University–Industry–Government Collaboration in Fostering Innovation: Policy Solutions to Strengthen Triple Helix Partnerships in Ho Chi Minh City in The Digital Era

In the context of the knowledge economy and the Fourth Industrial Revolution, the Triple Helix model—linking universities, industry, and government—is recognized as an effective framework for promoting innovation, enhancing competitiveness, and fostering sustainable development. This paper analyzes the implementation of the Triple Helix model in global innovation hubs such as Kendall Square (USA), Fraunhofer (Germany), Yozma (Israel), one-north (Singapore), Catapult (UK), Brainport Eindhoven (Netherlands), and Shenzhen (China). Based on qualitative analysis, the study evaluates the current state of Triple Helix collaboration in Ho Chi Minh City (HCMC) and identifies its strengths and limitations. Findings indicate that although HCMC possesses strong infrastructure, human resources, and an emerging startup ecosystem, challenges remain in governance, financing mechanisms, intellectual property frameworks, and sustained collaboration. The study proposes four policy pillars for 2025–2030: (1) establishing a central orchestrator for coordination, (2) reforming financial mechanisms and policy support, (3) developing innovation infrastructure and shared spaces, and (4) improving legal frameworks, KPIs, and international linkages. Academically, the paper extends Triple Helix theory to the context of an emerging metropolitan economy; practically, it offers concrete policy recommendations for HCMC to become a leading innovation hub in Southeast Asia.