For the first time, the contest was opened to foreign startups with the desire to promote and attract international startups.
Vietnam Startup Wheel 2019 was launched in Thailand and strongly communicated in some other countries such as Korea, Singapore, Japan, etc. The organizers will select more than 50 international startup projects to attend the later rounds. The purpose of opening the contest to international contestants is for contestants to have more opportunities to exchange and learn internationally.
“Startups are not only looking for prizes but also opportunities for individuals and founders to have the opportunity to interact with the creative ideas and models from other countries. ” said Truong Ly Hoang Phi, one of the consultants for Vietnam Startup Wheel.
While Thailand is a country emerging with start-up activities with many similarities to Vietnam, South Korea has top investment capital in Vietnam and is quite successful in encouraging creative start-ups.
In addition to these two markets, international startups interested in Vietnamese and regional markets can participate in the competition as well. In 2018, Vietnam Startup Day also attracted the participation of 23 international startups.
Vietnam Startup Wheel 2019 will be the competition of 2 national and international exam tables that attract the participation of startups from Korea, Thailand, Singapore, Hong Kong, Japan, Malaysia, Australia, etc… The prize value is over VND 2 billion (international version; around 86 thousand USD), the first prize is VND 150 million, the first prize is VND 150 million for individuals.
In addition, typical projects will be introduced and supported directly to join the selection round Shark Tank Vietnam 2020.
Vietnam Startup Wheel 2019 Start-up Contest is organized by the Youth Start-up Center (BSSC) in collaboration with Ho Chi Minh City Young Entrepreneurs Association (YBA). It is expected that this year the competition will attract 1,000 projects to participate in the competition. After 6 years of organization, the contest has more than 10,000 contestants with 3,500 participating projects and over 50 billion VND invested during and after the competition.