Bioplastic startup solves Vietnam's green development challenge.

The National Science and Technology Enterprise Market Development Agency (NATEC, Ministry of Science and Technology ), in collaboration with the State Committee for Overseas Vietnamese (Ministry of Foreign Affairs), the Vietnam Science and Technology Enterprise Startup Fund (SVF), the Office of Project 844, and the National Innovation Startup Support Center (NSSC), recently organized the Final Round of the Techfest Vietnam 2023 National Innovation Startup Talent Search Competition.

In response to the theme "Leveraging national resources - Elevating Vietnam's innovation and startup ecosystem for international integration," the competition provided opportunities for startup founders to connect with financial resources, partners, develop markets, and share knowledge.

Throughout the competition, we are supported by over 150 experts, partners, investment funds, experienced Technology Advisors from various industries and fields, more than 34 Techfest Vietnam 2023 Technology Villages, and many other partners.

After four months of launching, the competition received more than 500 applications from provinces and cities nationwide, as well as nominations from 18 technology villages and provincial-level startup competitions.

The winning teams will receive prizes totaling over 18 billion VND in cash and in kind, including benefits related to market development, product promotion, media coverage, workspace support, exhibition opportunities, and training.

Deputy Minister of Science and Technology Hoang Minh presented the first prize (champion) to the BUYO Bioplastics team.

At the end of the selection process, the first prize of the competition was awarded to BUYO Bioplastics. This is a startup specializing in 100% natural-based bioplastics with proprietary, patented technology.

The product is completely biodegradable in the natural environment and safe for health, possessing superior properties and minimizing carbon emissions.

In addition to support from the competition, BUYO Bioplastics will represent Vietnam in international competitions in South Korea, the United States, Australia, Singapore, Europe, and other countries.

In addition, the runner-up prize of the competition went to the AIRX CARBON team for their solution promoting the circular economy by using agricultural, industrial, and forestry waste to create bioplastic pellets.

CENERGY, a company researching, developing, and manufacturing energy storage systems based on flow-through battery technology in Vietnam, aiming to address Vietnam's energy storage infrastructure needs, won third place overall.

BUYO Bioplastics nhua sinh hoc.jpeg — BUYO Bioplastics' plates, spoons, and forks are made from biodegradable plastic.

Also at the program, 5 teams that aligned with the development vision of the Korean market were selected to receive the 2023 Vietnam TechFest Shinhan Global Track Award, a global startup acceleration package organized by Shinhan Square Bridge Incheon, in 2024.

Accordingly, this $60,000 funding package has been awarded to the teams AirxCarbon, BUYO Bioplastics, Beekids, Toothless (Diaflow), and Trainizi.

According to the general assessment of experts and investment funds, the solutions participating in the competition showed diversity in their development stages, addressing specific problems in many fields such as education, entertainment, environmental protection, clean energy, waste reduction, etc.

Mr. Tran Van Tung, a permanent member of the Steering Committee for Project 844 and former Deputy Minister of Science and Technology, stated: The Ministry of Science and Technology and the Steering Committee for Project 844 are committed to continuing to support and create favorable conditions for Vietnamese ideas to continue developing and contributing to the country's economy.

The Ministry of Science and Technology will also create conditions for innovative ideas to shine in domestic and international markets, promoting international integration.

"I hope these innovative solutions and initiatives will contribute to solving the problems of state management agencies, corporations, and general companies, to green and sustainable development, and to fulfilling Vietnam's commitment to the world of Net-Zero by 2050," said Mr. Tran Van Tung.

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