This house, as the Vietnamese government, would shift innovation policies towards large-scale and targeted public research programs rather than focusing on tax incentives for startups and venture capitals
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Innovation policies are government measures designed to encourage new ideas, technologies, and business models, including but not limited to funding for research, grants, regulation changes, public procurement, tax breaks, and support for startups or universities. Large-scale public research programs are big and long-term projects funded and often coordinated by the state, universities, or public agencies. They usually focus on mission-driven goals like clean energy, vaccines, space, infrastructure, or AI safety. Tax incentives are tax reductions or exemptions meant to encourage investment in new businesses. Venture capital (VC) is money invested in early-stage companies that are high-risk but may grow very quickly, VC firms usually provide funding in exchange for equity, meaning they own part of the company.