Vietnam’s rapid economic growth over the past two decades has been driven mainly by the exploitation of natural resources and a manufacturing industry reliant on a low-skill labor force. The challenge now is for the economy to become more engaged with higher value-adding forms of production. This transition will require the creation of entrepreneurship and innovation ecosystems, sustained by intellectual and entrepreneurial talent. Ideally these ecosystems will draw on the talent pool embodied in and created by universities. To date, however, few universities in Vietnam have been active in seeding these ecosystems. In this chapter, we report on a recent initiative aimed at mobilizing the establishment of entrepreneurship and innovation ecosystems at a selected group of universities in Vietnam. Based upon insights to emerge from the initiative, lessons learned for the future development of the higher education sector in Vietnam are identified and shared.