The Role of Social Capital in Entrepreneurial Success: Insights from Vietnam’s Startup Ecosystem

This research examines the role of social capital in entrepreneurial success within Vietnam’s startup ecosystem, addressing a gap in previous research, which has largely focused on Western contexts and overlooked the socio-cultural dynamics unique to Vietnam. The study aims to explore how Vietnamese entrepreneurs define and perceive social capital, its role in accessing resources, funding, and partnerships, and the challenges and limitations they face in leveraging it. A qualitative methodology was employed, incorporating semi-structured interviews with 20–25 entrepreneurs, focus group discussions with entrepreneurs, investors, and mentors, and document analysis of business materials. The findings reveal that social capital, rooted in trust, reciprocity, and cultural norms such as collectivism and familial ties, plays a critical role in overcoming institutional weaknesses and securing essential resources. However, challenges such as exclusivity in networks, the time needed to build trust, and the obligations of reciprocity limit its utility. The results are significant because they highlight the dual nature of social capital as both a key driver of entrepreneurial success and a potential constraint. These insights can guide policymakers and ecosystem enablers in fostering more inclusive, diverse, and balanced networks to support entrepreneurial growth in Vietnam’s evolving economy.