Are intellectual property rights allowed to be used to contribute capital to innovative startup investment funds?

Reply: On July 21, 2025, the Government issued Decree No. 210/2025/ND-CP amending and supplementing a number of articles of Decree No. 38/2018/ND-CP detailing investment for innovative start-up small and medium enterprises, effective from September 15, 2025.

According to Clause 2, Article 1 of Decree No. 210/2025/ND-CP amending Article 5 of Decree No. 38/2018/ND-CP on innovative startup investment funds, specifically as follows:

Innovative Startup Investment Fund:

1. The creative startup investment fund has no legal status, with from 02 to a maximum of 30 investors contributing capital to establish on the basis of the fund's Charter. The creative startup investment fund is not allowed to contribute capital to other creative startup investment funds.

2. Contributed capital can be in Vietnamese Dong, land use rights, intellectual property rights, technology, technical know-how and other assets that can be valued in Vietnamese Dong.

3. List of investment activities of the innovative startup investment fund:

a) Investing in innovative start-up small and medium enterprises. Total investment shall not exceed 50% of the enterprise's charter capital after receiving investment;

b) Investing in convertible investment instruments;

c) Investing in the right to purchase shares in innovative start-up small and medium enterprises. This transaction cannot be transferred to third parties.

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According to the above amended regulations, 06 types of assets contributed to the creative startup investment fund from September 15, 2025 include:

(1) Vietnamese Dong

(2) Land use rights

(3) Intellectual property rights

(4) Technology

(5) Technical know-how

(6) Other assets that can be valued in Vietnamese Dong.

Thus, previously (Article 5 of Decree 38/2018/ND-CP) only stipulated: "Assets contributed as capital can be in Vietnamese Dong, gold, land use rights value and other assets that can be valued in Vietnamese Dong". With the new regulation in Decree 210/2025/ND-CP, intellectual property rights (in addition to technology and technical know-how) have been added to the list of assets allowed to be contributed as capital. This is an important new point, opening up opportunities for innovative startups to use inventions, trademarks, software, industrial designs, etc. as assets contributed as capital to the innovative startup investment fund.