Da Nang’s 4 startups have been named among the top 50 Vietnam Track in the 2022 Start-up Wheel contest, according to announcements from the contest’s organisers released in early August.

They are FUWA Biotech’ project created by Do Xuan Tien, ‘Retex - Real-Time Textile Production Management Platform’ by Tran Thi Thanh Loan, ‘Beekids’ by Le Trung, and ‘U-HOME’ by Tran Nguyen Long.

These startups from Da Nang will join the top 50 Vietnam Track and top 50 International Track for the 2022 Start-up Wheel contest which is scheduled to take place in Ho Chi Minh City on August 25 and 26.

Co-organised by the Business Startup Support Center (BSSC) and the Ho Chi Minh City Young Businesspeople Association, Start-up Wheel is one of the most important start-up events in Viet Nam and it is an 6-month program to help startups scale their business in the Vietnamese market.

Launched in March 2022, this year’s event has attracted the most potential startups of 2,000 startups around the world, and it will help them connect with Potential Customers, Business Partners, Industry Leaders, and Leading Investors through a series of activities and events.

The total of the prizes is worth VND1 billion. The prizes, which include cash and in-kind services, are VND400 million for first place, VND200 million for second place, and VND150 million for third place.

This year’s event will provide the opportunity for more than 150 best Vietnamese and international startups to display, introduce, demonstrate their innovative technologies, as well as raise funding for their projects. It is expected to welcome 15,000 visitors, including more than 500 investors, investment funds, entrepreneurs, experts from Vietnamese and international start-up support organizations.

First launched in 2013, the 6-month accelerator program running from March to August every year is one of the largest and longest run startup competitions in Southeast Asia.

Over the past 9 years, Startup Wheel has attracted 9,700 Vietnamese and international startups from 31 countries in all 5 continents; and welcomed 1,500 venture capital funds, individual investors, startup experts and global partners.

Reporting by M.Q – Translating by H.L