Bioplastic Startup Solves Vietnam's Green Development Problem

The National Agency for Technology Entrepreneurship and Commercialization Development (NATEC, Ministry of Science and Technology ) has just coordinated with the State Committee for Overseas Vietnamese (Ministry of Foreign Affairs), the Vietnam Science and Technology Entrepreneurship Fund (SVF), Project 844 Office and the National Startup Support Center (NSSC) to organize the Final Round of the National Innovation Startup Talent Search Competition Techfest Vietnam 2023.

Responding to the theme "Promoting national resources - Enhancing the Vietnamese innovation and startup ecosystem to integrate internationally", the Competition brought opportunities to connect financial resources, partners, develop markets, and share knowledge for startup founders.

Accompanying the competition throughout are more than 150 experts, partners, investment funds, experienced Technology Advisors in many industries and fields, more than 34 Techfest Vietnam 2023 Technology Villages and many partners.

After 4 months of launching, the competition received more than 500 applications from provinces and cities across the country and nominations from 18 technology villages and provincial startup competitions.

The winning teams will receive prizes with a total value of more than 18 billion VND in cash and in kind, including benefits for market development, product promotion, communication, support for working space, exhibition display and training.

Deputy Minister of Science and Technology Hoang Minh awarded the First Prize (Champion) to the BUYO Bioplastics team.

At the end of the selection process, the Grand Prize of the competition was awarded to BUYO Bioplastics. This is a 100% natural bioplastic startup with exclusive patented technology.

The product is completely biodegradable in the natural environment and safe for health, has superior properties and reduces carbon emissions.

In addition to the support from the competition, BUYO Bioplastics will represent Vietnam in international competitions in Korea, the US, Australia, Singapore, Europe, etc.

In addition, the runner-up prize of the competition went to the AIRX CARBON team with a solution to promote a circular economy by using agricultural, industrial and forestry waste to create bioplastic granules.

CENERGY - a unit that researches, develops and manufactures energy storage systems based on flow battery technology in Vietnam, aiming to solve the energy storage infrastructure in Vietnam, is the team that won the third prize.

BUYO Bioplastics bioplastic.jpeg — BUYO Bioplastics' bioplastic plates, spoons and forks.

Also at the program, 5 teams that match the development vision of the Korean market were selected to receive the 2023 Vietnam TechFest Shinhan Global Track Award global startup acceleration package organized by Shinhan Square Bridge Incheon in 2024.

Accordingly, this $60,000 sponsorship package went to the teams AirxCarbon, BUYO Bioplastics, Beekids, Toothless (Diaflow) and Trainizi.

According to the general assessment of experts and investment funds, the solutions participating in the competition have diversified in the development stage, solving specific problems in many fields such as education, entertainment, environmental protection, clean energy, waste reduction...

Mr. Tran Van Tung - Standing member of the Executive Board of Project 844, former Deputy Minister of Science and Technology (MOST) said: The MOST and the Executive Board of Project 844 are committed to continue to support and create conditions for Vietnamese ideas to continue to develop and accompany the country's economy.

The Ministry of Science and Technology will also create conditions for innovative and creative ideas to shine in domestic and foreign markets, promoting international integration.

"I hope these innovative solutions and initiatives will help solve the problems of state management agencies, corporations, and general companies, to develop greenly and sustainably, and to fulfill Vietnam's commitment to the world of Net-Zero by 2050," said Mr. Tran Van Tung.

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