A startup contest for rural youngsters was launched in Hanoi on June 15 by the Central Committee of the Ho Chi Minh Communist Youth Union. The contest is open for youth union members aged from 18 to 35 who have ideas and projects to set up agricultural businesses in crop cultivation, animal husbandry, fishery, forestry, processing and preservation, agro-tourism, and community-based tourism, among others.
Taking place until October, the entries will participate in three rounds of competition and the best 30 will be selected for the final round, during which the candidates will have to present their ideas to the jury and investors.
The first prize winner will be awarded VND50 million and their start-up project will receive funding worth up to VND1 billion sourced from the national fund for employment’s loan assistance.
Two second prizes, three third prizes and three consolation prizes worth VND30 million, VND15 million and VND10 million each, respectively, will also be presented and a total of VND1 billion will be distributed to fund these winning projects.
During its previous two editions, the contest attracted 404 initiatives and projects with 20 candidates having been supported to access loans worth over VND4 billion VND from the national fund on employment, while 62 others had chance to participate in business training courses worth a total VND830 million.