German association launches its Vietnam business challenge

Supported by the German Academic Exchange Service (DAAD) and the Vietnamese German University (VGU), the project aims to create an opportunity for developing exciting business ideas from and for Vietnam.

The GBA Business Challenge had successfully kicked-off in 2020, attracting interesting business ideas from all over the country. The five top teams of 2020 pitched their ideas to a professional business audience at the GBA Monthly Business Meeting.

The GBA Business Challenge 2021 has some core criteria: feasible and realistic; not yet in the market; and can be realized within 1 year.

The application and presentation has to be made in English. The contest is open for participants over 18 years.

Teams with the best ideas can win tap into prize money of VND 240 million (net) to turn their business ideas into reality.

The contest will happen in three basic steps: submission of application with an online form; waiting for feedback from the jury who will shortlist the top 20 for receiving professional training from the VGU to work out a convincing Business Plan; and selection of the top 5 who will pitch their ideas at the GBA Monthly Business Meeting in December to win the GBA Business Challenge.

Mr. Lukas Schoeneck, GBA board member and CEO of thyssenkrupp Industrial Solutions Vietnam, said: “We chose the business challenge instead of a charity, as we believe that as a Business Association, we can make a more sustainable impact by encouraging and mentoring business. Successful new companies are creating ever-increasing jobs, income, initiatives and purpose in the long term. It suits our predominantly SME membership well, and perfectly combines German business values with Vietnamese entrepreneurship spirit.”

Applicants can follow the official Facebook account at: https://www.facebook.com/GBA-Business-Challenge-109457337991987

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