This is annual competition during the past five years organized by the Business Start-up Support Centre (BSSC) and the Young Business people Association (YBA) of Ho Chi Minh City under the direction of the Vietnam Youth Union and the Vietnamese Student Association.
At the launching ceremony, Assoc. Prof. Le Thi Thu Thuy, Vice Rector of Foreign Trade University, said that to catch up with the current trend of young people, Start-up Wheel is launched to help individuals and businesses realize their dream of starting a business. The competition attracts nearly 700 projects to register each year and aims to launch 1,000 start-up ideas in 2017. At the same time, it is stressed that at this first time in the North, many good ideas are expected to turn into reality.
Start-up wheel is an annual competition for Vietnamese student
At the ceremony, in addition to listening to the rules and method of participating, with the topic of “Thinking outside the box” - young people will be equipped with new perspective and different thinking with the share of successful Start-up professionals. The program is divided into two main parts: Start-up Businesses and Products / Services of existing business.
In addition, the organizers also provide opportunities for young people interested in starting a business to exchange on successful start-ups such as Uber, the world's largest transport service provider without owning any car; Facebook, the world's largest share of information which does not create any content or Alibaba, the world's most valuable retailer without even have a warehouse and Airbnb, the world's largest provider of housing without any real estate. These are the sources of untainted thinking that dares to think differently and to realize it.
Ms. Truong Ly Hoang Phi - Director of the Business Start-up Support Centre - General Secretary of the Young Business people Association of Ho Chi Minh City and Head of the Organizing Committee of the competition, said that she regarded the way of starting a business of anyone is a continuous cycle. Therefore, the name of the Start-up Wheel program started from that. "The program is not aimed at just letting start-up projects into the idea level but wish to provide young people with opportunity to actualize and perfect their projects", she said.
At the same time, she revealed that contestants who get into the top 10 will receive direct financial investment, as well as the absolute sponsorship of the media. In addition, through the rounds, young people will gain valuable knowledge and lessons, especially the attraction of online media as well as online investment funds to continue preparing for the future start-up".
The Start-up Wheel 2017 is targeted at individuals, start-ups under 35 years old, and businesses that operate less than 5 years. The total value of this prize is up to 1 billion VND, of which 150 million VND is for individuals / start-up groups and 200 million VND for start-up enterprises. The application deadline runs from now until May 15, 2017 and the program runs until August 23, 2017.