BUYO Bioplastics, AIRX CARBON, and CENERGY become the three winners of the National Innovative Startup Competition 2023 at Techfest Vietnam 2023 held in Ho Chi Minh City on November 24.
The three were among the 10 best teams who joined the competition in the final round at Techfest Vietnam 2023.
The champion was BUYO Bioplastics. This business provides 100 per cent natural and biodegradable plastics made from organic waste, with exclusive patented technology. The product is completely decomposable in the natural environment, is safe for health, and minimises carbon emissions.
|Deputy Minister of Science and Technology Hoang Minh giving the Champion award to the BUYO Bioplastics team
BUYO Bioplastics will represent Vietnam as it participates internationally in South Korea, the US, Australia, Singapore, and Europe.
The first runner-up was AIRX CARBON for its solution that promotes a circular economy by using agricultural, industrial, and forestry waste to create bioplastics.
|AIRX CARBON team wins the first runner-up award
The second runner-up was CENERGY, which researches, develops, and produces energy storage systems based on flow battery technology in Vietnam, aiming to solve the challenges of energy storage infrastructure in the country.
|The CENERGY team wins the second runner-up award
Also at the event, five teams that are consistent with the development vision of the South Korean market were selected to receive the 2023 Vietnam Techfest Shinhan Global Track Award organised by Shinhan Square Bridge Incheon in 2024 worth $60,000.
Addressing the event, former Deputy Minister of Science and Technology Tran Van Tung said that the ministry and the Executive Board of Project 844 are committed to continuing to help Vietnamese ideas and innovative startups to develop at home and broad, thus contributing to the economic development of the country.
"I hope that innovative companies and individuals will participate in solving the problems faced by state management agencies, corporations, and businesses to promote green and sustainable development, contributing to Vietnam’s efforts to achieve its net-zero commitments by 2050," Tung added.
Running from May 23 to September 9, the contest received more than 500 applications from provinces and cities across the country, and many nominations. The competition acts as a filter and a connection between domestic startup and innovation competitions and the oversea Vietnamese community.
The competition is organised by Vietnam’s National Agency for Technology Entrepreneurship and Commercialisation Development, the Vietnamese Foreign Affairs Ministry's State Committee for Overseas Vietnamese, the Startup Vietnam Foundation, the Project 844 Office, the National Creative Startup Support Centre, and other stakeholders.
It aims to promote innovative solutions from startups, experts, intellectuals, domestic entrepreneurs, and overseas Vietnamese, thereby igniting creative thinking, promoting the innovative startup ecosystem, and contributing to the growth of Vietnam's economy.
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