HCM City students win GBA Business Challenge 2023

Friday, Nov 10, 2023 13:43

Students from Hồ Chí Minh City University of Technology (HUT) are honored as the champions of the GBA Business Challenge – Season IV. — Photo courtesy of the GBA Business Challenge

Students from Hồ Chí Minh City University of Technology (HUT) have been honoured as champions of a start-up competition, the GBA Business Challenge, convincing the panel of judges with their innovative business idea aimed to save the environment and highlight Vietnamese identity.

The winning team stood out with its business initiative ENSOVER: Sustainable Water Hyacinth Paper. The initiative transforms the invasive water hyacinth into high quality paper, turning an environmental issue into a sustainable solution.

Embodying the motto "From Waste to Great", the champion aims to highlight Vietnamese identity through innovative solutions to local environmental challenges, fostering national pride and showcasing Vietnamese ingenuity. This effort reflects Việt Nam’s commitment to sustainability and resilience.

“Participating in the GBA Business Challenge provided us not only with financial support and a capacity-building programme, but also a chance to challenge ourselves. We experienced the challenges and pressures of a real business environment. We have also gained a wealth of knowledge which has boosted our self-confidence and entrepreneurial spirit,” said a representative of the champion team.

The first runner-up was AGROWISE, a group of students from Đà Nẵng University of Economics and Vietnam-Korea University of Information and Communication Technology. The AGROWISE team persuaded the panel of judges with their business idea focusing on Internet of Things (IoT) technology. The technology empowers farmers to yield abundant crops while preserving valuable natural resources.

The second-runner up belonged to the MEDIFIND team which was comprised of students from Hồ Chí Minh City University of Economics and HUT. The group offered a comprehensive App which ensures the safe usage of antibiotics by meticulously analysing ingredient lists and providing decisive advice and warnings.

Launched by the Germany Business Association (GBA) in 2020, the GBA Business Challenge aims to support local young talents who have promising, forward-thinking ideas, helping them transform their visions as well as their initiatives into viable businesses.

The competition provides participants with entrepreneurial tools, real-life business experience, and a starting fund. The competition has attracted over 200 diverse business concepts with the potential to positively impact society, the environment, and people in the long term.

This year’s competition theme focused on addressing issues related to social, environmental, or sustainable development. Out of 50 startups that underwent a rigorous six-month training and evaluation process, five teams from various universities across Việt Nam reached the top ranks of the competition.

These teams presented their innovative solutions to compete for a prize of VNĐ350 million and a 12-month coaching programme.

The coaching programme is facilitated by experienced leaders and experts from the German business community in Việt Nam and professors from the Vietnamese-Germany University (VGU) and the German Academy Exchange Agency (DAAD). — VNS

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