12 start-ups in clean energy and circular economy compete in Green Tech Incubator

Sunday, Mar 26, 2023 10:02

Twelve start-ups are awarded certificates of completion of the Green Tech Incubator programme. — VNS Photo Mai Huong

Twelve start-ups working in the areas of clean energy and circular economy in Viet Nam successfully completed their training in the Green Tech Incubator programme in the Demo Day on Friday.

The incubator was established as part of the Digital Transformation Centre Project, a German Government-funded initiative being implemented by GIZ and the National Innovation Center (NIC) of the Ministry of Planning and Investment. Its purpose is to support start-ups in overcoming barriers to business development and tackle the challenges of Viet Nam's circular economy.

As urban populations are expected to grow to 66 per cent of the global population by 2050, cities are increasingly facing socio-economic and environmental challenges. Resource over-exploitation, increased industrialisation and urbanisation, and energy-intensive lifestyles have led to an increase in greenhouse gas emissions and negative consequences for the environment and people. Therefore, transitioning towards a circular economy is essential for achieving more sustainable development.

Viet Nam has recognised the importance of investing in circular economy and renewable energy as part of its development strategy for 2021-30. The Green Tech Incubator, which focuses on the circular economy and energy challenges in Viet Nam, was established to identify talents with innovative and practical solutions, supporting start-ups at the pre-seed and seed stage.

The 12 start-ups were selected from hundreds of applications, surpassing more than 40 potential start-ups and underwent four months of intensive training and support. At the Demo Day, each start-up shared an overview of their business and presented their holistic and sustainable approach to balancing social, economic, and environmental development. The top six start-ups were selected and granted funding ranging from US$1,000 to$ 5,000/start-up, along with continued mentoring from prominent companies like SAP and AWS.

Through the Green Tech Incubator, start-ups were given the opportunity to connect with global organisations, investors and corporations. This programme fostered an encouraging environment for start-ups to generate positive changes and address the energy-related challenges present in Viet Nam. — VNS

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