By Business Team Last updated on August 13, 2019

Viettonkin Startup Launch 2019, a launch for the Vietnamese Startup Idea

Viettokin Startup 2019

I. INTRODUCTION

Viettonkin Startup Launch 2019 (a Vietnamese startup idea) is the first startup competition initiated and organized by Viettonkin JSC within the chain of activities aiming at the incorporation 10th anniversary, together with Viettonkin Startup Ecosystem together with the companions and coordinators. Viettelkin Startup Ecosystem (VSE) ‘s mission is to develop the organizational capacity and build SMEs / Startups community with supporting organizations but not limited to government agencies, businesses, investment funds, consulting companies, and service providers. Hence, we could set up a strong business community in Vietnam.

Startup owners encounter common obstacles such as capital source, market research, marketing plan, management capacity, talent attractability, financial management skills, etc. Thanks to the strengths of a multidisciplinary and multi-sector consulting entity within 10 years of experience, Viettonkin would like to contribute to establishing a stronger community of Startup in Vietnam through by opting enormously potential startup owners and providing resources for them to handle the above obstacles and overcome the turbulent startup at the beginning time.

By the selection of 5 startups whose an innovative business model and a solid foundation engaging in certain fields such as services, IT (IoT, AI, blockchain, etc.), tourism, hospitality, and manufacturing, especially the Startup projects that tend to invest in Southeast Asian countries. Startups would have an opportunity to train from domestic and foreign business owners, consultants in different fields and immerse in the creative, enthusiastic, and dynamic environment.

Moreover, the contest is considered as the most effective brand promoting channel among startups and investors, domestic and foreign investment funds, press and media agencies, startups with other creative and outstanding business models. Selected 5 startups will be awarded at the Gala Night and the 10th year anniversary of Viettonkin JSC.

II. PROJECT SCALE 

  • All provinces and cities across the country, especially in Hanoi and Ho Chi Minh City
  • Southeast Asian countries such as Singapore, Indonesia, Thailand and Malaysia

III. ELIGIBLE CANDIDATES 

  • Age: prioritizing Startup business owners between 25-40 years old
  • Startups which are in the pre-seed and seed stage
  • Potential startups from startup contests
  • Individuals and teams which hold innovative and dramatic ideas with high feasible and practical applications.
  • Prioritizing projects in services, IT (IoT, AI, blockchain), tourism, hospitality, and manufacturing.

IV. EVALUATION CRITERIA

– Innovation and creativeness in products/services, production processes, and business models

– Business potential, return on investment (ROI), and high profitability

– Feasibility of the strategy to launch products/services to the market

– Working  capacity of the team

– Feasibility of production-business expansion

– A reasonable level of financial forecast and investment capital calling plan

V. DEADLINE TIME

Time to submit documents: June 10th, 2019 – July 10th, 2019

Round of pitching: July 10th, 2019 – July 20th, 2019

Round of due diligence: July 20th, 2019 – July 31st, 2019

VI. STRUCTURE OF ROUNDS

Vietnamese startup idea

VII. PRIZES

All startups teams will compete for the final winning prize of up to $55,000, including:
– $10,000-40,000 to finance for the startup project
– $15,000 worth of tokens as startup consulting services and programs during the first 2 years of startups project
– Opportunity to become a successful applicant of the startup visa program for both financing and immigration purposes in Canada offered by Viettonkin Immigration.
– Become an official leading member and an active contributor of Viettonkin Startups Ecosystem (VSE)

VIII. SPECIFIC PROCESS

  • Stage 1: Awareness (Expected 9 / 2019-10 / 2019)

Within 1 month, VSE will gather a group of the same ideas. The founders will learn how to live, work and fight with founding shareholders, partners, team members, and others. This is a time for startups to learn more, be supported to join in the Entrepreneurship Development program in Malaysia.

  • Stage 2: Exploring (Expected 10 / 2019-11 / 11)

After setting the core issues including vision and mission, this is the stage for the founders to explore real business opportunities in the market via activities of connecting, experiencing business communities in domestic and international scale.

  • Stage 3: Commitment (expected 11 / 2019-12 / 2020)

The first two months are planned to challenge the ideas from the founders by focusing on core goals and market demands. VSE will unify the business goals, develop strategies, HR, internal and external sources towards the official stage of launching products into the market.

  • Stage 4: Validation and Refinement (expected 1/2020 – 3/2021)

This is a very important stage, Startups will be supported by VSE’s domestic and foreign experts to identify brand value, implement marketing strategies, and improve products/services simultaneously in order to obtain loyal customers within a temporary time.

  • Stage 5: Scaling (expected from March 2021 onwards)

At the end of the 2-year period of seeding, Startups will aim at the stage of expanding the scale to new markets, creating investment traction and increasing capital. With extensive experience in investing in overseas markets, Viettonkin JSC and VSE will continue to accompany the founders and equip Start-up with knowledge and skills to be ready to expand and conquer the big sea and aim at being a unicorn Startup of Vietnam.

All information of the program will be regularly posted on Fanpage:

https://www.facebook.com/Viettonkin-Startup-Ecosystem/

If you have any questions, you can call our hotline number +84 3846 8780 or send us an email via [email protected].

Viettonkin Startup Launch 2019 is a Vietnamese startup idea hopes to create a meaningful playground and open up development opportunities, to contribute to promoting and encouraging the starting-up and creative business activities of Vietnam nature, bringing great value to our community and society.