Illustrative image (Photo: Business Startup Support Centre) HCM City (VNS/VNA) -The annual Startup Wheel contest was launched in Vietnam and other countries bythe Business Startup Support Centre.
The contest is open to bothlocal and international start-ups of all ages.
The deadline for submittingentries is April 25 while the final round and awards ceremony will be held inAugust.
In addition to prizes worth atotal of 10 billion USD (422,000 USD) in cash and support services such asco-working space and legal advice, start-ups will also have the chance to getloans at low interest rates from the Start-up Fund of up to 600 million VND (25,300USD).
Start-up founders have thechance of attending intensive training courses in running start-up businessesand having their projects publicised in the media.
According to the organisers,they will introduce promising projects to angel investors, venture capitalfunds and other investors.
According to the BSSC, morethan 90 percent of start-up projects fail after three years due to failure tomeet market demand and lack of suitable co-founders or advisors and humanresources.
The 2020 Startup Wheel isexpected to be the ideal “laboratory" for start-ups to fix those problems,it said.
The Startup Day, the last stageof the Startup Wheel, is expected to attract more than 15,000 entrepreneurs andinvestors.
Start-up entrepreneurs have theopportunity to directly approach potential customers to test their products orservices and get feedback from them before commercialising their products andservices.
Launched in 2013 in HCM City,the contest has so far attracted over 5,000 contestants./.
The contest is open to bothlocal and international start-ups of all ages.
The deadline for submittingentries is April 25 while the final round and awards ceremony will be held inAugust.
In addition to prizes worth atotal of 10 billion USD (422,000 USD) in cash and support services such asco-working space and legal advice, start-ups will also have the chance to getloans at low interest rates from the Start-up Fund of up to 600 million VND (25,300USD).
Start-up founders have thechance of attending intensive training courses in running start-up businessesand having their projects publicised in the media.
According to the organisers,they will introduce promising projects to angel investors, venture capitalfunds and other investors.
According to the BSSC, morethan 90 percent of start-up projects fail after three years due to failure tomeet market demand and lack of suitable co-founders or advisors and humanresources.
The 2020 Startup Wheel isexpected to be the ideal “laboratory" for start-ups to fix those problems,it said.
The Startup Day, the last stageof the Startup Wheel, is expected to attract more than 15,000 entrepreneurs andinvestors.
Start-up entrepreneurs have theopportunity to directly approach potential customers to test their products orservices and get feedback from them before commercialising their products andservices.
Launched in 2013 in HCM City,the contest has so far attracted over 5,000 contestants./.
VNA
