The program is sponsored by the Korea International Cooperation Agency (KOICA). Co-organized by Impact Square, Nextrans, and Merry Year International Korea. The deadline for submitting applications is June 30, 2023.
According to the Organizing Committee, the 2023 program focuses on business activities related to “Environment” including waste reduction, renewable energy, recycling/circulation, resources, environmental pollution measurement and response, fine dust filtration/air cleaning. Activities on “Digital Transformation” including the use of mobile applications, online transactions/education /platforms, 5G, VR/AR, digital healthcare, financial technology, smart farms... are also encouraged.
Mr. Cho Han-Deog, Country Director of KOICA Vietnam emphasized: “This is a meaningful activity to find social entrepreneurs who will contribute to creating a better world through innovative ideas and approaches”.
“In terms of impact investing, we will select social projects with social and economic value to support their continued growth based on a solid partnership system and trust with our partners,” said Mr. Cho Han-Deog.
Interested startups can register to participate on the program's official website. Based on the application, the organizing committee will screen and select the 20 best applications to invite for interviews and idea presentations on August 17, 2023 in Ho Chi Minh City.
Evaluation criteria include: Social value or social impact of the proposed solution, innovation of the business model, feasibility and potential for business expansion, and attractiveness to investors... Participating businesses must have Vietnamese representatives and be operating their main business in Vietnam.
The competition’s first-place winner will receive a $40,000 prize. In addition, the creative startups will have the opportunity to receive additional prizes and investments of up to $400,000 from international investors, participate in an accelerator/impact measurement program, and have the opportunity to collaborate with large organizations.
In 2022, The Impact Challenge at SEA was held in Vietnam and Cambodia. In Vietnam alone, more than 100 businesses participated. In addition to awarding prizes to the winning teams of the competition, Impact Square invested in "bTaskee" - one of the prominent startups in Vietnam.
"bTaskee" is a Vietnamese on-demand housekeeping service platform that focuses on supporting low-income earners and working conditions in the household cleaning industry. The company does this by providing cleaners with flexible working hours, reasonable wages, systematic training, and thus ensuring high quality of service./.
Source
Comment (0)