TECHFEST VIETNAM 2020 - Officially launched the Innovative Technopreneur Contest

TECHFEST VIETNAM 2020 - Officially launched the Innovative Technopreneur Contest

The Innovative Technopreneur Contest 2020 in the framework of TECHFEST 2020 brings the opportunity to connect financial resources, partners, as well as develops the market and shares knowledge assets for founders. Legal status in Vietnam is a must for all participants. You will be presented to pitch directly to more than 50 national and international investors or investment funds, as well as facilitated to expand relations with more than 100 professionals, tutors and advisors in different fields. The winners will become the representative of Vietnam to participate in Startup World Cup 2021 competition with a prize of one million USD. Top 3 of the competition will have cash prizes and support packages lasting three months. Top 10 competitions will be selected for special investment commitments up to 500 million VND. The program is supported by dedicated and reputable organizations in the fields of investment, technology and innovation, including K-Group Vietnam, SunShine Holding, VMED Group, VinaCapital Ventures and others.

On October 8, 2020, the Ministry of Science and Technology, in collaboration with the Vietnam Science and Technology Enterprise Start-up Fund (SVF) and Startup World Cup, officially launched the Innovative Technopreneur Contest 2020. This is a competition to find and support local and international Vietnamese innovative startups. The contest focuses mainly on promoting innovative spirit, applying science and technology to develop your business, as well as creating opportunities to exchange and connect with investors, organizing supportive, linking resources, accessing policies and support programs for startups.

The contest is the determination of the Ministry of Science and Technology to promote the quality of national innovative startups to the international technology playground. This is considered an opportunity to promote the image of a dynamic Vietnamese startup ecosystem, welcome cooperation and development of science and technology, and promote innovation from partners around the world.

Following the success of the TECHFEST 2019 Contest with more than 400 contest teams, more than 50 local and international investors and investment funds, the National Business Innovation and Startup TECHFEST 2020 Contest now brings some noteworthy differences. Specifically, the contestants are Vietnamese individuals or Vietnamese people living and working in and outside the territory of Vietnam, regardless of gender, age, occupation. The products, services, or technology are innovative, have been registered a business license and have a sample product. 

The contest is judged by two exam tables:

  • Tech-driven: For businesses that provide technology products or services to customers and markets, including entirely new technology products and services, or using new technologies to achieve rapid growth and expansion.
  • Innovative business model: For enterprises with innovative elements in business models or products/services…
  • Along with the preparation of the organizers, TECHFEST 2020 wants to receive the participation and coordination of units that are implementing events and competitions on innovative startups nationwide to select the most representative businesses to introduce to the international community. The coordination among the units will also show the determination to create a unified innovative startup ecosystem, for the common goal towards a favorable environment for entrepreneurs and businesses.

“The most special thing about TECHFEST is that we have the opportunity to meet and connect with many influential people of the Vietnam Entrepreneurial Ecosystem", said Ms. Cassie Nguyen - Co-founder & COO Abivin - Winner of TECHFEST 2018, Champion of Startup World Cup 2018.

Sharing about this year's competition, Ms. Mandy Nguyen - Head of the Contest Organizing Committee, SVF Ecosystem Development Director said: “Vietnamese startup entrepreneurs need more than a competition, it is a playground which can connect in depth, nurture entrepreneurship while enhancing capacity through appropriate training and resource connection activities. Therefore, for this year's competition, we especially focused on training activities, connecting startups with experts and advisors in many fields, along with demo pitching to make them have opportunities to call capital directly to local and international investors/funds. In particular, there are many sub-awards set up at this year's competition to promote innovation in specific fields such as Health, Finance, Import-Export, Sustainable Economy...”

During 3 months, from September to November, the series of communication programs, direct interaction, application consultation will take place on online platforms organized by local and international startup communities, technology communities, associations, and support communities. The qualifying round takes place from October 8 to November 8, 2020 in the form of submitting businesses’ online project documents on the official website. We will select 60 teams (30 teams each) to enter the training round. The semi-finals will take place on November 24, 2020 in Ho Chi Minh City and the final will be on November 29, 2020 in Hanoi. 

The winner will be the representative of Vietnam to attend the Startup World Cup 2021.

Potential startups encourage to register for the contest via the official TECHFEST 2020 homepage here:

https://techfest.vn/hoat-dong/tham-gia-cuoc-thi

PHOTOS OF TECHFEST CONTEST: https://bit.ly/33EztQJ

Prize structure

  • Cash and gifts prize for winning teams from sponsors, investors, and program partners.
  • The top 10 teams that have reached the final will be sponsored to participate in the Online Acceleration Program within 3 months.
  • The winner will become the representative of Vietnam to participate in the Startup World Cup 2021 competition.

About TECHFEST

The National Innovation Start-up Festival (TECHFEST VIETNAM) is the largest annual event, mobilizing the participation of a large number of organizations, individuals, and reputable connection networks for creative startup communities in Vietnam. TECHFEST includes a series of events to connect and bring together ecosystem resources to support innovative startups. It is held annually from the local, regional, national and international stage. The event with the participation of the Government leaders and the innovation startup communities is an opportunity to summarize the development of the startup ecosystem in the past as well as the orientation for the coming period. TECHFEST has the participation of more than 500 local and international investors/investment funds with nearly 700 connections with a total committed investment value of nearly 20 million USD. Among them, Abivin - the winner of TECHFEST 2018, was introduced to attend and won at the world playground - Startup World Cup. The follow-up of the TECHFEST 2020 Innovation Technopreneur Contest, once again affirms its position and role in promoting innovative thinking for businesses in the modern era.

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Any questions please contact:

Mr. Pham The Hung - Organizing Committee of TECHFEST 2020 Competition

Mobile Phone: 0886460560

Email Address: Hung.pt@svf.org.vn hoặc Cuocthi@techfest.vn

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