Solutions to Promote Open Innovation Models for Enterprises in Ho Chi Minh City, Vietnam

In the context of Industry 4.0 and the strong development of digital technology, the open innovation model has become a strategic factor that helps businesses enhance competitiveness and adapt to rapid market changes. This paper uses secondary data collection methods, statistics, analysis, and expert methods to introduce the theoretical basis of open innovation, the challenges and opportunities enterprises in Ho Chi Minh City face when applying this model, and the experiences of global enterprises in implementing open innovation. Additionally, the paper surveys the current application of open innovation in local enterprises, thereby proposing a series of solutions such as enhancing collaboration between businesses and research institutes, promoting connections with the startup ecosystem, and supporting policies from local authorities. The research results contribute to providing a comprehensive perspective and specific recommendations to promote the open innovation model in Vietnam, particularly in Ho Chi Minh City.