--- Page 1 --- Research Proposal to the United Nations on Investigating Investor Perceptions and Opportunities for Startup Growth in Vietnam to Support SDG 17 in 2022-2024 1. Background Information The United Nations (UN) is a global organization that was formed in 1945 and has 193 member states (United Nations n.d. ). It focuses on the world issues such as peace, security, human rights and development. This research concerns the 17th SDG of the UN, which is to strengthen the means of implementation and revitalize the global partnership for sustainable development (United Nations 2023). The target audience are investors who invest in startups in Vietnam, but it also focuses on governmental agencies, non-governmental organizations, international financial organizations, and the private sector, especially those organizations that contribute to the development of the economy. The study will focus on the context of Vietnam to examine the state of startup investments and how improving these connections may help the development of sustainability in the area. 2. The Opportunity A promising area for the UN''''s campaign to promote the 17th SDG is to harness the rapidly growing startup culture in Vietnam. Vietnam has emerged as a startup hub, with 3,472 startups by 2023 (Barnes 2023). The country has also shown immense improvement in the FDI, which attracted $36.61 billion in 2023, a 32.1% increase year-on-year (JDI Group 2023). This robust investment climate and a rapidly expanding digital economy make Vietnam attractive for investors. According to Yeo (2024), Ho Chi Minh City is among the first 100 emerging ecosystems in the world, which shows entrepreneurship is active in the city. Although the total investment in 2023 decreased, Vietnam attracted $529 million of investment, showing the confidence of investors (VietnamPlus 2024). In the same period from 2013 to 2021, the manufacturing sector received $1.013 billion, while the retail sector received $902 million (Barnes 2023). Vietnam also has four unicorns: VNG, MoMo, VNLife and Sky Mavis (Yeo 2024). The healthcare industry received a 391% rise in investment in 2023, and education received a 107% boost (VietnamPlus 2024). 3. Target Audience Characteristics This study is aimed at the investors who provide capital for startup companies in Vietnam. These investors are mainly from Singapore and some from the United States and other Asian countries (Viet Nam News 2024). Their investment choices are focused on sectors such as healthcare, education, fintech, and retail technology that have expanded in the last few years (Ngoc Mai 2024). Investors in Vietnam’s startup ecosystem have been active, with notable investments such as $1.4 billion in 2021 and $529 million in 2023 (Nguyen 2023). The size of the investment has varied widely, with some larger rounds of funding going above $50 million (Nguyen 2023). In this region, investors are motivated by technological advancement and the sectors that offer growth and high returns. This shows the general business environment and opportunities available in the Vietnamese startup ecosystem (Viet Nam News 2024). 4. Research Rationale The investment environment is the first important factor that needs to be examined. To support the UN''''s campaign for SDG 17, it is imperative to understand the investment environment in Vietnam. According to Nguyen et al. (2021), the process of innovation startup has become one of the significant components of the Vietnamese nation''''s economic development strategy, which is viewed and developed by the government to create a conducive environment for the formation and growth of startup entities. However, the authors conclude that Vietnam is on the list of countries that joined the global startup movement, but innovative startups in Vietnam are still in their early stages, although there is a huge opportunity to grow (Nguyen et al. 2021). Dash (2010), therefore, analyzed investment behaviour through various factors that affect it and concluded that the most critical determinants of an investor''''s ability to assume risk are age and gender. This implies that while elderly persons are more conservative in their investment decisions, the youths are more aggressive in their pursuits to earn more profits. Moreover, a study in Ghana revealed that the population had a good understanding of some of the SDGs but lacked adequate knowledge of other goals, which affected their attainment (Odoom et al. 2024). Also, there is the issue of the public''''s participation and perception of sustainable development as a goal and concept. Studies have also confirmed that public participation is very critical in policy and sustainable development of programs (Marzuki, 2015). hybrid governance models have been identified as having a significant probability of being used in the SDG achievement processes by the UN (Nonet et al. 2022). Therefore, it is important to acknowledge that such collaboration models in Vietnam can enhance the utilization of different sectors'''' strengths in the effectiveness of development strategies. For example, the relations between startup businesses and the government can lead to the creation of new methods that address sustainability challenges within the target city. In summary, this study will fill knowledge gaps by highlighting ways to enhance startup investment in Vietnam to achieve SDG 17. Specifically, the findings of the research will aid the UN in identifying channels of communication through which promising partnerships and development can be achieved. The findings produced in this study will help the UN solve the communication challenge by improving the stakeholders'''' interests and objectives with those of SDG 17 so that integrated and sustainable growth may be attained in Vietnam''''s implementation of sustainable development interventions. 