Young workers do research on hi-tech agriculture development. As many as 24 innovative clean-tech startups graduated from Viet Nam's first-ever Clean Tech Bootcamp this week. — VNA/VNS Photo Manh Linh

HCM CITY (Biz Hub) — The World Bank announced on October 17 that 24 innovative clean-tech startups graduated from Viet Nam's first-ever Clean Tech Bootcamp this week.

During the four-day program, participants learned to refine their product strategies, business models and marketing pitches, sharpen their negotiating skills and network with clean-tech entrepreneurs, investors and peers.

Laura Altinger, senior environmental economist at the World Bank Viet Nam office, said the country's climate-related challenges, combined with its rapid economic development, called for innovative local solutions.

"The development of locally relevant climate tech ventures will not only enable Viet Nam to adapt to climate change and reduce emissions but also meet energy needs, maintain competitiveness and minimise dependence on fossil fuel imports," she added.

Dr. Aiming Zhou, senior energy specialist at the Asian Development Bank (ADB), one of the training co-organisers, said: "To tackle climate change, we need to help train innovative and successful climate technology entrepreneurs. A bootcamp like this, which provides intense hands-on support to the most promising emerging climate technology businesses in Viet Nam, plays a critical part in making this happen."

InfoDev/World Bank's Climate Technology Program (CTP) and the ADB jointly initiated the programme, which helps small and medium enterprises (SMEs) develop and bring to the market innovative clean-energy and energy-efficient solutions and adaptation technologies in the areas of transportation, agribusiness and water management.

With the success of the bootcamp, the programme will continue to nurture and mentor the graduates and other climate technology SMEs and startups through the Vietnam Climate Innovation Centre (Vietnam CIC), to be launched in late 2014.

With support from the United Kingdom Department for International Development (DFID) and the Australian Department of Foreign Affairs and Trade (DFAT), the Vietnam CIC will provide business advisory services and technology commercialisation funding for up to 65 climate technology entrepreneurs, including equity investments to 25 companies in the first five years.

Through this support, the centre is expected to reduce or avoid 225,000 metric tonnes of CO2 emissions, the equivalent of the annual emissions of 47,000 passenger vehicles; improve access to clean water; increase agricultural efficiency; and provide access to renewable or more efficient energy sources. — VNS