Financing innovative startups through state-owned financial institutions: International experience and implications for Vietnam

Innovative startups are increasingly recognized as a key driver of economic growth, yet they continue to face significant constraints in accessing capital. This study examines international experiences in developing financing mechanisms for innovative startups in several countries and regions, including the United States, South Korea, Singapore, China, and the European Union. Through comparative analysis, the study identifies core features of effective credit and financial support systems that facilitate startup growth and innovation. The findings provide a comprehensive analytical foundation for understanding how institutional design, policy coordination, and financial instruments can improve capital access for innovative enterprises, thereby informing the development of a more coherent and effective credit system aligned with Vietnam’s national strategy for fostering an innovative startup ecosystem.