LHU Successfully Develops the “Six-Component Incubation Model”.

Over the past six years, LHU students have had the opportunity to access entrepreneurship training programs such as CEFE, SIYB, IPP, ACSE, and MEP, achieving notable accomplishments recognized by both the student community and society.

Around May 2015, the late Rector of Lac Hong University (LHU) – NGND. PhD Do Huu Tai – shared with the author his concerns about students facing difficulties in finding employment. From that point, LHU’s entrepreneurship program began to take shape. The author studied the National Startup Program under VCCI and met journalist Dieu Oanh from Business Forum Newspaper (now Business Forum Magazine). Shortly thereafter, an entrepreneurship class was organized for LHU under the sponsorship of Business Forum Newspaper following Germany’s CEFE program.

To effectively implement the entrepreneurship program, we have developed and incubated an entrepreneurship ecosystem within the university.

This ecosystem consists of six main components:

First component: Startup enterprises.
We have invited Incomsoft Joint Stock Company as a key partner to participate in operating the Coworking Space and organizing sales training courses at three levels. After completing the training, students participate in real sales experiences based on the company’s existing products. In addition, the responsible unit connects with the National Startup Advisory and Support Council – Southern Region and the Dong Nai Young Entrepreneurs Association to source startup enterprises.

Second component: Entrepreneurial lecturers.
Lecturers involved must complete Training of Trainers (TOT) courses in entrepreneurship. Currently, LHU lecturers fully participate in all five entrepreneurship training programs available in Vietnam (ACSE, SIYB, CEFE, IPP, MEP).

Third component: Coworking Space.
This serves as the incubation venue. The goal is to incubate one startup enterprise each year from among three startup projects incubated per academic year.

Fourth component: Support service units.
Our strategic partners include Startup Project Company, Vietnam Institute of Entrepreneurship Training, and Startup with Students Company, which provide services related to taxation, accounting, business registration procedures, patent registration, intellectual property, and related matters.

Fifth component: Large enterprises and startup capital.
We have established connections with the National Startup Program, the Vietnam Innovation Startup Advisory Council, the National Startup Advisory and Support Council – Southern Region, and the Dong Nai Young Entrepreneurs Association to seek funding sources and other support for startup project development.

Sixth component: Startup policies.
The University leadership has permitted exceptional graduation consideration for students participating in startup projects who win prizes at various levels. In addition, the University supports funding for prototype development and market research for startup projects participating in competitions at different levels. Financial support is also provided for travel, accommodation, and living expenses throughout the competition process for startup teams.

Through these activities, the entrepreneurship program of Lac Hong University has achieved initial successes, including winning nine startup awards at various levels (National, Ministerial, Regional, and Provincial levels) and establishing five enterprises originating from startup projects. To achieve greater outcomes, we aim to soon establish a Local Innovation Startup Advisory Network in Dong Nai Province to further support the University in mentoring startup projects.