In Vietnam more than 90% of medical equipment is imported in spite of the government initiatives in entrepreneurship for self-sufficiency. Most of the population lives in the countryside, where the healthcare is precarious. In academia, we developed a series of medical devices and an Internet of Things (IoT) system for telemedicine. This system, along with a specific device to monitor a patient’s blood pressure and heart rate, was selected by a provincial government to develop into a commercially viable product. In spite of the good technical and clinical results, it couldn’t be put on the market due to governmental red tape. We then developed a wearable product in collaboration with a private company and established an IoT model that links patients, physicians, engineers, and businesspeople. A series of commercially viable products was manufactured. Technical aspects were assumed by engineers. Legal and financial aspects were assumed by businessmen. As a result, the permission for product mass production and sale in the Vietnamese market was approved by the government. Clinical investigations were assumed by medical people. Since this is a new product, engineers train the users and immediately fix encountered problems. These efforts enhance the confidence of the users. Our proposed entrepreneurial model seems appropriate. To overcome country hurdles such as lack of small local supplying industries, ill-organized supply chains, and bureaucracy, universities must create an Entrepreneurship oasis allowing Entrepreneurship sandbox initiatives. One of the Key Performance Indicators is to bring academic products into the market.