Grand final of Business Challenges 2018

10/12/2018 10:42

On 8th December 2018, the grand final of Business Challenges 2018 was held at Hanoi Club. The event was coorganized by VNU University of Economics and Business and Friedrich Naumman Foundation (FNF), diamond sponsors are American Thriive Fund and Medlatec General Hospital.

The final was attended by Dr. Vu Tien Loc - Chairman of the Vietnam Chamber of Commerce and Industry (VCCI); Assoc.Prof.Dr. Nguyen Hong Son - Vice President of Vietnam National University, Hanoi; Mr. Moritz Kleine Brockhoff - Southeast Asia Regional Manager of FNF; Mr. Mark Stanizki - Country Director of FNF Vietnam. From VNU University of Economics and Business, there were Assoc.Prof.Dr. Nguyen Truc Le - Rector; Assoc.Prof.Dr. Nguyen Anh Thu - Vice Rector. The final also attracted representatives of German organizations in Vietnam (DAAD, AHK, GIZ); the mentors, sponsors, representatives of start-up community in Vietnam etc.

Overview of the event

Dr. Vu Tien Loc - Chairman of VCCI

Assoc.Prof.Dr. Nguyen Hong Son speaks at the competition

Speaking at the event, Assoc.Prof.Dr. Nguyen Hong Son said, 'Business Challenges 2018' was held with the aim of creating an environment for young people in Hanoi and neighboring provinces to develop the idea of start-up and solve business problems. Assoc.Prof.Dr. Nguyen Hong Son highlighted the important mission of combining theoretical teaching with real business practices for the students as well as providing high quality human resources for the society in the context of the industrial revolution 4.0.

Assoc.Prof.Dr. Nguyen Truc Le

Over the past eight months (from April 2018 to December) with 52 teams registered, the competitions have gone through 5 rounds and 6 intensive workshops to select 6 excellent teams to compete at the final gala. The innovation of the competition this year is the division of teams into two branches: Branch 1 'Startup' includes: team Yolife - project 'Center for the elderly'; Vi Do team - a 'free furniture rental' project near you; Straw scarecrow - producing and trading handicraft products from combed fabric with natural aromas.

Yolife team

Branch 2 on 'business problem solving' includes: Team S4U - Financial issues from Chaveny's green cosmetics; Felix team with the project 'Deploying the marketing campaign of Minh Long Woods "- cooperation with Minh Long Co., Ltd and the team" Calling investment capital for English Language Center iSpeak " BestB.

Lumos team

Announcing the rules at the Grand Final of Gala, Assoc.Prof.Dr. Nguyen Truc Le - Rector of the UEB said, the teams will present and defend their business projects in 20 minutes. The judges will ask questions directly, give scores and find the winner based on the feasibility of the project.

It is known that the value of prizes are: commemorative medal and a first prize of 50 million VND; 1 second prize of 20 million; 1 third prize of 10 million and 1 potential prize of 5 million.

Assoc.Prof.Dr. Nguyen Truc Le also emphasized that the competition will be held annually to support the students in start-up and training activities in accordance with the national business start-up scheme (Project 1665 of the Government).

ViDo - winner of the competition

Throughout the tough and thrilling time, all six teams have successfully completed their presentation. Business Challenges 2018 ended with the final result:

Vido team won the first prize, Felix team won the second prize, the third prize went to the Yolife team, the Potential prize belonged to the Straw Scarecrow team, the Lumos team received awards from Foreign Trade University.

Awarding the teams

Giving certificates for organizers and mentors

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Thanh Tu