FINANCIAL RESOURCES FOR INNOVATIVE STARTUPS – STUDIES IN EMERGING ECONOMIES AND TRENDS FOR STUDIES IN VIETNAM

Abstract

Previous studies point to a fact: to achieve sustainable growth, it is necessary to invest in startups in the field of innovation, creativity, and financial resources are the first issue of concern. The financial resources for startups may be: (i) institutional capital: bank loans (banks, MFIs), venture capitals; (ii) non-institutional capital: angel investors, accelerators, crowdfunding. Bank loans are still the main channel for raising startups; however, it takes work for them to access these capital flows. Developed and developing economies have invested in new financial technology and loan markets, which are working. Venture capital generally tends to startups in the field of technology and innovation. Many developed and developing economies have also formed Angel investments, accelerator programs, or investment groups. The article summarizes some typical studies in developing economies with similarities to Vietnam to serve as lessons learned for research and policy-making related to financial resources for startups in Vietnam in the coming time. Keywords: Financial Resources; Entrepreneurship; Creativity.