The startup competition ‘Vinacapital Ventures Vietchanllenge (V3 Track)’ will be launched at the Innovation Festival in Hanoi on November 25, Kinh te & Do thi reported.

The competition is launched by the Ho Chi Minh Communist Youth Union in Hanoi to create opportunities for startups to get access to foreign venture funds and introduce Hanoi’s image as an attractive investment destination during the Covid-19 pandemic.

‘Vinacapital Ventures Vietchanllenge (V3 Track)’ will be launched in Hanoi on November 25. Photo: Kinhtedothi.vn

At the event, the venture capital platform TREKKRS.ASIA and the investment connection for innovative startups in ASEAN worth US$1.7 billion will be launched.

Besides, a memorandum of understanding for the formation of the Capital Innovation Network Capital Ventures Network (TECHFEST International) will also be signed.

At the same time, the final of the Vietnam global startup competition V3 Track will also be held with the participation of the five strongest startups in the region along with CricketOne (VietChallenge champion 2020 team).

The event will see the attendance of 23 leading groups in the region and 154 investment funds, 10 associations of overseas Vietnamese students, 20 universities and 783 startups coming from regional economies such as Malaysia (19%), Vietnam (17%), Thailand (16%), Singapore (13%), Indonesia (12%), South Korea (12%) and Taiwan (11%).

VietChallenge is an annual startup competition for entrepreneurs from all over the world, hosted by the Association of Vietnamese Students and Professionals in the United States. This is a non-profit organization with a passion to empower entrepreneurs in South East Asia and around the world, connecting them with investors, mentors and bringing their innovative ideas to the market.

At the Innovation Festival, participants will be able to join a technology demonstration and a seminar on Digitalization of Start-up Investment in ASEAN.