Competition for global Vietnamese startups launched hinh anh 1Leaders of the Hanoi HCYU Committee and the Hanoi chapter of the Vietnam Youth Federation launch the Youth Month 2020 on February 29. VietChallenge 2020 was also kicked off at this event (Photo:

Hanoi (VNA) – The 6th edition of VietChallenge, a competition for Vietnamese startups around the world, was launched in Hanoi on February 29.

The competition is organised by the Hanoi committee of the Ho Chi Minh Communist Youth Union (HCYU), the Hanoi chapter of the Vietnam Youth Federation, the Association of Vietnamese Students and Professionals in the US, and the Office of Project 844 on supporting the national startup and innovation ecosystem until 2025.

Secretary of the Hanoi HCYU committee Nguyen Ngoc Viet said since the first edition in 2015, VietChallenge has attracted 800 startup projects from 21 countries. Its total prizes have amounted to 180,000 USD.

At the launching ceremony, the committee also introduced Jóng Ventures, a crowdfunding platform, to startups and small- and medium-sized enterprises.

Several documents were also signed at the event, including an MoU on supporting startups of young Hanoians among the municipal HCYU committee, the Office of Project 844, and the National Startup Support Centre, along with an investment contract for a crowdfunding platform between Jóng Ventures and HLH Holding Co. Ltd.

Organisers hope that this programme will prove useful for assisting young people to develop startups and connect with investors, thus contributing to the startup and innovation ecosystem in Vietnam./.