In his closing remarks on Saturday at the Techfest Viet Nam 2018, Vice Minister of Science and Technology Tran Van Tung highly appreciated the great success of this biggest annual event for the country’s startup community.

Vice Minister of Science and Technology Tran Van Tung presenting the first prize to Abivin founders

During just 3 days, the event earned a total of about 7.86 million USD in commitment for 160 startup projects from investors.

Activities within the framework of the Techfest Viet Nam 2018 attracted a total of about 5,500 participants, many of whom were investors, representatives from domestic and foreign investment funds, speakers from Viet Nam and 20 other countries worldwide.

This year’s event also featured a total of 250 startup stands – the biggest number recoded since Techfest began in 2015.

Deputy Minister Tung affirmed that the constructive opinions and recommendations by investors and experts during Techfest seminars will be taken into careful consideration so as to enhance the effectiveness of supporting activities for startups in the country.

Besides, the Ministry of Science and Technology will strictly implement a national-level project to support domestic innovative startups, and work closely with other national government agencies to issue support policies and synchronise legal framework so as to facilitate the operation of domestic startup businesses, investors and startup support organisations at home and abroad, as welll as create favourable conditions for foreign businesses to seek investment opportunities in Viet Nam.

Within the framework of the ceremony, the results of the Innovative Technopreneur Contest 2018 final round were announced.

The first prize went to Abivin, which provides Artificial Intelligence (AI)-powered Supply Chain Optimisation solutions for enterprises.

The team will represent Viet Nam at the Startup World Cup competition which will take place in the Silicon Valley, the US, in May 2019, standing a chance to win up to 1 million US$ worth of investments.

VP 9 team, which specialises in electronic and software products, and services in audio and video transmission via the Internet, took the second prize, with a trip to South Korea to learn about its entrepreneurial ecosystem.

The third prize was given to Medlink team for the solution to link medical enterprises with drugstores. The team will take a Singapore trip to have an insight into its startup ecosystem.