The 7th Global Vietnam Startup Challenge 2024 was officially launched in a ceremony hosted by the Hanoi Youth Union on August 29. The event, aimed at fostering an entrepreneurial spirit and providing young Vietnamese with the resources to realize their startup ideas, was attended by nearly 900 youth union members alongside representatives from government agencies and leading businesses.

Guests take the stage to officially kick off the event with a dynamic opening ceremony. Photos: Hoang Nam

At the ceremony, the Hanoi Youth Union emphasized that this competition is part of the broader youth movement in 2024 under the directive of Program No. 07 of the Hanoi Party Committee. The program aims to promote science, technology, and innovation throughout the city from 2022 to 2025, with a strong focus on supporting the startup ecosystem and encouraging the international expansion of Vietnamese startups.

Vo Xuan Hoai, Deputy Director of the National Innovation Center (NIC), delivered a keynote address highlighting the importance of innovation in driving economic growth and national development. "The Global Vietnam Startup Challenge is a critical platform to equip young entrepreneurs with the knowledge and skills needed to succeed in the global marketplace," he said.

Tran Quang Hung, Deputy Secretary of the Hanoi Youth Union, underscored their commitment to nurturing the next generation of innovators. "This competition is not just a test of ideas but a gateway to meaningful support and opportunities that can turn those ideas into impactful ventures," Hung said.

Engaging in brief discussion sessions.

The highlight of the event was the official launching ceremony, where the countdown to the competition’s start was led by Hanoi’s youth leaders. As the LED screen lit up, symbolizing the commencement of the challenge, the auditorium erupted in applause, signalling strong support for the initiative.

Tran Quang Hung, Deputy Secretary of the Hanoi Youth Union, delivered a compelling presentation at the event.

The program also featured a panel discussion on "Open Innovation," with contributions from leading experts in the field, including Nguyen Van Noi, Head of New Technologies, and Nguyen Trung Dung, President of the Vietnam National Innovation and Startup Network (VNEI). The panelists shared insights on the latest trends in innovation and the critical role of collaboration in the startup ecosystem.

Huynh Dang Chinh, Deputy Director of Hanoi University of Science and Technology, delivered a presentation on the role of innovation in education, particularly focusing on how universities can foster an environment that prepares students for global competition. "Innovation is not confined to the lab; it’s a mindset that should be nurtured across all educational settings," Dr. Chinh stated.

With strong backing from government officials, business leaders, and educational institutions, the competition is poised to identify and support the next generation of Vietnamese startups, helping them to expand globally and contribute to the nation's digital transformation.