Sci-Tech

Vietnam Innovation Challenge 2024 announced

The Ministry of Planning and Investment, the National Innovation Centre and US tech giant Meta Group announced the Vietnam Innovation Challenge (VIC) 2024 in Hanoi on March 18, aiming to seek innovative solutions from domestic and international organisations and individuals to develop Vietnam’s semiconductor industry.
Vietnam Innovation Challenge 2024 announced ảnh 1The press conference announces the Vietnam Innovation Challenge (VIC) 2024 on March 18. (Photo: VNA)
Hanoi (VNA) – The Ministry of Planning and Investment, the NationalInnovation Centre and US tech giant Meta Group announced theVietnam Innovation Challenge (VIC) 2024 in Hanoi on March 18, aiming to seek innovativesolutions from domestic and international organisations and individuals todevelop Vietnam’s semiconductor industry.

Speaking at the press conference to announce the event, Deputy Minister of Planningand Investment Tran Duy Dong said Vietnam has risen as a potential factor inthe semiconductor industry with its strategic location, developing digitalinfrastructure and a wealth of young and creative workforce.

Vietnam’s semiconductor industry is expected to grow more than 6% during in the 2022-2027 period, Dong quoted forecasts from the Southeast Asia Semiconductor Association(SEMI SEA).

According to Director of Public Policy forSoutheast and South Asia at Meta Group Rafael Frankel, VIC 2024 will create aplayground that helps promote initiatives and capitalise on all opportunitiesto improve Vietnam’s integration into the global technology sector.

Themed “Innovation to Accelerate the SemiconductorIndustry and AI to Go Global”, the event aims to honour solutions that improve thequality of the semiconductor value chain’s design, packaging and testingphases, with priority given to AI applications, and those applying AItechnology to support business building and development and improveproductivity.

VIC 2024 is designed to promote collaborative thinking, attract resources, andestablish a multilateral cooperation platform to create a launching pad forVietnamese businesses to enhance value and elevate their position within theglobal value chain.

By seeking out and honoring solutions, the programme will contribute to theoverarching goal of raising awareness about the importance and value of thesemiconductor and AI industries. It will recommend and connect Vietnameseenterprises with solutions that upgrade and improve business operations, enhanceefficiency, and develop new products and services to increase theircompetitive edge in the global market.

The event, which runs until October this year, will provide a total prize poolof 300,000 USD for chosen innovative solutions. The winners will also be givena privilege support package, including technical support to survey foreignmarkets, co-working space and laboratories, along with opportunities to expand markets andpromote their brands./.
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