MBI announces smart city innovation challenge Vietnam finalists

In July, MBI put out a global call for entries, seeking smart city solutions in 12 key focus areas identified by the city governments and the smart city steering committees of Vietnam. 

The focus areas were: affordable housing, energy efficiency, traffic management and smarter parking, drainage, sewerage and waste management, urban agriculture, water purification and delivery, public security and monitoring of natural disasters, ecotourism and environmental planning, health care, education, e-Government services, and more greenery and public spaces. The call specified that solutions should be deployable and suitable for Vietnam’s cities.

“With Vietnam developing so rapidly and the requirements of urban dwellers often outpacing the city infrastructure, there has never been a greater need for innovative urban development solutions. The Smart City Innovation Challenge facilitates access to technologies and proven solutions from other parts of the world and assists in their adaptation to local needs”, Mr Dominic Mellor, Head of the MBI.

While Ho Ky Minh, Deputy Chairman of Da Nang city's People Committee emphasized: “The plan to turn Da Nang into smart city is prioritized as one of the most important missions. Located in the strategic position of Central region, Da Nang focuses on the importance of forecasting, risk management, and sustainable development. However, the forecasting capacity and risk management depends critically on technology development, especially communication and IoT. We are looking for modern technological solutions, which have been implemented in other countries to apply in Da Nang”.

The Smart City Innovation Challenge Vietnam received 197 submissions from over 30 countries, which will be short-listed by a selection committee of industry judges. Entries were evaluated based on the following criteria:

Relevance

Impact and localization

Scalability and plan execution

Business model

Team experience

The finalists including 15 teams selected from the top 20 companies basing on their availability and uniqueness of their solutions.

All finalists will compete in the Demo Day to showcase their solutions to local government authorities, potential corporate partners, and investors. Leading up to the Demo Day teams will be matched with noteworthy mentors within the Vietnamese ecosystem, offered co-working space, and connected with local companies and stakeholders.

Finalists will be evaluated on their concept’s relevance to address real urban challenges in Vietnam, the company’s business potential, uniqueness of idea, and the team’s ability to execute the plans.

Up to three winners will be selected at the Demo Day. They will receive cash prizes and be fast-tracked to the cities’ acceleration programs to help localize their solutions, consequently securing projects if agreed milestones are met.

Other teams who applied for the Smart City Innovation Challenge still stand to gain from attending the demo day as it provides a platform for them to work with potential corporate champions and industry mentors, network with key stakeholders within Vietnam’s smart city community, meet investors and accelerators, and connect with co-creators within the industry.

The Demo Day is being organized by MBI in cooperation with the National Agency for Technology Entrepreneurship and Commercialization Development (NATEC-MOST), HCMC Department of Science and Technology, Da Nang Business Incubator (DNES), Vietnam Angel Investor Network (iAngel) and Vietnam Software Association (VINASA).

In 2015, the Asian Development Bank and the Australian Government jointly launched the MBI, catalyses private sector development in emerging Association of Southeast Asian Nations (ASEAN) markets, focusing on Cambodia, the Lao People’s Democratic Republic (Lao PDR), Myanmar and Vietnam./.

Top 15 finalists and details: