Policies for the Commercialization of University Research: International Experiences and Implications for Vietnam

Abstract

In the context where innovation has become a key driver of knowledge-based growth, the commercialization of university research is not limited to technology transfer in a narrow sense but covers the exploitation of intellectual property and research-based knowledge through licensing, assignment, spin-off creation, university-industry collaboration, joint ventures, technology services, and internal exploitation. This article analyzes policies promoting the commercialization of research outcomes at universities through a comparative examination of the United States, the United Kingdom, South Korea, and Singapore. Drawing on the Triple Helix model and the innovation ecosystem approach, the study develops an integrated analytical framework that links policy instruments, intermediary organizations, commercialization channels, and institutional contexts. The findings suggest that commercialization performance depends not on a single policy instrument, but on the alignment among intellectual property rules, intermediary capabilities, financial mechanisms, researcher incentives, academic culture, market demand, and the maturity of technology markets. Based on these findings, the article proposes policy implications for Vietnam, especially in relation to legal coherence, national commercialization data systems, professionalization of intermediary organizations, proof-of-concept financing, academic incentive reform, and the development of a more transparent technology market.