Approximately 60 per cent originate from startups, while the remainder stems from inventive small and medium-sized enterprises and corporations employing varied technologies. — Photo courtesy of NIC

The Vietnam Innovation Challenge Programme 2023 (VIC 2023) has attracted 758 solution applications from individuals and businesses in Việt Nam and abroad across eight diverse fields.

Driven by the vision of the Vietnam Innovation Initiative (InnovateVN), the initiative, steered by the Ministry of Planning and Investment, the National Innovation Center (NIC) and Meta Corporation, seeks innovative solutions from entities worldwide to address crucial national challenges, driving Việt Nam toward prosperity and sustainability.

Approximately 60 per cent originate from startups, while the remainder stems from inventive small- and medium-sized enterprises and corporations employing varied technologies. Notable industry players, such as VNPT Information Technology Company, Digital online meeting platform, MISA Joint Stock Company, EM and AI Joint Stock Company, and Retex Technology Joint Stock Company, have contributed a wide array of applied technologies.

In the era of Industry 4.0, marked by both opportunities and challenges, and amidst intensified commercial rivalry, the "Vietnam Innovation Challenge" has emerged as a compelling call for corporations, enterprises, and individuals to devise innovative solutions that support digital transformation and address pressing national concerns. The programme encourages solution providers to adopt systemic thinking, ensuring comprehensive problem-solving and long-term, sustainable solution execution.

Outstanding solutions stand a chance to secure prizes totalling up to US$300,000, coupled with comprehensive support for capacity enhancement, product research and development, workspace provision, solution promotion and market expansion. Winners will also partake in initiatives introducing and piloting solutions in major Vietnamese cities and provinces.

These solutions target four key issues: Strengthening Management Capacities for SMEs in Digital Transformation; Facilitating Digital Transformation for SMEs in the Global Value Chain; Fortifying Ties Between FDI Enterprises, Large Corporations, and SMEs via Digital Platforms; and Enhancing Effective Dialogue Between Government and Business Through Digital Channels.

The programme has garnered interest not only from Việt Nam but also from countries and territories boasting vibrant and advanced innovation ecosystems, including Singapore, South Korea, the US, Hong Kong (China), the Philippines and more.

The upcoming months will witness the recognition of the 12 most innovative solutions and the honouring of the top four during the inauguration ceremony of the National Innovation Centre's facility in Hòa Lạc Hi-Tech Park and the Vietnam Innovation International Exhibition (VIIE 2023), with Party and State Leaders in attendance. — VNS