NextTech invests VND10 billion in a start-up

Sunday, Dec 11, 2022 15:02

The motorcycle steering neck bearings are displayed at the signing ceremony on Friday in HCM City. — Photo courtesy of the company

Viet Nam’s NextTech Group on Friday announced an investment of VND10 billion (US$415,000) to assist in the mass production and commercialisation of 63-year-old engineer Nguyen Vinh Son's inventions, a commitment made in the fifth season of Shark Tank Vietnam, the reality show for start-ups on VTV3 broadcast every Sunday.

The new investment will be spent on manufacturing the so-called upside-down motorcycle steering neck bearing, which aims to minimise the impact of vibration when driving and increase the durability of the neck bearing by three to five times.

In the near future, many other useful products invented by Son will be financed and commercialise by the NextTech group, such as stab-resistant body amor and an automatic smart plant pot.

In the fifth season of Shark Tank Vietnam, engineer Nguyen Vinh Son made a strong impression on investors and TV viewers with the image of an elderly person full of enthusiasm who has made useful inventions for daily life and always has a dream of making changes to let the world know about Vietnamese know-how.

The upside-down motorcycle steering neck bearing has been patented by Vietnam and by the World Intellectual Property Organisation (WIPO). Before being shown at the reality show, this product was installed in more than 100,000 motorcycles in the last 10 years. — VNS

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