TechFest 2020 Final has been occurred in the Ha Noi University of Economy last Sunday. The competition is sponsored by Shark Tank, K-Group, and several sponsorships.
TechFest Final was the playground of innovation, acceleration, and development, and the festival for entrepreneur who was looking for an opportunity to boost their business in such a special year of 2020. K-Group, Startup Vietnam Foundation, Vina Capital Ventures, SunShine, and other companies and organizations accompanied to be the sponsorship of this competition.
The final of this competition is the ending of the three month-long journey of finding the best entrepreneur. The festival was created by Vietnamese KOLs and was the solution for new companies who struggled with economic crisis. Besides, the competition offers companies the capital aid so that they can re-invest and find a chance for innovation.
The competition of this year specifically is designated for Technology entrepreneurs or entrepreneurs that apply technology into their production and create a new business firm. According to the organizers of the competition, they received more than 250 profiles, and some of these entrepreneurs even created profit and a market for themselves.
Nonetheless, only 120 profiles were picked, and only 10 of these chosen ones got a chance to compete in the final day of the festival. The winner of this show will receive the capital aid of 200 million VND from the sponsorship and will become the representative of Vietnam in the Startup World Cup 2021 which can give them an opportunity to win up to $1 million.
The top 10 of this show will receive the investment agreement that can be up to 500 million VND. While the top 3 of the show will receive cash from the sponsorships and several capital aid offers. Besides those offers, Shank Tank Vietnam organization will choose 3 entrepreneurs in the top 10 and grant them the qualification into the Shark Tank 2021 final.
In the final show of the contest, the top 10 will have 30 seconds for their demo video, 5 minutes for describing their entrepreneurship, and 5 minutes for Q&A section. In order to support the judges, a group of technology specialists were invited to join the show. They will observe the demonstration of each teams and analyze the technology core of each entrepreneurs.
After the competitions of the top 10 TechFest 2020, there was a panel discussion about the struggle of the year 2020 and how can entrepreneurs turn those suffers into an opportunity for innovation and development. Mandy Nguyen, the organizer of the festival, said. “We received some outstanding profiles, and several of them showed the efficiency of using technology into production and contribution.”
In the end, the winner of the festival was GoStream, an entrepreneur that provide customers a livestream solution in every social media platforms such as Twitter, Instagram, and Facebook. GoStream is also the only company in Vietnam that provide interactive gaming solution.