The competition is part of TECHFEST Vietnam 2024, organised annually under the direction of the Ministry of Science and Technology (MoST).
The biotech startup, YEAST ERA, claimed the top spot in the final round. The team is pioneering probiotic protein production by combining modern biotechnology with natural ingredients. Their innovative solution provides immune and digestive health benefits while offering an environmentally sustainable alternative to traditional protein sources.
The second and third prizes went to ENFARM, an agritech company focused promoting sustainable agriculture with affordable precision soil sensor technology, and TUBUDD, a platform connecting travellers with local 'buddies' for authentic travel experiences, respectively.
The top three teams will receive a total of nearly 16 billion VND (630,000 USD) in cash and in-kind prizes, along with support for market expansion, product promotion and brand building. Additionally, the winners will have the opportunity to participate in training programmes aimed at accelerating their growth and success on the global stage.
The competition aims to nurture the nation's entrepreneurial ecosystem and promoting innovative startups. The event brought together more than top-tier investors, experts and startups, providing a platform to showcase creative solutions in various fields including technology, agriculture, tourism and sustainability.
The competition saw participation from nearly 500 applications from across Vietnam, with candidates chosen through several rounds of selection.
This year’s competition also featured the She TechFest initiative, which recognised female-led startups, with the REPEET team, a sustainable fashion company founded by women, winning the Women in Creative Entrepreneurship award for their innovative use of recycled PET bottles.
Director of the Market Development Department under the Ministry of Science and Technology, Pham Hong Quat, praised the competition for reflecting the new momentum of young Vietnamese minds.
“This final stage highlights the rising potential of Vietnam’s youth, driven by a deep desire to contribute to both domestic and international markets,” Quat said.
“Techfest Vietnam is a critical platform to showcase Vietnam's ability to foster a thriving innovation ecosystem.”
Director of the Hai Phong Department of Science and Technology Tran Quang Tuan emphasised the city’s commitment to creating a dynamic, sustainable startup environment and fostering technology-driven businesses with a global impact.
Techfest Vietnam 2024 also provided a space for networking and knowledge exchange between emerging start-ups, investors and other key stakeholders, creating opportunities for long-term collaboration and business development.
