The launching event of Viet Solutions 2020 on July 8 (Photo: VNA)

Only 28 percent were submitted by constestants in Vietnam, with the remainder coming from Peru, Cambodia, Myanmar, Tanzania, Mozambique, Timor Leste, Haiti, Burundi, Laos, and Cameroon.

Nearly 70 percent provide solutions in areas Vietnam sees as key to developing the national digital economy, such as transport and logistics, agriculture, education, finance and banking, healthcare, and energy. Most notable are solutions applying the Internet of Things (IoT) in agriculture, as well as e-learning platforms, blockchain payment systems, ride-hailing apps, and e-wallets.

The contest was organised by the Ministry of Information and Communications (MIC) and the Viettel Group to seek innovative technology products or solutions that can integrate into social industries in the national digital transformation programme.

The competition is open to people around the world. Candidates will be connected with potential partners and attend training to improve their financial management skills and marketing to seek investment.

This is the first time the country’s IT industry has organised an annual contest such as this.

The winning team will receive a cash prize of 200 million VND (8,595 USD), while second and third place will receive 100 million VND and 50 million VND, respectively.

They also have the opportunity to sign business cooperation contracts with Viettel and enjoy profit-sharing of up to 75 percent.

Viettel also pledged to cover all the expenses of the three winning teams to participate in the C1 Start-up Cup competition in the US, which has a total prize pool of 50,000 USD, or to attend the World Mobile Conference (MWC) 2021 in Barcelona.

Submissions can be sent online to vietsolutions.net.vn until close of business on September 25./.VNA