Contest offers US$1 million for green startup ideas

Wednesday, 2019-01-23 17:24:21
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The PoC competition aims to contribute to the richness and the ability to connect for Vietnam's startup ecosystem, with a total prize value of up to US$1 million. (Photo: VNA)
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NDO – Organisations and individuals with excellent ideas to help Vietnam cope with climate change challenges will have the opportunity to fully access incubation services, the commercialisation of technology and business development, with a maximum funding of US$75,000 per project.

The information was given at the launch of the third Proof-of Concept (PoC) competition under the theme "Women and the future of green economy", which was launched in Ho Chi Minh City on January 23 by the Vietnam Climate Innovation Centre (VCIC), in coordination with HCM City Hi-tech Park and the Vietnam Women's Union.

The PoC competition aims to contribute to the richness and the linkage ability of Vietnam's startup ecosystem, with a total prize value of up to US$1 million, in which, each winning project can receive grants of up to US$75,000 for the development, deployment or expansion of their products or services.

Meanwhile, they will be given priority to access all of VCIC's comprehensive consulting and business development services, such as training, mentoring and connecting with start-up support networks, experts, partners and facilities, as well as access to investment.

The third PoC contest covers ideas and suggestions for a product, service or business model for energy efficiency, sustainable agriculture, information technology in the field of climate change, renewable energy technology, water filtering and water management, and climate-related fields and technologies.

According to Michael Braun, a VCIC specialist, the ideas sent to the contest must meet the requirements of innovation in technology or business models that can create products and services that would assist the response and adaptation to the challenges of climate change, while promoting women's participation and leadership in innovation in response to climate change. They should also have the potential for replication and to spread their effects on a large scale.