Vietnam Innovation Challenge receives over 750 solutions
Technology experts and businessmen have so far submitted 758 initiatives to the Vietnam Innovation Challenge, which seeks innovative solutions from domestic and international organizations and individuals to tackle key national challenges on its path toward prosperity and sustainable development.
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Of the solutions, 60 per cent came from startups and the remainder from technological groups and small- and medium-sized enterprises (SMEs).
Those who submitted are located not only in Vietnam but also in many foreign nations such as Singapore, the Republic of Korea, Hong Kong (China), and the Philippines.
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| Apart from prizes totaling 300,000 USD, winning solutions will be implemented in Vietnamese localities. (Photo: NIC) |
Their submissions focus on the four key areas of enhancing the management capacity of SMEs through digital transformation; applying digital transformation to support SME participation in global value chains; strengthening the linkage between SMEs and FDI and large firms via digital platforms; and enhancing effective dialogue between the Government and businesses through these platforms.
The annual program is steered by the Ministry of Planning and Investment (MPI) and organized by the National Innovation Center (NIC) and Meta Corporation.
Apart from prizes totaling 300,000 USD, winning solutions will be implemented in Vietnamese localities. Their inventors will receive assistance from NIC, Meta, and other partners, including Goldsun Media, Up Co-working Space, Amazon Web Services, Google, and Viettel, to improve capacity, research and develop products, and advertising solutions.
The program is the first to realize the MPI’s InnovateVN initiative, in which NIC works with domestic and foreign tech firms and partners to promote innovation-based economic growth with new business models, products, and processes.
This initiative aims to assist the development of 500 pioneering innovation businesses by 2030 and help improve the public sector innovation capacity.
(Source: VNA)
