Three months after launching the Da Nang Startup Runaway 2016, the contest's organising board has received 70 creative and breakthrough business ideas from local young people with a passion for start-ups.

The Joule Group has been awarded the first prize of 10 million VND for their ‘Breeding perionyx excavatus for shrimp farming’ project.  The group’s members are Le Thi Diem, Le Hue Anh and Dinh Thi Bich Thao, all from the Da Nang University of Economics.  

The Joule Group members receiving their award (Photo: Internet)

In addition, the group’s leader Diem won a prize of a 3-week study trip to Ireland.

The Joule Group’s project requires a 50 million VND investment to bring it to fruition, but the profits to be earned from the project are expected to be much higher than the initial investment capital.

Ms Truong Thi Van Anh, a lecturer from the University’s Marketing Faculty, praised the practicality and high applicability of the project.  She said, “Research activities help students promote their passion and creativity, and develop their teamwork spirit in order to create the best projects”.

A representative from the Joule Group revealed that she and her teammates intend to build a clean and closed breeding farm for the perionyx excavatus, a type of earthworm, and the products will be supplied to shrimp farmers.