Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1of 2

Start-up is defined as a “a temporary organization designed to search for a repeatable

and scalable business model” (Steve Blank, 2019). In fact, this trend has drawn
attention of the public because entrepreneurship is indeed a hot trend and also can
bring extremely high profit margins unless successful, including the capacity to
stimulate the economy and to build a steeping stone for the creation of a nation. As a
result, Vietnam's start-up ecosystem has grown impressively in quantity and quality in
recent years. According to a report called "Vietnam's Creative Entrepreneurship
2019" by the Australian Government Trade and Investment Agency (Austrade),
Austrade commented that Vietnam had grown "galloping" in the number of start-ups.
If Vietnam had around 400 startups in 2012, it would have increased more than 4
times in 2015, reaching 1,800 startups; with the current number of about 3,000
startups, it has risen dramatically in the two years 2017-2018.

Many entrepreneurs would like to set up a business since they are wanting new
experience as well as financial independence. Among numerous founders from
different age groups, there is a large segment held by university students, especially in
international program like ISB students of Banking Academy, who are the most likely
to accept and get access to new approaches and ideas as well as challenge yourself to
new things while having the capital to start your own business, both in large and small
scale. However, very little is known about just how and in which fields of startups are
speeding up.

There has been a lot of research on start-up trends in the intervening decades.
However, the results achieved are mostly able to reflect one part of the subject. The
previous study pointed to the importance of perceived market risk as a predictor of
starting up versus abandoning start-up efforts (Gelderen, Thurik and Bosma, 2005).
Another study is the detection of indicators for entrepreneurial success through
emotional analysis by using textual data mining. This research has shown that start-up
tools, technology-based start-ups, the Founder 's attitude, and the development of
start-up methodology are the topics with positive feelings for identifying key factors
for start-up business success (Saura, Palos-Sanchez and Grilo, 2020). In addition,
there is research on the importance of entrepreneurship in job creation and job
destruction (Kane, 2020).

Despite the promising results, these studies still have some limitations because they
have yet to find a motivating factor affecting their intention to start a business, the
field they want to start and the amount of money. is required for business by college
students, especially those in ITP where I am currently studying. Therefore, this study
is conducted to answer the three following questions: “ What are the motivating
factors that affect the student's intention to start a business? ”; “ Which field do they
intend to start their own business? ” and “ How much money do they need to start up?
” Furthermore, this research also provides suggestions for ISB students to equip
themselves with the knowledge and competencies they need to start a business.

You might also like