The contest was part of a series of events to celebrate World Creativity and Innovation Day (April 21) and World Intellectual Property Day (April 26).
Speaking at the ceremony, Deputy Minister of Science and Technology Le Xuan Dinh said that the Finnovation Contest 2022 aimed to popularise and raise society's awareness of innovation and intellectual property in the field of financial technology and digital transformation, contributing to promoting the innovation start-up ecosystem and building a growing domestic start-up community that is competitive throughout the region and the world.
The contest aims to build a multi-disciplinary finnovation creative start-up ecosystem of international scale, with technology and innovation as the means, young people and students as the core, and taking the benefits of the community and society as a creative orientation, the Deputy Minister noted.
Deputy Minister of Science and Technology Le Xuan Dinh
Participating in the contest will allow individuals and groups of students to introduce their ideas and business models to leading experts in the fintech field to receive companionship, and legal support, as well as approach investors, seek capital for start-ups and commercialise products and services, he added.
The Organizing Committee will award one first-place prize, including the Certificate of Merit from the Vietnam Students’ Association and a cash prize worth 50 million VND or gifts equivalent to 50 million VND; two second-place prizes and two third-place prizes.
In addition, projects qualifying for the final round will be introduced by the Organizing Committee to investment units, consulting and supporting the actual project’s implementation, ensuring it is appropriate and practical to the development needs of the projects.
The top ten projects with the highest score will have the opportunity to meet investors to raise capital.