2023 Application Result





The early-stage Vietnamese startups that applied to ICAS 2023 came from across the nation, with Ho Chi Minh City (36%), Hanoi (22%), and Da Nang (4%) being major hubs.

The proportions of each subsector among all applicants are as follows: The education/care sector accounted for the largest share, followed by energy, marketing, and waste/resource circulation. Information accessibility and food distribution also had significant representation, while mobility, content, and food production were well-represented. Air quality, healthcare, workforce management, and logistics/distribution each had notable participation. This diverse representation highlights the broad range of industries involved. The investment stages were well-distributed, ranging from pre-seed to Series A.

This diversity among the ICAS 2023 applicants, in terms of geography, sectors, and growth phases, reflects the dynamism and potential of Vietnam's burgeoning startup ecosystem, poised to drive regional innovation and economic development.

IR Pitching Day

Last year's Pitching Day event served as a collaborative platform for diverse stakeholders to come together and deepen their understanding of impact-driven businesses that address societal challenges. The event brought together impact startups, government agencies, domestic and international investors, large corporations, as well as for-profit and non-profit sectors.

By gathering these ecosystem players under one roof, Pitching Day facilitated the exchange of ideas and fostered a spirit of cooperation towards a common goal of creating positive social impact. Participants had the opportunity to network, share their perspectives, and explore synergies that could propel impactful solutions forward.

With the overarching themes of Green and Digital, the event culminated in the selection of the top two startups demonstrating the most promising innovations in these areas. Notably, Alterno, the first-place winner, garnered significant interest from investors, international organizations, and partners present at the event. Their groundbreaking sand battery technology, aimed at combating climate change, gained valuable support and resources to scale its impact globally.

The Pitching Day event underscored the power of collaboration within the impact ecosystem. By bringing together like-minded individuals and organizations, it laid the foundation for collective efforts to nurture and amplify solutions that can create a more sustainable and equitable world.

Introduction of
2023 ICAS TOP 1~20 Companies


Alterno develops sand batteries that can store power generated by renewable energy and deliver it as thermal energy, replacing fossil fuels in agricultural drying and home heating.

  • Alterno is reducing carbon emissions in Vietnam’s crop drying sector by replacing fossil fuels with environmentally friendly processes using its sand battery-based thermal energy storage system.
  • Alterno enables Vietnamese farmers to efficiently dry their agricultural produce using sand batteries, leading to increased production output and higher incomes.
  • Alterno is planning solutions to address climate change by utilizing sand batteries, closely monitoring international green policies.

TOP 2 develops a platform and software for field workers and companies, providing job matching, digital time attendance, automated payroll services, and more.

  • creates decent work by enabling legitimate contracts, preventing employment fraud, and providing insurance services.
  • Moreover, aims to provide training courses and vocational education in the future for workers to empower the worker’s ability and contribute to income increase.

TOP 3~10

Assignment and test submission LMS for teachers and students

Control & Automation Solutions
Eco-friendly agribusiness producing organic vegetables through rooftop urban farming

Agricultural technology solutions and financial services for local farmers.

Platform for mental health prevention contents

Rayo Lab
Browser services to improve web accessibility

B2B SaaS-based workforce talent management and productivity improvement solution

Solano Energy Vietnam
Revolutionizing household power distribution in Vietnam with solar battery modules

Wiibike Vietnam
Electric bikes for an eco-friendly lifestyle

TOP 11~20

Alpha Asimov Robotics
Unmanned autonomous delivery robots reducing last-mile delivery costs.

Producing biomass-based biodegradable plastics.

Providing comprehensive location data solutions empowering businesses.

AI-powered automated video production SaaS platform

Foodmap Asia
Agricultural traceability system and IoT platform connecting farmers and customers.

Agricultural traceability system and IoT platform connecting farmers and customers.

Smart water, energy monitoring and management system

Direct-to-consumer distribution platform connecting retailers with consumers

AI-powered omnichannel activation solution for retailers

Providing sex education content for young people.