This situation highlights the need for effective connections to bring startup ideas and projects closer to funding sources and opportunities for skill enhancement before entering the market.
Awake Drive, a system designed to monitor and maintain driver alertness using brainwave technology, recently won the top prize in the Startup Launchpad Competition 2024, held by the Hanoi Youth Union and the Hanoi Student Association in late December last year.
The project was developed by a group of students from Hanoi University of Science and Technology, National Economics University, and Foreign Trade University.
The system consists of two main components: a device that measures brainwaves and transmits data via Bluetooth, and a smart application that analyses the data to produce isochronic tones.
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Awake Drive system underwent extensive testing and improvements over nearly three years before becoming a practical product. (Photo: VOV) |
Although it sounds simple, the entire system underwent extensive testing and improvements over nearly three years before becoming a practical product.
Tran Van Luc, head of the project’s team, stated that Awake Drive uses brainwaves to detect early signs of drowsiness, subsequently producing engaging sounds that help restore alertness instead of relying on sudden auditory alerts like existing safety solutions.
Many vehicles on the market are equipped with cameras for monitoring drowsiness but most of them are designed for the high-end luxury segment. Some wearable devices alert users based on head tilt, but they only activate once the driver is already drowsy.
With a cost of only half as much and flexible leasing options, Awake Drive has strong competitive potential in the market.
“We estimate the product’s total revenue in Vietnam could reach one million USD, with a target market share of 10% within the first three years, equivalent to approximately 384,000 devices sold,” Luc explained.
Meanwhile, Easy-Comm – a project on establishing a communication platform for the hearing impaired by a group of students at Hanoi Open University has achieved significant recognition in various startup competitions, both domestically and internationally.
The project focuses on creating a communication platform that assists hearing-impaired individuals by using camera technology to recognise and convert sign language into text.
Project leader Ngo Duy Dong pointed out that while some existing software applications have been launched to translate sign language into text, they often require specialised cameras and equipment that raise costs and limit accessibility for users.
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Members of Easy-Comm introduces the project to the jury (Photo: doanthanhnien.vn) |
Easy-Comm offers free services for hearing-impaired individuals in Vietnam supporting two-way translation while utilising advanced technologies such as deep learning and artificial intelligence.
The primary target customer for this promising project includes approximately 2.5 million hearing-impaired individuals in Vietnam as well as businesses and organisations employing hearing-impaired workers, schools, and disability support organisations.
To reach the target customers, the team has chosen two main distribution channels through an official website and a smart mobile application platform.
With an expected investment between 50,000-70,000 USD and projected first-year profits ranging from 60,000 -120,000 USD, net profits after three years could reach 90,000-120,000 USD.
The product team commits to reinvesting in social programmes to create sustainable benefits for the community.
Easy-Comm will initially implemented in major cities such as Hanoi and Ho Chi Minh City before expanding into Southeast Asia and eventually targeting global markets.
The Startup Launchpad Competition is a platform to encourage entrepreneurship among students acting as a bridge connecting outstanding projects with investors and businesses.
According to Nguyen Tien Hung, Deputy Secretary of the Hanoi Youth Union and President of the Hanoi Student Association, the Startup Launchpad competition aims to realise the Hanoi Party Committee’s programme on promoting the development of science, technology, and innovation in Hanoi in the 2021-2025 period.
Entries submitted to the contest must have previously won high awards in university-level startup competitions or equivalent events.
The competition is a platform to encourage entrepreneurship among students acting as a bridge connecting outstanding projects with investors and businesses.
“Vietnam is entering a new era that requires students, and young people in general to fully leverage science and -technology to advance along the path of innovation while positioning themselves at the centre of rapid and sustainable national development”, Hung stressed.
For her part, Do Thi Kim Lien, a member of the competition's jury, hailed that the event provided participants with opportunities to show off their innovative thinking, technical skills, and resilience.
The competition has sparked potential ideas, fostering an entrepreneurial spirit and building a resilient generation of entrepreneurs. The organisers designed the competition as a journey connecting passionate contestants with investors and experts to help them gain confidence in transforming their vision into reality.
