Dak Lak Province Concludes Successful 2018 Startup and Business Initiative Competition

Dak Lak Province Hosts 2018 Startup and Business Initiative Competition Finals

DAK LAK – On the evening of October 12, the Provincial People's Committee, in collaboration with the Provincial Youth Union and the Young Entrepreneurs Association, organized the Finals of the Dak Lak Province Startup and Business Initiative Competition 2018.

The judging panel for the final round comprised many successful and renowned experts and entrepreneurs:

• Mr. Nguyen Viet Duc – Senior Advisor at SVF in Investment and CEO of Innovative Startup Investment Management JSC (ICM) – served as the Head of the Final Round Jury.
• "Guest Shark" Nguyen Ngoc Thuy, Chairman of Egroup Education Group and CEO of Apax English JSC.
• Mr. Vu Manh Hung, Chairman of Hung Nhon Group and Vice Chairman of the Vietnam High-Tech Agriculture Club.
• Mr. Hoang Minh Ngoc Hai – Senior Advisor at SVF in Commerce and CEO of VCHub JSC.
• Mr. Nguyen Ngoc Luan, Chairman of Saigon Business Association and Chairman of Hoang Linh Group.

After more than two months of implementation, the organizing committee received 125 registered ideas across various fields. Through successive rounds, the judging panel selected 31 outstanding ideas and projects to advance to the Final Round. From these finalists, the judges chose the top 4 ideas to be presented and awarded at the final night.

During the Final Night, the four authors or teams behind the selected projects directly presented their work:

• "Soursop Tea Processing" project by Nguyen Van Son (Krông Pắc).
• "Macadamia Nut Production and Business" project by Nguyen Thi Thu Phuong (Krông Năng).
• "Linking Agricultural Service Cooperatives and Output System Chain in the Province" project by Tran The Chau (Krông Pắc).
• "Smart Automatic Clothes Drying Rack" project by Bui Tuan Anh (Buon Ma Thuot City).

The judging panel evaluated and critiqued each project, while also providing valuable advice and strategic guidance for their real-world implementation.

The "Macadamia Nut Production and Business" project by Nguyễn Thị Thu Phương (Krông Năng) won first prize in the competition, securing a VND 100 million award. Her project impressed the judges with its presentation, high commercial viability, and social significance.

The second prize, valued at VND 50 million, went to Trần Thế Châu for the project "Linking Agricultural Service Cooperatives and Output System Chain in the Province."

Two projects received third prize, each worth VND 25 million: Nguyễn Văn Sơn's "Soursop Tea Processing" (Krông Pắc) and Bùi Tuấn Anh's "Smart Automatic Clothes Drying Rack" (Buôn Ma Thuột City).

Encouragement Awards and Direct Entries to Shark Tank Vietnam

The organizing committee also presented six encouragement awards, each valued at VND 5 million, to the following projects:

• "Help Global Home Healthcare" by Nguyễn Thùy Trang (Buôn Ma Thuột City)
• "Huvahi Turmeric Flakes" by Trần Thị Cẩm Vân (Buôn Ma Thuột City)
• "Straw Mushroom Production in Heated Houses" by Trần Thị Hoàng Hà (Buôn Ma Thuột City)
• "Cultivating and Extracting Essential Oils from Medicinal Plants" by Nguyễn Văn Tuấn (Buôn Ma Thuột City)
• "Organic Substrate from Pepper Plant By-products" by Phạm Văn Tuấn (Cư Kuin)
• "Processing Macadamia Nuts into High-Quality Products under the Central Highlands Specialty Brand" by H’Bích Niê Kđăm (Krông Năng)

Notably, Nguyễn Thị Thu Phương's "Macadamia Nut Production and Business" and Nguyễn Văn Sơn's "Soursop Tea Processing" projects received a special direct entry to the final round of the "Shark Tank Vietnam" competition, courtesy of Guest Shark Nguyễn Ngọc Thủy.

Investor Commitments at the Final Night

During the final and awards ceremony night, four projects successfully attracted investments from six investors, with four being local investors. Two of these investors were also members of the judging panel:

• Mr. Vũ Mạnh Hùng, Chairman of Hung Nhon Group and Vice Chairman of the Vietnam High-Tech Agriculture Club, committed to supporting Trần Thế Châu's project, "Linking Agricultural Service Cooperatives and Output System Chain in the Province."
• Mr. Nguyễn Ngọc Luận, Chairman of the Saigon Business Association and Chairman of Hoang Linh Group, committed to supporting Bùi Tuấn Anh's project, "Smart Automatic Clothes Drying Rack."