Development of university spin-offs: Theoretical background, International practices and lessons for Vietnam

The demand for establishing university spin-off companies through effective and robust international partnerships has become increasingly urgent in the context of redefining the mission of universities from solely providing high-level education to also encompassing scientific research and technology transfer. Employing methods such as document analysis, case studies, surveys, and synthesis, this paper provides an overview of both theoretical and practical aspects of international spin-off development, and derives valuable lessons for Vietnam to enhance the partnerships between universities and businesses. The research results indicate that university spin-off companies have been flourishing globally in recent years, highlighting the importance of bilateral cooperation between universities and enterprises in developing spin-offs with global competitive capabilities. Hence, to enhance autonomy in the spin-off development process towards the goal of sustainable national development, Vietnamese universities should focus on deepening their cooperation with businesses, addressing foundational legal issues, and facilitating the transfer of knowledge and technology from universities to enterprises.