The ceremony acknowledged the efforts of the first seven enterprises in graduating from a year-long incubation period and 17 winners of the second Proof-of-Concept Competition (POC2).
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Managed by the Ministry of Science and Technology, VCIC supports local entrepreneurs to develop innovative technologies and business models in a range of climate technology-related areas to support Vietnam’s economic development, job creation and industrial competitiveness. In winning the POC2, the 21 entrepreneurs from nearly 400 entrants will receive incubation services and financial support from VCIC, while the seven graduates from POC1, which have considerably strengthened their businesses as the results of VCIC’s support will now be best positioned to access new markets.
“On behalf of the Ministry of Science and Technology, I would like to congratulate the winners of POC2 and highly appreciate the efforts and contributions of the POC1 businesses during the journey with VCIC to achieve their goals. I expect the POC1 graduate enterprises to continue to grow and POC2 winners to achieve even more success. These enterprises will have positive impacts on the economy, environment, and society,” said Mr Chu Ngoc Anh, Vietnamese Minister of Science and Technology.
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In proving the positive economic, social, and environmental impacts of their business plans to the VCIC selection panel, the winning and graduate entrepreneurs now have important roles to play as pathfinders for the country’s fledgling clean-tech and environmentally friendly industries.
“Through projects like VCIC, the World Bank Group supports emerging economies, and a big part of that equation is adapting to climate change and pursuing climate-smart development. The winners and graduates honored today are best placed to find innovative solutions to climate challenges within communities and to play key roles in contributing to the local economy and creating jobs,” said Mr Ousmane Dione, Country Director for the World Bank in Vietnam.
Supporting and incentivising international actions to combat climate change is a priority area for the UK’s international climate finance. VCIC is a platform for innovative ideas, generating transformational impacts at scale through the transfer of affordable climate technologies, disseminating good practice, and opening up new market opportunities and commercial potential for businesses.
“The enterprises supported by VCIC are driving change in Vietnam. We are proudly assisting Vietnam to create a more capable and confident private sector and to pursue an aggressive innovation and learning agenda under our Aus4Innovation program”, said Mr Layton Pike, Deputy Head of Mission, Australian Embassy in Vietnam.
Following the awards ceremony, VCIC will hold a training program from September 21st-23rd to increase knowledge and skills for both groups of enterprises, focusing on the business plan, market research, marketing and technology descriptions./.
VCIC is a World Bank Group project, supported by the Australian and UK Governments, provides financing, mentorship, and advisory services to local clean-tech entrepreneurs in the key sectors of energy efficiency, information technology for clean tech/climate change related tech, renewable energy, sustainable agriculture, and water management.
As part of the World Bank Group’s Climate Technology Program, a global network of innovation centers in seven countries, it also provides a platform to create national and international business-to-business linkages, enhance knowledge sharing, and facilitate trade.