects.

These achievements have affirmed LHU’s position as one of the leading universities in fostering the entrepreneurial ecosystem in Vietnam.

In recent years, entrepreneurship has become an inevitable trend of the new era. It is not only an opportunity to address unemployment but also a way to create new value and contribute to socio-economic development.

In Vietnam, entrepreneurship has also received increasing attention. According to a report by the Ministry of Science and Technology, in 2022, more than 20,000 startups were established nationwide, marking a 10% increase compared to 2021. Among them, many startups have achieved success, delivering valuable products and services that contribute to improving people’s lives.

Lac Hong University (LHU) is one of the leading universities in promoting student entrepreneurship. In recent years, LHU has achieved remarkable accomplishments in this field, reflected in impressive figures:

More than 100 startup projects have been created and supported. This impressive number demonstrates LHU’s active efforts in fostering entrepreneurial spirit among students, youth, and women in the locality and region, creating a favorable environment for their business ideas.

Nearly 10 intellectual properties have been commercialized. This shows that LHU not only focuses on the number of startups but also emphasizes quality, supporting startups in developing commercially valuable products and services.

More than 10 lecturers have been trained as startup mentors. A team of experienced and professionally trained lecturers and advisors serves as a valuable support system, guiding students and helping them overcome challenges.

Diverse support models: LHU provides a comprehensive support system that meets all the needs of student entrepreneurs, including:

• Establishment of the Entrepreneurship Club in 2016, creating a dynamic playground for startup-minded students.

• Investment in a Coworking Space since 2018, offering students a professional environment for collaboration and innovation.

• Establishment of the Student Innovation Center (SIV in Dong Nai) in August 2023, providing specialized services to help students confidently pursue entrepreneurship.

• Training and capacity-building programs (IPP, ACSE, CEFE, SIYB, MEP), equipping students with essential knowledge and skills for successful entrepreneurship.

• Startup competitions, creating opportunities for students to showcase ideas, seek funding, and build partnerships.

With these achievements, it is evident that entrepreneurship at LHU is developing strongly and is expected to continue growing in the future. This success can be attributed to several key factors:

Strong institutional commitment and investment: LHU consistently prioritizes and invests in entrepreneurial activities. The university has built a comprehensive startup ecosystem, providing students with extensive opportunities and resources.

Growing entrepreneurial spirit among students: LHU students are increasingly confident and determined to pursue their startup dreams.

Support from organizations and enterprises: LHU has received strong support from various organizations and enterprises in promoting entrepreneurship, including the Vietnam Startup Mentors Alliance (VSMA), the Southern Startup Advisory and Support Council, the Dong Nai Innovation Startup Ecosystem Coordination Council, the Design Thinking Village under National Techfest, the Student Innovation Village under National Techfest, and the Dong Nai Young Entrepreneurs Association. This support enables LHU startups to access funding, markets, and practical experience.

LHU’s achievements in entrepreneurship have been widely recognized. In 2023, LHU was honored to receive a Certificate of Merit from the Minister of Education and Training for its outstanding contributions over five consecutive years in implementing the project “Supporting Students in Entrepreneurship until 2025.”

Founded on September 24, 1997, LHU became the first university in Dong Nai Province. Its establishment aligned with development trends and met the urgent demand for technical human resources in a province known for strong socio-economic growth, particularly in industrial zones and service sectors.

Located in Bien Hoa, Dong Nai, LHU has undergone many years of development to become a multidisciplinary university. With a strategy aligned with social demands, the university recently introduced a Bachelor of Pharmacy program to provide high-quality pharmaceutical professionals to meet societal needs. Today, LHU has developed comprehensively in terms of academic programs, professional activities, international cooperation, and facilities.

LHU provides high-quality human resources equipped with solid professional knowledge, practical competencies, management capabilities, and essential soft skills such as information technology, foreign languages, communication, and teamwork.

These graduates possess strong political awareness, ethical values, social responsibility, creativity, professional accountability, and good health, enabling them to contribute meaningfully to societal development. The university also creates a favorable environment for nurturing talent, encouraging knowledge development, research activities, and postgraduate studies both domestically and internationally.