OFFER LOAN SUPPORT UP TO 1 BILLION VND FOR START-UP PROJECTS OF RURAL YOUNGSTERS
The contest offers support for rural start-ups is looking for feasible projects to award. And the national fund for employment loans will provide 1billion VND (US$42.820) of loans to be distributed among these feasible projects.
At the press conference launching the startup contest
The competition, launched by the Central Committee of the Ho Chi Minh Communist Youth Union (HCYU) in Hanoi on June 15, with the attendance of Permanent Secretary of the Union, President of the Vietnam Youth Federation, Nguyen Anh Tuan.
The contest was organized by the Rural Youth Department, the Centre for Business Research and Enterprise Support (BSA), and the Center for Rural Youth Development to build a startup ecosystem in the agriculture sector.
At the press conference, Mr. Nguyen Anh Tuan said that after 2 years, the contest is getting more and more complete in terms of method, content, evaluation criteria, and idea.
This year, the contest focuses on projects that are feasible, creative, diffusing, and leading. Also, the organizers are constantly supporting the contestants and their projects from the beginning of building ideas to awarding and after awarding.
Mr. Nguyen Anh Tuan chaired the press conference
The contest will be held from June to October, consisting of three rounds. In the first round, participants across the country must submit their ideas. A total of 120 candidates will be selected for the second round. The contest is held for the young aged 18-35 who have ideas and proposals on production and business in cultivation, husbandry, aquaculture, forestry, salt production, preservation and processing industry, craft villages, agricultural equipment, and agricultural tourism, community-based tourism, information technology serving production and consumption of agricultural products.
In the second round, candidates will be supported to finalize ideas and build projects. Candidates selected for round 2 will be guided to develop business projects ( about human resource management, investment, negotiation, financial management). Moreover, they will be trained in the innovation and development of indigenous products and presentation skills …
The 30 best projects will be chosen for the nationwide final where the candidates have to keep completing the economic model initiative project and submit it to the contest organizers before October 15. The prize for winners will be award at the end of October.
Assistance loan of 200 million VND (8.600 USD) to 1 billion VND (43.000 USD) for the good projects
There are 1 winner, 2 first runners-up, 3 second runners-up, 3 consolation prizes, and auxiliary prizes. Each award includes a certificate from the Central Committee of the Ho Chi Minh Communist Youth Union. The winner will pocket 50 million VND and receive the capital support up to 1 billion VND from the National Fund for employment, while the first runners-up will receive 30 million VND each and the capital support up to 500 million VND from the National Fund for employment. Three third prizes worth 15 million VND each and the capital support up to 300 million VND from the National Fund for employment.
And three consolation prizes worth 10 million VND each and are supported with the capital up to 200 million VND from the National Fund for employment.
Organizing committee informed about the contest at the press conference
The organizing committee said that the contest for rural youngsters in 2020 will create opportunities for rural youngsters to learn basic knowledge about starting a business and building production and business plans. Also, It’s a chance for youngsters to experience and learn lessons.
The competition will be opportunities for businesses in the agricultural sector to approach and timely seize creative ideas, potential business models, from which they can attract investment, expand production, diversify industries. It is also a good event for businesses to find and attract high-quality human resources, create linkages and formulate value chains.
The rural youth department had organized similar contests in 2018 and 2019, attracting 404 ideas in total. From these events, 20 candidates had been supported to access loans amounting to over 4 billion VND from the national fund on employment, while 62 others have a chance to join business classes worth 830 million VND. There were 13 candidates were given gifts comprising agricultural tools.
Besides, many candidates have received the support of the Party Committee and local authorities. Their products from the contest were propagated and advertised in the newspapers in the local area and the city Center.
Candidates are allowed to participate and speak at many startup forums, thereby contributing to promoting products and brands. Moreover, many products are branded and stand firm in domestic and foreign markets.
According to the Central Committee of the Ho Chi Minh Communist Youth Union