Honouring innovative climate ideas of Vietnamese start-ups

The awards ceremony recognised the efforts of the first seven enterprises in graduating from a year-long incubation period, alongside 17 winners of the second Proof-of-Concept Competition (POC2).

VCIC, a World Bank project supported by the Australian and British governments, provides financing, mentorship and advisory services to local clean-tech entrepreneurs.

Managed by the Ministry of Science and Technology (MOST), the VCIC supports local entrepreneurs in their attempts to develop innovative technologies and business models in a range of climate technology related areas.

In winning the POC2, the 21 entrepreneurs will receive incubation services and financial support from the VCIC, while the 7 graduates from POC1, which have considerably strengthened their businesses as the results of the VCIC’s support, will now be in the best position to access new markets.

MOST Minister Chu Ngoc Anh said that he expects that these enterprises will have positive impacts on the economy, environment, and society.

For his part, Ousmane Dione, Country Director for the World Bank in Vietnam, said that the winners and graduates that were honoured today are in the best position to find innovative solutions to climate challenges within communities, whilst playing a key role in contributing to the local economy and creating jobs.

Representing the two project sponsors, Layton Pike, the deputy head of the Australian Embassy in Vietnam and British Ambassador to Vietnam Giles Lever also underlined the VCIC’s important work in championing climate-related innovation.

Following the awards ceremony, the VCIC will hold a training programme from 21-23 September to increase the knowledge and skills of both groups of enterprises, focusing on business plans, market research, marketing and technology descriptions.