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Vietnam holds the first national competition on Fintech startups

On April 18, the Ministry of Science and Technology (Science and Technology), the Central Committee of the Ho Chi Minh Communist Youth Union, Vietnam National University, Hanoi and Vietnam National University Ho Chi Minh City coordinated to organize the launching ceremony of the financial technology startup contest for students. Finnovation 2022”.

Finnovation 2022 is the first and largest competition at the national level for startups and innovation in the field of financial technology (Fintech).

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The launching ceremony of the Finnovation Finnovation 2022 student competition. Photo: Trong Dat

Finnovation 2022 will take place from April 18 to August 12, 2022 with many activities in both face-to-face and online forms. The goal of Finnovation 2022 is to select at least 100 student projects into the first round, 30 projects into the second round and 10 finalists.

The prize structure of Finnovation 2022 will include 1 first prize, 2 second prizes and 2 third prizes. In which, the project that wins the first prize will receive a Certificate of Merit from the Vietnam Student Association, VND 50 million in cash and gifts equivalent to VND 50 million. The individual or group that wins the first prize will also be proposed for a certificate of merit from the Central Committee of the Ho Chi Minh Communist Youth Union and the Ministry of Science and Technology.

In addition, projects progressing to the national final round will be introduced by the BTC to investment, consulting and implementation support units. In particular, the projects with the highest score in the final round will be promoted to meet with investors to call for capital.

On the first day of launching Finnovation 2002, more than 150 students in Hanoi registered to participate in the contest.

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Deputy Minister of Science and Technology Le Xuan Dinh. Photo: Trong Dat

According to Mr. Le Xuan Dinh – Deputy Minister of Science and Technology, we are facing great challenges from the 4th Technological Revolution. Digital transformation is an inevitable solution and trend for production and business units to improve. high capacity, competitive advantage, survival and development.

Finnovation 2022 is organized with the aim of popularizing and raising society’s awareness of innovation and intellectual property in the field of financial technology and digital transformation, contributing to promoting the startup ecosystem. innovation industry in Vietnam.

Finnovation 2022 aims to build an innovative, multi-field, international startup ecosystem, in which technology and innovation are used as a vehicle, young people and students are the core. take the community interest as a creative orientation.

This is a very meaningful event in the context of digital transformation with the goal of developing digital payments towards financial inclusion, promoting cashless payment. The contest will help individuals and groups of students have the opportunity to introduce their ideas and business models to leading experts in the Fintech field and the opportunity to find start-up capital.

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According to statistics from the Ministry of Science and Technology, there are about 140 startups in the field of finance and technology nationwide.

Sharing at the launching ceremony, Mr. Nguyen Minh Triet – Secretary of the Central Committee of the Youth Union, President of the Vietnam Student Union said that innovation is a key driving force promoting the development of the economy. for Vietnam to transform from a traditional economic model to a new growth model based on productivity and innovation.

In 2021, the whole delegation organized 1,453 creative and start-up idea contests with more than 13,900 startup ideas and 223,000 participants.

According to Mr. Nguyen Minh Triet, students are the future owners of the country, quick in thinking, able to quickly access new technology. Starting up the spirit of entrepreneurship and inspiring young people will therefore play an important role in the development of the country.

Trong Dat

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