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faq

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  • Is it necessary to be established as a Vietnamese corporation?
  • Start-up teams in their idea/early stage without establishment as a Vietnamese corporation can apply and be selected. However, since this competition aims to actually invest in outstanding start-ups, it is recommended to complete the establishment as a Vietnamese corporation by November 2022 for those selected as Top2.

  • Is it necessary to be established as a Singaporean corporation?
  • It is not mandatory, however, when the team is selected as the final investee and is under investment screening, establishing a Singaporean corporation would be necessary to attract global investment.

  • Is it possible for start-ups that are not engaged with the proposed themes (green, digital) to participate?
  • For this competition, only teams in the fields of Green and Digital will be selected. However, the applicants who applied to this competition regardless of the fields will also be reviewed and have a chance to receive a prize and investment, separately from this competition. We interpret the field of green and digital in a broad sense and believe that the potential of various types of innovative ideas can be blended with green and digital.

  • Which types of administrative management should be undertaken in regards to the prize money?
  • Since the prize money for teams ranked 3rd to 20th is a simple prize money, your team only needs to submit a brief document upon request. However, since the prize money for teams selected as Top2 will be given as business development expenses, a business plan and a final report on business implementation and prize money expenditures are required. In addition, the investee will be requested to administer a more detailed business plan and implementation along with the settlement of prize money expenditures.

  • How do a team know if the theme of its business is eligible to participate?
  • Please refer to the [Theme] menu of the website to find business examples in each theme.

  • Can teams in their idea stage that did not initiate the business apply?
  • Teams that have not initiated their business yet, but can carry out their business in the near future, can apply.

  • Can teams apply regardless of the number of team members?
  • Teams can apply regardless of the number of team members.

  • What is the time frame for this competition?
  • If your team was selected as Top 20: You must participate in an interview(Online) in July. (Challenge ends for the teams that did not advance to Top 10 in the interview.)

    If your team was selected as Top 10: You must participate in the IR Pitching Competition in Hanoi in August 2022. (Challenge ends for the teams that did not advance to Top 2 on the day of the competition.)

    If your team was selected as Top 2: The Top 2 teams will operate the business using the $20,000 Solution Development Fees given, from August 2022 to October 2022, and the final evaluation will determine the Top 1 in mid-November 2022.

    If your team was selected as Top1: The Top 1 team will operate the business using the additional $30,000 Solution Execution Fees given, from December 2022 to March 2023.

    *Time frame above is subject to change.

  • Can Top 1 be different from the final investee?
  • The final investment review will be conducted for teams selected as Top2 and only one team will receive the investment. Therefore, Top1 and the final investee may be different. However, the investment may not be made if it is considered that none of the teams are suitable.

  • What should a team that established a corporation in 2022 and does not have financial statements do?
  • In the case of start-ups that do not have financial statements for 2020 and 2021, you can fill out the financial status through financial-related sections in the application form.

  • Is there an application fee?
  • There is no application fee for this competition.

  • What is the next step after submitting the application?
  • After submitting the application through this website, teams who passed the document screening will be informed via email individually.