With the goal of "Synergize to create digital societies", the contest targets individuals, organizations worldwide that have products, solutions that in 10 fields: mobile application; healthcare; education; finance-banking; agriculture; transport and logistics; energy; resources and environment; manufacturing; corporate management. This year, Vietnam's MIC and Viettel are searching for solutions to specific problems which are listed on the contest's official website.
In this season, Viet Solutions also accepts business ideas and increases the prize pool three-fold. The winner will receive 300 million VND (12,000 USD), two 2nd runner-ups 200 million (8,500 USD), two 3rd runner-ups 150 million (6,400 USD).
All contestants qualified for the main event will have the opportunity to enter a partnership with Viettel that has a profit-sharing term of up to 75%. Contestants will also be trained in essential skills by professors of top economic universities, angel investors, and CEOs of top companies.
Vice Minister of MIC, Nguyen Huy Dung said: "There are many problems that need just the right idea to solve. This is the overarching idea of the current season of Viet Solutions".
Viettel's CEO, Mr. Le Dang Dzung said: "The incubator model of three parties, government, corporates, startups generates huge synergetic power. The MIC creates legal corridors. Viettel has a large market worldwide that allows contestants that provide new solutions, products environment to grow. The startup community will provide creative products, solutions to help to solve the issue set by the ministry and are suitable for businesses in the market. This model of collaboration will help Vietnam accelerate its digital transformation progress."
Viet Solutions is an annual contest to find creative solutions that help to solve the current problem in society, contribute to the country's digital transformation plan. After two seasons, there have been 554 applications submitted, total revenue from partnerships amounts to 20 billion VND (870,000 USD).
In the previous season, the contest chose three winners: Mismart - using UAV to monitor crop health; Map4D - a Vietnamese map platform and CyRada - a cloud and web security solution.
SOURCE Viettel Group