Open innovation policy for small and medium enterprises in Hanoi city

Authors

  • Nguyen Huy Cong
  • Le Hung Lan
  • Nguyen Hoang Hai

Keywords:

Open innovation, Policy, SMEs, Supply-demand approach, Hanoi

Abstract

Small and Medium Enterprises (SMEs) play an important role in the economy of every country, not only because they represent a large proportion of the total number of businesses but also due to their flexibility and contribution to economic development. SMEs typically account for a large share of total businesses, generate numerous jobs, and make significant contributions to the local and national GDP. This paper explores and quantifies the factors affecting open innovation in SMEs. The research team adopts an innovation approach from the supply-demand perspective, using a mixed-methods approach that combines qualitative and quantitative analysis, based on a survey of 38 businesses operating in Hanoi, Vietnam. The research findings show that all eight initially proposed factors have a positive impact on open innovation in businesses in Hanoi. Among these, the factors of financial resources (FR), competitive market (CM), and research and development (R&D) have the greatest impact on open innovation in SMEs in Hanoi. Based on these findings, the author proposes several breakthrough policy solutions to enhance open innovation in SMEs in Hanoi in the coming period.  

Code: 24110401

Downloads

Download data is not yet available.

Published

15-01-2025

How to Cite

Nguyen Huy Cong, Le Hung Lan, & Nguyen Hoang Hai. (2025). Open innovation policy for small and medium enterprises in Hanoi city. Journal SCIENCE AND TECHNOLOGY POLICIES AND MANAGEMENT, 13(4), 68–83. Retrieved from https://vietnamstijournal.net/index.php/JSTPM/article/view/559

Issue

Vol. 13 No. 4 (2024)

Section

STUDIES OF STRATEGIES AND MANAGEMENT

License

Authors who publish with this journal agree to the following terms:

    1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
    2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
    3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).