The story of “research completed but left aside” is nothing new. Technologies remain in laboratories, while businesses struggle to find solutions. Both sides have needs, but they rarely meet. This gap has long been described as the “valley of death.”

It is precisely here that the idea of Innovation Centers (ICs) becomes relevant—as a potential answer to a very specific problem.

Bridging Technology and the Market

The issue is not a lack of technology, but rather the absence of a capable intermediary to connect and make things happen. Businesses want innovation but don’t know which technologies fit, where to test them, or how to manage risks. Scientists have research results but lack clarity on market demand or who the first users might be. Services such as technology valuation, brokerage, intellectual property, testing, standards, and legal support exist—but they are fragmented and disconnected.

Such a fragmented ecosystem of science, technology, and innovation is difficult to operate smoothly. What’s missing is a central hub to connect, organize, test, and even share risks with stakeholders.

That is why Innovation Centers are seen as a form of intermediary infrastructure to bring technology closer to the market.

Globally, many countries addressed this challenge early on. They did not expect research institutes to sell technology themselves, nor did they leave businesses to figure it out alone. Models such as Germany’s Fraunhofer Institutes, Taiwan’s Industrial Technology Research Institute (ITRI), and the UK’s Catapult network all focus on helping technology “take one more step”—from the lab to the market. They test, prototype, reduce risks, connect businesses, and even support the most difficult phases. In short, they do what individual players cannot do alone.

Vietnam has begun developing similar models, such as the National Innovation Center (NIC), Hanoi Innovation Center, and Ho Chi Minh City’s Startup and Innovation Hub (SIHUB). Other local initiatives include Cần Thơ’s CASIC and Đà Nẵng’s Startup Support Center. However, the system as a whole is still taking shape and lacks the strength to pull the entire ecosystem forward.

Turning Knowledge into Economic Value

Innovation Centers act as intermediaries across the innovation value chain—from market demand to product development, business models, and technology commercialization.

Their core functions include:

• Connecting stakeholders: Linking universities, research institutes, businesses, investors, and regulators. Matching technology supply with market demand, ideas with resources, and problems with solutions.
• Supporting product development: Helping refine technologies, conduct trials, secure intellectual property, build business models, and attract investment—essentially guiding technologies across the “valley of death.”
• Providing professional services: Offering valuation, brokerage, IP legal support, testing, standards, and training in technology and innovation management. These “back-end” services often determine whether a technology succeeds or stalls.

In essence, Innovation Centers do not replace businesses or scientists, but they help them move faster, more securely, and with less risk. Their work follows the transformation chain: Science → Technology → Product → Production → Market. In Vietnam, the most difficult stage is moving from technology to product, which is precisely where Innovation Centers focus.

A truly effective Innovation Center does not start with technology—it starts with a problem. That problem may come from a ministry, a local authority, or a large enterprise with real, sizable needs. Once the problem is clear, technology scouting, team building, and testing can begin.

One crucial factor here is the role of the “First Buyer.” This first adopter must present a concrete problem, with sufficient scale and genuine demand. Without someone willing to try a new product, ideas risk stalling at the concept stage. Innovation Centers often play the role of connector, persuader, and organizer to create that initial market. Achieving this is already half the journey.

More Than Just Another Institution

Ultimately, the story of Innovation Centers is not about adding another organization. It is about reorganizing the process of bringing technology to market. Done well, they become the “extended arm” of regulators in solving major challenges, while serving as the go-to place for businesses seeking real innovation.

In today’s context of rapid digital and green transitions, and mounting competitive pressures, having strong institutions to support the critical step from technology to product is no longer optional. Without Innovation Centers, technology risks remaining on paper—and that is something we can no longer afford.