5. Research Scope Conceptual Definitions Investment Climate: The overall condition of the economy that affects the investment opportunities and feasibility in a particular area. The investment climate, therefore, entails the economic environment, legal systems, political environment, and market opportunities (Nguyen et al., 2021; World Bank Group 2016). Sustainable Development: A process that enables improving the quality of human life and satisfying human needs on the condition that future generations will be able to meet their needs (Troyer et al. 1991). Operational Definitions --- Page 2 --- Investor Perceptions: Captured by social listening with the investors’ perception of the economic, regulatory, and political environments that affect their investment choices in Vietnam (Dash, 2010). Public Participation: Measured by the extent of community engagement in sustainability initiatives, such as attendance at public forums, participation in surveys, and involvement in local projects (Fritz et al. 2019). Startup Growth Metrics: Includes the number of new startups established, the survival rate of startups over five years, and the total funding raised by startups (Kemell et al. 2020). Research Questions How does the current investment climate in Vietnam influence investor perceptions and decision-making in funding startups in supporting SDG 17? Research Objectives To identify the critical determinants of investor decision-making in the Vietnamese startup ecosystem that support SDG 17 initiatives, using content analysis of communication by relevant stakeholders from 2022 to 2024. In conclusion, this research proposal presents the plan for improving the startup investment environment in Vietnam, SDG 17. In this regard, the study seeks to contribute to creating a favourable investment climate, stakeholders'''' awareness, and public participation to enhance successful collaboration and sustainable growth. They will also help achieve sustainable development in Vietnam, improve the country''''s economic standing, and foster good relations with the international community. Reference Barnes M (3 February 2023) ‘Investing in Vietnamese Startups: Quick Guide 2023’, Vietnam Briefing News, accessed 19 July 2024. https://www.vietnam-briefing.com/news/vietnams-startup-ecosystem.html/ Dash MK (2010) ‘Factors Influencing Investment Decision of Generations in India:An Econometric Study’, International Journal of Business Management and Economic Research, 1(1):15–26. Fritz S, See L, Carlson T, Haklay M, Oliver JL, Fraisl D, Mondardini R, Brocklehurst M, Shanley LA, Schade S, Wehn U, Abrate T, Anstee J, Arnold S, Billot M, Campbell J, Espey J, Gold M, Hager G and He S (2019) ‘Citizen science and the United Nations Sustainable Development Goals’, Nature Sustainability, 2(10):922–930, doi:10.1038/s41893-019-0390-3. JDI Group (27 October 2023) ‘Vietnam startup ecosystem in 2024’, JDI Group, accessed 19 July 2024. https://jdi.group/vietnam-startup-ecosystem-why-you-should-be-excited-2/#:~:text=Vietnam%20Startup%20Ecosystem%20%E2%80%93%20FinTech Kemell K-K, Wang X, Nguyen-Duc A, Grendus J, Tuunanen T and Abrahamsson P (2020) ‘Startup Metrics That Tech Entrepreneurs Need to Know’, in A Nguyen-Duc, J Münch, R Prikladnicki, X Wang, and P Abrahamsson (eds) Fundamentals of Software Startups, Springer, doi:10.1007/978-3-030-35983-6_7. Marzuki A (2015) ‘Challenges in the Public Participation and the Decision Making Process’, Sociologija i prostor, 53:21–39, doi:10.5673/sip.53.1.2. Ngoc Mai (29 April 2024) ‘Over US$4.6 billion poured into Vietnamese startups in past decade’, Hanoi Times, accessed 20 July 2024. https://hanoitimes.vn/over-us46-billion-poured-into-vietnamese-startups-in-past-decade-326733.html#:~:text=Over%20US%244.6%20billion%20poured%20into%20Vietnamese%20startups%20in%20past%20decade&text=Technological%20innovation%20has%20become%20an,Vietnamese%20startups%20through%20835%20deals Nguyen MN (2023) Startup investments in Vietnam - statistics & facts, Statista, accessed 20 July 2024. https://www.statista.com/topics/10160/startup-investments-in-vietnam/ Nguyen QC, Tran TH, Nguyen QK and Kwon H (2021) ‘Current Status and Solutions for Promoting Innovative Startup in Vietnam’, International Journal of Advanced Smart Convergence , 10(3):97–104. Nonet GA-H, Gössling T, Van Tulder R and Bryson JM (2022) ‘Multi-stakeholder Engagement for the Sustainable Development Goals: Introduction to the Special Issue’, Journal of Business Ethics, 180(4):945–957, doi:10.1007/s10551-022-05192-0.
