The second Net Zero Challenge competition for startups offers billions of Vietnamese dong in prizes.

On July 16th, the second Net Zero Challenge competition kicked off, with organizers calling on entrepreneurs in the climate change technology sector from around the world to participate.

The second Net Zero Challenge competition kicked off with a watering activity for plants.

The Net Zero Challenge is a platform for finding technological solutions to combat climate change, with the goal of piloting them in Vietnam. The competition is organized on a global scale, aiming to support startups in bridging the funding gap, expanding access to investment funds, strategic partners, and climate change alliances.

Following the success of 2023, this year's competition aims to establish an open innovation platform for green startups, enabling stakeholders in the climate change mitigation technology sector to effectively support and collaborate. This platform will also connect corporations with green technologies, supporting founders in raising additional green capital to help early-stage climate technologies in Vietnam rapidly scale up.

This year's competition will continue to focus on three main areas: Renewable Energy and Carbon Neutrality, Sustainable Food Systems and Agriculture, and Circular Economy and Waste Management. Applications will be accepted from July 16th to September 15th, 2024. The organizing committee will select the nine best teams to participate in the final round at the end of November 2024.

According to the rules, teams need to develop a Minimal Viable Product (MVP) with the potential for successful scaling or commercialization and be ready for pilot implementation in Vietnam. Teams can be startups, research teams, corporate projects, or non-profit organizations ready for a large-scale pilot project. Solutions already commercialized abroad but wishing to be piloted in Vietnam are also eligible to participate.

The Net Zero Challenge is organized by Touchstone Partners investment fund and Temasek Foundation (a non-profit organization from Singapore), in collaboration with the Ho Chi Minh City Institute for Development Studies (HIDS). Participating teams have the opportunity to win a total prize pool of VND 15 billion. In addition, competing teams can also receive an investment of US$100,000 (equivalent to VND 2.5 billion) from Sopoong Ventures and Touchstone Partners, and non-equity bonuses from the German International Cooperation Organization (GIZ).

BA TAN

Source: https://www.sggp.org.vn/cuoc-thi-thach-thuc-net-zero-lan-thu-ii-danh-cho-startup-voi-gia-tri-giai-thuong-hang-ty-dong-post749560.html