The contest's judges include top CEOs and founders of StartUp
The contest was honored by the Cambodian Deputy Minister of Information and Communications as a judge along with the top CEOs and founders of StartUp such as Mr. Michael McCarthy, lecturer of Harvard Extension, Mr. Gene Soo – co-founder of StartupsHK, Shark Nguyen Manh Dung – CEO of Cyber Agent Fund in Vietnam and Thailand … The final round includes 10 best teams, selected from over 200 entries of the Startups come from many countries around the world. Vietnam is the country with the most selected products with 5 projects in the fields of Telecommunications, Education, IoT, and E-commerce (including Graam, VVN, Appa, Vuihoc, MultiGlass). The remaining products of teams come from many other countries: Agrobot, TiMobile, Ipfication, Innova Solutions, and LaundryKH.
After 4 hours of intense work, the judges selected the 3 best product teams to award, namely VVN (Vietnam) team – Provide customized Artificial Intelligence solutions to enable automated business processes, take customers to the forefront of competition by cutting costs and improving the customer experience of winning the First Prize; TiMobile (Indonesia) with Automatic solution to replace the receiver’s ringtone with a specific video set by the caller to win the second prize and Graam team (Vietnam) – providing businesses with a solution based contact center Cloud battery cover without paying upfront costs won the Third Prize.
Mr. Cao Anh Son, General Director of Viettel Telecom – Head of the Organizing Committee of the contest awarded the prize for the first prize winner VVN (Vietnam)
In addition to the cash prize of VND 170 million, these 3 winning teams will be funded 100% by Viettel to the US to join the VietChallenge finals – the Startup competition for the global Vietnamese in the US with the award up to more than 1 billion.
Mr. Phung Van Cuong, Metfone General Director awarded the prize to the second prize winner TiMobile (Indonesia)
In the process of participating in the finals in Cambodia and the US, teams also received a 1-1 mentoring program from the world’s top CEOs and founders of StartUp professors at Harvard, MIT and Boston Universities; leading experts in Silicon Valley; attend the presentation skills training week; visit Boston entrepreneurship ecosystem; Approaching and working with reputable investors in the US to call for investment …
Ms. Nguyen Ha Thanh, Head of Communication Department of Viettel Military Industry-Telecommunications Corporation awarded the Third Prize to Graam team (Vietnam)
It is known that besides selecting 10 teams to participate in the final round in Cambodia, Viettel has now negotiated to sign a business cooperation contract with more than 20 products, potential ideas to participate in the contest, with benefits. exclusive benefits of revenue sharing from 45-75% this year when included in the business system in Vietnam and 10 countries where the group is investing and doing business.
Topica Founder Institute’s annual investment report for 2018, shows that, in 2018, Vietnamese start-up companies received $ 889 million in investment in 92 deals from the Funds. domestic and foreign investment (3 times higher than in 2017 and 6 times in 2016). Vietnam’s entrepreneurial ecosystem in recent years has been highly appreciated by international investors. The number of fast-growing enterprises (400 start-ups in 2012 and 2017-2018 increased to 3,000).
However, according to other statistics, up to 80% of StartUp Vietnam failed in the first year and that number reached 92% in the next 3 years, no matter how good startup ideas are. StartUp experts have also pointed out, lack of capital, lack of practical experience is one of the main reasons leading to this situation.
Mr. Cao Anh Son, General Director of Viettel Telecommunications Corporation, Head of Organizing Committee at Viettel Advanced Solution Track 2019 Contest Finals
Mr. Cao Anh Son, General Director of Viettel Telecommunications Corporation (Military Telecommunications Industry Group), Head of the Organizing Committee of the contest, is the leading enterprise in the field of Telecommunications in Vietnam today, But when starting, Viettel also encountered numerous difficulties and challenges like other young StartUp. Understanding that, when it is successful with its stature and outstanding strengths and prestige in the international market, Viettel wants to join in the rhythm and support domestic StartUp to develop and realize the dream of reaching out. Global. “Viettel Advanced Solution Track 2019 is the actual action of Viettel to create a fair playing field for domestic and international StartUp and at the same time express the commitment to accompany, invest and create development opportunities for the community. co-founder, “said Cao Anh Son.
** In addition to the cash prize, 3 winning teams will receive 100% of funding from Viettel to the US to join the VietChallenge finals – a startup competition for global Vietnamese in the US with prizes of more than 1 billion VND .
Source : Trí Thức Trẻ