Trang 1Research Proposal to the United Nations on Investigating Investor Perceptions and Opportunities for Startup Growth in Vietnam to Support SDG 17 in 2022-2024
Trang 2Table of Contents
1 Background Information 3
2 The Opportunity 3
3 Target Audience Characteristics 3
4 Research Rationale 4
5 Research Scope 5
Conceptual Definitions 5
Operational Definitions 5
Research Questions 6
Research Objectives 6
Reference 7
Trang 31 Background Information
The United Nations (UN) is a global organization that was formed in 1945 and has 193 member states (United Nations n.d ) It focuses on the world issues such as peace, security, human rights and development This research concerns the 17th SDG of the UN, which is to strengthen the means of implementation and revitalize the global partnership for sustainable development
(United Nations 2023) The target audience are investors who invest in startups in Vietnam,
but it also focuses on governmental agencies, non-governmental organizations, international financial organizations, and the private sector, especially those organizations that contribute to
the development of the economy The study will focus on the context of Vietnam to examine the state of startup investments and how improving these connections may help the development
of sustainability in the area
2 The Opportunity
A promising area for the UN's campaign to promote the 17th SDG is to harness the rapidly growing startup culture in Vietnam Vietnam has emerged as a startup hub, with 3,472 startups
by 2023 (Barnes 2023) The country has also shown immense improvement in the FDI, which attracted $36.61 billion in 2023, a 32.1% increase year-on-year (JDI Group 2023) This robust investment climate and a rapidly expanding digital economy make Vietnam attractive for investors According to Yeo (2024), Ho Chi Minh City is among the first 100 emerging ecosystems in the world, which shows entrepreneurship is active in the city Although the total investment in 2023 decreased, Vietnam attracted $529 million of investment, showing the confidence of investors (VietnamPlus 2024) In the same period from 2013 to 2021, the manufacturing sector received $1.013 billion, while the retail sector received $902 million (Barnes 2023) Vietnam also has four unicorns: VNG, MoMo, VNLife and Sky Mavis (Yeo 2024) The healthcare industry received a 391% rise in investment in 2023, and education received a 107% boost (VietnamPlus 2024)
3 Target Audience Characteristics
This study is aimed at the investors who provide capital for startup companies in Vietnam These investors are mainly from Singapore and some from the United States and other Asian countries
Trang 4(Viet Nam News 2024) Their investment choices are focused on sectors such as healthcare, education, fintech, and retail technology that have expanded in the last few years (Ngoc Mai 2024) Investors in Vietnam’s startup ecosystem have been active, with notable investments such
as $1.4 billion in 2021 and $529 million in 2023 (Nguyen 2023) The size of the investment has varied widely, with some larger rounds of funding going above $50 million (Nguyen 2023) In this region, investors are motivated by technological advancement and the sectors that offer growth and high returns This shows the general business environment and opportunities available in the Vietnamese startup ecosystem (Viet Nam News 2024)
4 Research Rationale
The investment environment is the first important factor that needs to be examined To support the UN's campaign for SDG 17, it is imperative to understand the investment environment in Vietnam According to Nguyen et al (2021), the process of innovation startup has become one of the significant components of the Vietnamese nation's economic development strategy, which is viewed and developed by the government to create a conducive environment for the formation and growth of startup entities However, the authors conclude that Vietnam is on the list of countries that joined the global startup movement, but innovative startups in Vietnam are still in their early stages, although there is a huge opportunity to grow (Nguyen et al 2021)
Dash (2010), therefore, analyzed investment behaviour through various factors that affect it and concluded that the most critical determinants of an investor's ability to assume risk are age and gender This implies that while elderly persons are more conservative in their investment decisions, the youths are more aggressive in their pursuits to earn more profits Moreover, a study in Ghana revealed that the population had a good understanding of some of the SDGs but lacked adequate knowledge of other goals, which affected their attainment (Odoom et al 2024) Also, there is the issue of the public's participation and perception of sustainable development as
