Vietnam teams to compete for US$ 50,000 in global start-up competition
Wednesday, 2018-01-10 04:08:59
NDO – Three teams from Vietnam, namely Elight Education, VioT Connected Luminaires and VDEs, will compete for US$50,000 cash prize in the final round of the VietChallenge 2018, the first global entrepreneurship competition for Vietnamese.
The three teams stood out from the other contestants after three hours of competition at the Vietnam National Round on January 9 in Hanoi.
They received a stipend of US$2,000 each in order to develop their demo products before the final round, which will take place at the Massachusetts Institute of Technology in Massachusetts, the US, on April 7, 2018.
Hosted by the Association of Vietnamese Students and Professionals in the United States of America, in partnership with the Hanoi Youth Union, Hanoi Student Association and Up-Coworking Space, VietChallenge 2018 aims to empower Vietnamese entrepreneurs to gravitate their innovative business ideas and early tractions towards scalable and high-growth start-ups.
The competition is only open to teams. Each team must have at least two members aged 18 years or above, and at least one member must be a Vietnamese citizen or of Vietnamese descent.
Since it was first launched in September 2017, the competition has received 201 applications from 17 countries all over the world, focussing on business ideas in the fields of technology, agriculture, healthcare and clean energy.
The winner of VietChallenge 2018 will be awarded a cash prize of US$25,000 and the first runner up will receive US$5,000. There are also four third prizes of $2,000 each to be given out.