Registration is open until April 30 for an annual business start-up contest oganised by the Business Start-up Support Centre and the HCM City Young Businesspeople Association.

Vietnam Start-up Wheel 2018 will be a forum for contestants to present innovative business start-up ideas and business strategies and mobilise funds for projects.

Unlike previous years, the sixth edition of the competition is open to contestants of all ages and nationalities who have a start-up in Viet Nam, according to Truong Ly Hoang Phi, director of BSSC.

It also encourages science researchers at institutions and schools, whose studies are feasible, practicable and lend themselves to commercialisation, and overseas students with start-up ideas for doing business in Viet Nam to take part.

The organisers expect to receive 1,000 start-up ideas and projects. A qualifying round will reduce the number to a maximum of 100 for the semi-final.

The final round in August will see 10 projects compete.

There will be a first prize worth VND200 million (US$8,771) for an existing company that is less than five years old and another worth VND150 million for startup individual/group, two second prizes worth VND70 million each, and two third prizes worth VND40 million each.

The organisers will also award prizes to most creative project, most-liked project and most outstanding project by students.

The winners will also have a chance to get investment, sponsorship and consultancy from experienced entrepreneurs to convert their start-up ideas/products into reality.

They will also get the opportunity for approaching local and international investment funds and receive training in running a start-up business from prestigious entrepreneurs.

The competition will be held across the country. — VNS