a goal and concept Studies have also confirmed that public participation is very critical in policy and sustainable development of programs (Marzuki, 2015) hybrid governance models have been identified as having a significant probability of being used in the SDG achievement processes by the UN (Nonet et al 2022)
Trang 5Therefore, it is important to acknowledge that such collaboration models in Vietnam can enhance the utilization of different sectors' strengths in the effectiveness of development strategies For example, the relations between startup businesses and the government can lead to the creation of new methods that address sustainability challenges within the target city
In summary, this study will fill knowledge gaps by highlighting ways to enhance startup investment in Vietnam to achieve SDG 17 Specifically, the findings of the research will aid the
UN in identifying channels of communication through which promising partnerships and development can be achieved The findings produced in this study will help the UN solve the communication challenge by improving the stakeholders' interests and objectives with those of SDG 17 so that integrated and sustainable growth may be attained in Vietnam's implementation
of sustainable development interventions
5 Research Scope
Conceptual Definitions
Investment Climate: The overall condition of the economy that affects the investment
opportunities and feasibility in a particular area The investment climate, therefore, entails the economic environment, legal systems, political environment, and market opportunities (Nguyen et al., 2021; World Bank Group 2016)
Sustainable Development: A process that enables improving the quality of human life
and satisfying human needs on the condition that future generations will be able to meet their needs (Troyer et al 1991)
Operational Definitions
Investor Perceptions: Captured by social listening with the investors’ perception of the
economic, regulatory, and political environments that affect their investment choices in Vietnam (Dash, 2010)
Public Participation: Measured by the extent of community engagement in
sustainability initiatives, such as attendance at public forums, participation in surveys, and involvement in local projects (Fritz et al 2019)
Trang 6 Startup Growth Metrics: Includes the number of new startups established, the survival
rate of startups over five years, and the total funding raised by startups (Kemell et al 2020)
Research Questions
How does the current investment climate in Vietnam influence investor perceptions and decision-making in funding startups in supporting SDG 17?
Research Objectives
To identify the critical determinants of investor decision-making in the Vietnamese startup ecosystem that support SDG 17 initiatives, using content analysis of communication by relevant stakeholders from 2022 to 2024
In conclusion, this research proposal presents the plan for improving the startup investment environment in Vietnam, SDG 17 In this regard, the study seeks to contribute to creating a favourable investment climate, stakeholders' awareness, and public participation to enhance successful collaboration and sustainable growth They will also help achieve sustainable development in Vietnam, improve the country's economic standing, and foster good relations with the international community
Trang 7Barnes M (3 February 2023) ‘Investing in Vietnamese Startups: Quick Guide 2023’, Vietnam Briefing News, accessed 19 July 2024
https://www.vietnam-briefing.com/news/vietnams-startup-ecosystem.html/
Dash MK (2010) ‘Factors Influencing Investment Decision of Generations in India:An
Econometric Study’, International Journal of Business Management and Economic Research,
1(1):15–26
Fritz S, See L, Carlson T, Haklay M, Oliver JL, Fraisl D, Mondardini R, Brocklehurst M, Shanley LA, Schade S, Wehn U, Abrate T, Anstee J, Arnold S, Billot M, Campbell J, Espey J, Gold M, Hager G and He S (2019) ‘Citizen science and the United Nations Sustainable
Development Goals’, Nature Sustainability, 2(10):922–930, doi:10.1038/s41893-019-0390-3 JDI Group (27 October 2023) ‘Vietnam startup ecosystem in 2024’, JDI Group, accessed 19 July
2024 https://jdi.group/vietnam-startup-ecosystem-why-you-should-be-excited-2/
#:~:text=Vietnam%20Startup%20Ecosystem%20%E2%80%93%20FinTech
Kemell K-K, Wang X, Nguyen-Duc A, Grendus J, Tuunanen T and Abrahamsson P (2020)
‘Startup Metrics That Tech Entrepreneurs Need to Know’, in A Nguyen-Duc, J Münch, R
Prikladnicki, X Wang, and P Abrahamsson (eds) Fundamentals of Software Startups, Springer,
doi:10.1007/978-3-030-35983-6_7
Marzuki A (2015) ‘Challenges in the Public Participation and the Decision Making Process’,
Sociologija i prostor, 53:21–39, doi:10.5673/sip.53.1.2.
