Hanoi, Vietnam, May 12, 2014 - Vietnamese startups and small- and medium-sized enterprises (SMEs) in clean energy and climate technology sectors are invited to submit their business ideas in a contest organized by the soon-to-be launched Vietnam Climate Innovation Center.
Vietnam, with rising sea levels, fluctuating rainfall, and destructive typhoons, is among the countries most vulnerable to the effects of climate change.
Local climate technology innovations and solutions would enable Vietnam to adapt to climate change, mitigate emissions, meet energy needs, boost productivity, maintain competitiveness, and minimize dependence on fossil fuel imports.
In anticipation of the launch of the Vietnam Climate Innovation Center (CIC) in the second half of 2014, infoDev and the World Bank Group in partnership with the Asian Development Bank, are organizing a Proof of Concept (PoC) competition to identify emerging entrepreneurs that can become future Vietnam CIC clients.
Successful applicants of the competition will become eligible for:
- Grant funding up to VND 1,000,000,000 to develop, launch and/or scale up a product or a service;
- Preferred access to the VCIC program and its full range of advisory services (training, mentorship, facilities and access to finance).
Successful applicants will also have the opportunity to showcase their innovative concepts at the official Vietnam CIC launch and related media events.
Through its programs, activities and financing, the Vietnam CIC and its network of partners will provide a regionally driven approach to solving climate, energy and resource challenges and support economic development through job creation. Specifically, the Center will support the local entrepreneurs through a suite of business services. These include:
- Business advisory services to commercialize appropriate technologies
- Access to finance
- Policy advisory services
- Access to technology and market information
The Vietnam CIC is part of infoDev’s Climate Technology Program, which is creating a global network of Climate Innovation Centers (CICs). Part of the World Bank Group, the program supports SMEs and emerging entrepreneurs that are developing locally-driven innovative products and new business models in the climate technology sector. With CICs already operational in Kenya, the Caribbean, and Ethiopia, the Vietnam CIC will be the first in East Asia.
The Vietnam CIC is supported by the UK Department for International Development (DFID) and the Australian Department of Foreign Affairs and Trade (DFAT).
For media inquiries, please contact:
|Mr. Ngan Hong Nguyen, Communications Officer, World Bank Vietnam||Ms Adrienne Ravez, Liaison officer, PoC competition working group|
|Email: firstname.lastname@example.org||Email: email@example.com|
|tel: +84 4 3934 6600 Ext. 8234||tel: +855 9551 2356|
For other inquiries, please contact:
Hotline: +84 8 3520 7656
|Ms Linh Phuong Pham, Consultant, World Bank infoDev||Mr. Benny Tran, Consultant, Asian Development Bank|
|Email: firstname.lastname@example.org||Email: email@example.com|
For more information on the Proof of Concept competition in Vietnam visit www.vietnamcic.org.