USING SWOT MODEL TO ANALYSE STARTUP DEVELOPMENT IN THE CONTEXT OF INDUSTRY 4.0: THE CASE OF VIETNAM

Author's Name: Dr.Vu Van Hung & Dr. Ho Kim Huong
Subject Area: Social Science and Humanities
Subject Economics
Section Research Paper

Keyword:

Industry 4.0, Startup, Startup enterprises (Startups)


Abstract

Industry 4.0 has created many opportunities and challenges for startup in order to improve business efficiency, promote the start-up process strongly in Vietnam recently. The paper focuses on the strengths, weaknesses, opportunities and challenges for Vietnamese start-up in the context of Industry 4.0 by using SWOT model. As a result, it finds some important reasons to explain why Vietnam start-up is not really effective. The reasons are an unsuitable start-up ecosystem, the lack of legal system, the weakness of startup’s competitiveness, the lack of capital and innovative ideas and the misuse of strengths of Industry 4.0… In that context, the government needs to build a suitable startup ecosystem, create a stable macroeconomic environment, support startups so that they can access to capital easily. And the government has mechanisms and policies to help startup enterprises to enhance innovation in the direction of developing digital technology.

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