Ngoc Mai (29 April 2024) ‘Over US$4.6 billion poured into Vietnamese startups in past decade’,
Hanoi Times, accessed 20 July 2024 https://hanoitimes.vn/over-us46-billion-poured-into-vietnamese-startups-in-past-decade-326733.html#:~:text=Over%20US%244.6%20billion
%20poured%20into%20Vietnamese%20startups%20in%20past%20decade&text=Technological
%20innovation%20has%20become%20an,Vietnamese%20startups%20through
%20835%20deals
Trang 8Nguyen MN (2023) Startup investments in Vietnam - statistics & facts, Statista, accessed 20 July
2024 https://www.statista.com/topics/10160/startup-investments-in-vietnam/
Nguyen QC, Tran TH, Nguyen QK and Kwon H (2021) ‘Current Status and Solutions for
Promoting Innovative Startup in Vietnam’, International Journal of Advanced Smart Convergence , 10(3):97–104.
Nonet GA-H, Gössling T, Van Tulder R and Bryson JM (2022) ‘Multi-stakeholder Engagement
for the Sustainable Development Goals: Introduction to the Special Issue’, Journal of Business Ethics, 180(4):945–957, doi:10.1007/s10551-022-05192-0.
Odoom D, Mensah EO, Dick-Sagoe C, Lee KY, Opoku E and Obeng-Baah J (2024) ‘Examining the level of public awareness on the Sustainable Development Goals in Africa: An empirical
evidence from Ghana’, Environment, Development and Sustainability, 26:6221–6238,
doi:10.1007/s10668-023-02959-x
Troyer W, Pacific C and Round N (1991) Preserving our world : a consumer’s guide to the Brundtland report, National Round Table On The Environment And The Economy, Ottawa United Nations (2023) Goal 17: Revitalize the global partnership for sustainable development,
United Nations Sustainable Development, accessed 19 July 2024 https://www.un.org/sustainabledevelopment/globalpartnerships/#:~:text=Goal%2017%20is
%20about%20revitalizing
United Nations (n.d.) About Us, United Nations, accessed 19 July 2024.
https://www.un.org/en/about-us
Viet Nam News (27 April 2024) ‘Investment in Vietnamese startups in 2023 ranks third in Southeast Asia’, Viet Nam News, accessed 20 July 2024.
https://vietnamnews.vn/economy/1654697/investment-in-vietnamese-startups-in-2023-ranks-third-in-southeast-asia.html#:~:text=In%202023%2C%20nearly%20100%20funds
VietnamPlus (27 April 2024) ‘Vietnam ranks third in Southeast Asia in startup investment
attraction’, VietnamPlus, accessed 19 July 2024
Trang 9%20nearly%20100%20funds
World Bank Group (2016) The Investment Climate, International Finance Corporation (World
https://www.un.org/esa/ffd/wp-content/uploads/2016/01/The-Investment-Climate_IFC-World-Bank-Group_IATF-Issue-Brief.pdf
Yeo S (2 March 2024) ‘A look at Vietnam’s pho-bulous startup scene’, Techinasia, accessed 19
July 2024 https://www.techinasia.com/vietnams-phobulous-startup-scene