(MPI) - The National Innovation Centre (NIC), under the Ministry of Planning and Investment (MPI) in collaboration with VietChallenge organized VietChallenge 2022 in New York on December 2, aiming to enhance innovation capacity and connect investors for Vietnamese-born startups worldwide.

MPI Deputy Minister Tran Duy Dong. Photo: MPI

Speaking at VietChallenge final round, MPI Deputy Minister Tran Duy Dong said, VietChallenge 2022 aims to look for potential Vietnamese-born startups worldwide with spillover effects to develop a group of pioneering innovation businesses, making contribution to restructuring the economy of Vietnam and renewing its growth model, towards the rapid and sustainable development area.

Six excellent startups, naming bHub (Phenikaa MaaS), Cargoha, CyberPurify, FoodMap, GeneStory and Wareflex Vietnam won tickets to the contest’s final round, which was held at Nasdaq, the second biggest stock exchange on the globe. GeneStory, launched in May with the participation of leading scientists from many developing countries such as the US, the Netherlands and Germany, aiming to care for the public health through genetic decoding for Vietnamese, surpassed other competitors to win for the first prize.

VietChallenge 2022 is not only an “intellectual playground” but also a place to support innovative businesses in accessing the global economy and connecting with angel investors and venture capitalists, thus implementing business ideas and solving challenges of the Fourth Industrial Revolution and the pandemic. The contest also contributes to realising the passion and enthusiasm of young Vietnamese businesses who wish to enhance their innovation capacity, mark achievements and affirm Vietnam’s position and role in the international arena.

On this occasion, Deputy Minister Dong also met a number of leading US financial institutions and investment funds such as Bank of America, BlackRock - a multi-national investment company and some financial and investment experts to connect those of the two countries, promote innovation start-up ecosystem in Vietnam as well as strengthen bilateral economic and trade cooperation.

The deputy minister said that, Vietnam’s FDI attraction orientation put priorities on innovation and high-tech application such as semiconductor technology, biotechnology, environmental technology, instead of attracting large-scale investment. He also stressed, NIC will be a focal point in supporting and connecting businesses of the two countries to realise mentioned goals./.

Bao Linh

Ministry of Planning and Investment