Analysis of obstacles and solutions to promote innovative startups: an empirical study in the Southern region of Vietnam

Abstract

This study investigates key barriers hindering the development of innovative startups in southern Vietnam. Using a quantitative research design, data were collected from 182 founders and co-founders of startups operating for at least twelve months. The research integrates the Innovation Barriers Theory and the Resource- Based View (RBV) to examine fi ve major categories of obstacles. An online questionnaire with a fi ve-point Likert scale and 23 observed variables was employed. Multiple regression analysis shows that the model accounts for 57.4% of the variance in startup development. Legal and policy barriers have the strongest infl uence, followed by business environment barriers and technological and innovation constraints, while fi nancial barriers have the weakest impact. The fi ndings highlight the need to improve the legal framework, strengthen the startup ecosystem, and enhance technological capabilities to support sustainable startup growth in Vietnam.