The US chip manufacturing giant Qualcomm has released the list of Vietnamese shortlisted startups under the Qualcomm Vietnam Innovation Challenge 2024 (QVIC).

Making its debut in December 2019, the program was organized to find and nurture Vietnamese technology startups.

The program, supported by the Ministry of Science and Technology, aims to develop a Vietnamese technological ecosystem, supporting small and medium sized companies to participate in the design of 5G, IoT, AI and smart city products.

Ten Vietnamese startups have been shortlisted, including AirCity face ID access control, CCTV-based abnormal detection; DeltaX affordable and efficient Delta Robot series; GoTrust Medipay – self-service kiosk for automate healthcare service; HSPTech anti-static real time monitoring wearable device; MET EV affordable smart E2W with AI-power battery swapping solution; Olli Technologies AI-powered operating system to bring toys to life; Palexy AI-hub transform every retail camera into a powerful BI system; Realtime Robotics the world’s first AI-based multiple camera gimbal; Vbee conversational AI platform, focused on financial industry; and VOXCool IoT-integrated cold batteries for decarbonizing the cold chain.

According to Qualcomm, the startups were chosen based on technical capability, creativity and technologies that may be granted patents. The other factors considered included conformity with national digital transformation and Vietnam’s fourth industrial revolution performance. 

The startups will receive $10,000 each to continue their projects within six months, until the projects can enter the incubation period.

The program also includes technical assistance, business practice, and training in intellectual property.

The startups will also get financial support up to $5,000 in costs for applying for patents.

The final round of the program is scheduled to be held in August, when three winners will be chosen with cash awards worth $225,000.

Thieu Phuong Nam, general director of Qualcomm Vietnam, Laos, Cambodia and Thailand, said Vietnam is an important area for nurturing innovative talent. Startups and small and medium sized businesses will play an important role in digital transformation and economic growth.

Vietnam has been applying measures to develop AI in an ambitious plan to turn the country into an innovation and AI hub in ASEAN and the world. The government has released a national strategy on research, development and use of AI to 2030.

Vietnam strives to be among the top 4 countries in ASEAN and top 50 in the world in AI research and development. It also plans to build three national big-data centers.

Thai Khang