BUYO Bioplastics wins First Prize

On November 24 in Ho Chi Minh City, the final round of the National Innovation and Startup Talent Search Competition TECHFEST Vietnam 2023 took place with 10 competing teams.

Officially launched on May 23 and closed for applications on September 22, the Competition received more than 500 applications from provinces and cities across the country, nominations from more than 18 technology villages and provincial startup competitions. In the final round, from 10 competing teams, the jury selected the 3 best teams.

As a result, the First Prize of the Competition was awarded to the BUYO Bioplastics team. This is a company that provides 100% natural and biodegradable bioplastics from organic waste, with exclusive patented technology. The product is completely biodegradable in the natural environment and is safe for health, has superiority and reduces carbon emissions. In addition to the support from the competition, BUYO Bioplastics will represent Vietnam to participate in international competitions in Korea, the United States, Australia, Singapore, Europe, etc.

Second prize went to AIRX CARBON team with a solution to promote a circular economy by using agricultural, industrial and forestry waste to create bioplastics; Third prize went to CENERGY team - a unit that researches, develops and manufactures energy storage systems based on flow battery technology in Vietnam, aiming to solve the energy storage infrastructure in Vietnam.

At the program, 5 teams that match the development vision of the Korean market were selected to receive the 2023 Vietnam Techfest Shinhan Global Track Award global startup acceleration package organized by Shinhan Square Bridge Incheon in 2024 worth 60,000 USD including: AirxCarbon, BUYO Bioplastics, Beekids, Toothless (Diaflow), Trainizi.

Mr. Tran Van Tung, Standing Member of the Executive Board of Project 844, former Deputy Minister of Science and Technology , said that the Ministry of Science and Technology and the Executive Board of Project 844 are committed to continuing to support and create conditions for Vietnamese ideas and innovative start-up groups to continue to develop and accompany the country's economy; creating conditions for innovative and creative ideas to have the opportunity to shine in domestic and foreign markets. Hopefully, innovative solutions and initiatives will participate in solving the problems of State management agencies, corporations and general companies for green and sustainable development and to fulfill Vietnam's commitment to the world of Net-Zero by 2050.

Sharing the commitment to promote innovation and business development, Mr. Sun Sukkun, Project Director of Shinhan Square Bridge, Shinhan Financial Group Hope Foundation, hopes to spread the spirit of innovation, develop the potential of startups as well as promote cooperation between the innovation startup ecosystem in Vietnam and Korea. This is not only a competition but also a place to nurture endless creativity, where passion and innovation intersect.

The annual national innovation and startup talent search competition is a gathering place for experts, investors, startup support units, technology corporations, etc. to join hands to build a foundation for a new generation of businesses. The winning teams receive prizes with a total value of more than 18 billion VND in cash and in kind, including benefits for market development, product promotion, communication, support for workspace, exhibition display and training./.

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