Startup Competition- Participate in one of the largest startup competitions in Asia

by Ashish

Start-up wheel competition 2020

Startup Wheel is a 6-month startup competition, run from March to August annually for startups and young entrepreneurs all around the world. First launched by Business Startup Support Centre (BSSC) and Young Business People Association (YBA), Startup Wheel is now the largest and most prestigious annual startup competition in Vietnam for young generations who are passionate about a startup.

Startup Wheel 2020 has officially kicked off. Initiated by BSSC and Young Business Association (YBA), this is the second year they have opened an official track for international startups who are interested in expanding their business to the Vietnam market – One’s of the economic hubs in Southeast Asia.

They are calling for applications all around the world and as an International Partner of Startup wheel, we would personally like to recommend every start-up to participate in this event and expand their businesses through tapping on the opportunity that lies in this growing market. 

Statistics of the Startup wheel competition till now

1. Until now, Startup Wheel has attracted 5,863 applications. 

2. More than 550 tech start-ups

3. 120,000 visits

4. Garnered the attention of approximately 80 local media

5. Supported fundraising of up to $30 million in disclosure. 

6 Rounds of the Startup wheel competition

There are 6 rounds of this competition. The 6 rounds are as follows

1. The first round of the competition will be the application submission. The application submission will be done through online means. The applications will be invited and can be submitted from 1st March to 31st May. 

2. The second round will be the screening round of all the applicants. This phase will also be done through online means. This will take 15 days starting from 1st June and ending on 15th June.

3. After the screening of all the applicants, the selection of the top 50 among all the applicants will start on 16th July. This selection round will end on 14th July. This round will be performed online too.

4. On the next day, that is 15th July, all the top 50 selected start-ups will be announced online. 

5. There will be a semi-final round with the selected applicants and the competition will end with the final round with the promoted applicants from the semi-final. The semi-final and the final will be held on 21st and 22nd August at Ho Chi Minh City, Vietnam.

Also Read – https://entrepreneurbus.com/graffersid-aiming-to-increase-success-rate-of-start-ups/

Eligible participants 

1. Individual/ Team

An Individual or team who has a business model but haven’t formed an enterprise yet. 

2. Enterprise

An Enterprise that has an innovative business model operating under 5 years.

3. Researcher/ Scientist

Researchers or Scientists who are science researches at universities that can be commercialized.

4. Student/ International Student

All the Student/ International Student who has an innovative and potential business model

5. International Startup

The International Startups who wants to expand their business to Vietnam market

The competition runs annually with a 6-month qualification process and is wrapped up with a 2-day event in Vietnam for pitching and exhibiting their products/services to +500 investors, VCs, and large corporations; +200 exhibitors; and 15,000 attendees from all around the world.

➡ Apply now via https://startupwheel.vn/register/
➡ Contact at global@bssc.vn

Timeline-

The tentative prize structure of 2020

1. The winner of this startup competition will get at least and in equivalent to $25,100 of benefits including a cash prize, consultation, and business registration, VNG Cloud Promotional Credit, etc. 

2. The top 2 to 5 startups of the competition will get at least and in equivalent to $6,000 of benefits including some of the winner’s benefits.

3. The top 6 to 50 startups of the competition will get at least and in equivalent to $2,800 of benefits including a few of the benefits of the top 5 startups.

 

About the organizers

BSSC was established under the Decision No. 4532/QĐ-UBND of People’s Committee of HCMC. The decision was to restructure The Center of Youth Economic Information Consultancy into a business support center, an agency of the Vietnam Youth Federation. 

The mission of BSSC is to help Vietnamese young people to ground their business ideas and to integrate and sharing experience and knowledge, making a bridge connecting useful resources from individuals, as well as domestic and international groups with startups, to lay a solid foundation in their startup process.

Young Businesspeople Association of Ho Chi Minh city (YBA): Founded in 1994, the Ho Chi Minh City Young Business Association (YBA) was the first association expressly for young businesspeople in Vietnam. Its mission is to gather young entrepreneurs together to develop their business skills as well as to contribute to the development of the local and national economy. YBA’s major goal is to become a professional business support organization to better meet the increasing needs of members and to help them compete when Vietnam enters the global market.

Vietnam is one of the most fast-growing economic hubs in Asia. Vietnam had a GDP of $266,5 billion last year. Vietnam had a growth rate of 6.5 percent and around $16,75 billion FDI in 2019. Startup wheel competition has been introduced as a gateway to this growing economic hub. 

We believe that by participating in this competition, startups will get to know about a lot of different startups and the opportunities in the Vietnam market. Different start-ups will be able to expand its business to the Vietnam market and will be able to grow there.

Also Read – https://entrepreneurbus.com/start-con-startup-pitch-competition-2020-for-1-million-dollar/

Now here is a message from the organizers to all the potential startups out there.

We think that STARTUP is a non-stop WHEEL, it means a continuous process. Throughout “Startup Wheel”, we would like to share with startups a message “Don’t hesitate and keep moving forward like a wheel by all belief and willingness”

Click on the link below for more information 

https://drive.google.com/file/d/1YcvoQyZbTBfVbTfWXgUeJG062ZIVAjV9/view

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