“Net Zero Challenge” with total prize of 15 billion VND

SGGPO 08/21/2023 16:25

Today, August 21, in Ho Chi Minh City, Touchstone Partners Fund and Temasek Foundation (a non-profit organization under Temasek, Singapore) in collaboration with the Ho Chi Minh City Institute for Development Studies (HIDS) launched the "Net Zero Challenge" competition to seek technological solutions to combat climate change.

Vice Chairman of Ho Chi Minh City People's Committee Vo Van Hoan and delegates launched the contest

At the launching ceremony of the contest, Vice Chairman of the Ho Chi Minh City People's Committee Vo Van Hoan highly appreciated the significance of the contest and expected that the contest would be an opportunity for entrepreneurs and innovative enterprises in the green economy sector that have available products to participate, in order to solve problems and minimize negative impacts from climate change; support pilot enterprises to deploy solutions in Vietnam, promote to the world and connect with investors.

Vice Chairman of Ho Chi Minh City People's Committee Vo Van Hoan spoke at the contest launching ceremony.

“Ho Chi Minh City is the largest economic and industrial center of Vietnam. Along with its development, Ho Chi Minh City is taking the lead in assessing emissions, seeking solutions and developing plans to contribute to implementing Vietnam's commitments at the United Nations Climate Change Conference 2021 (COP26). Implementing the commitment will pose many challenges but also bring many opportunities, especially when capturing the green shift trend in the world and Vietnam. In that context, the city's shift to a green economy and green growth is not only an inevitable choice but also an opportunity to catch up with the world's development trend,” said Vice Chairman of Ho Chi Minh City People's Committee Vo Van Hoan.

The Net Zero Challenge aims to identify and support early-stage climate change technologies that have the potential to address large-scale environmental challenges. The competition focuses on three key issues: Renewable Energy and Carbon Neutrality; Sustainable Food Systems and Agriculture; Circular Economy and Waste Management.

Participating teams will have the opportunity to receive a total prize of VND15 billion (US$630,000) to pilot climate change solutions in Vietnam, as well as access to investment funds, corporate partners, policymakers and climate change alliances, along with many other incentives and benefits.

The Organizing Committee representative announced the competition.

The application period for the competition is from August 21 to October 15, 2023. The organizing committee will select the 9 best teams to participate in the final round in early December 2023. To participate in the Net Zero Challenge 2023, teams must have developed a prototype product (Minimal Viable Product MVP) with the potential to be successfully replicated or commercialized.

Teams can be startups, research teams, corporate projects, or non-profit organizations ready for a large-scale pilot project. Overseas products that have been commercialized elsewhere but want to develop strategic partnerships in Vietnam can also apply.

In partnership with Temasek Foundation, Touchstone Partners will play a key role in identifying and training the teams, and will also guide and connect the winning teams with appropriate partners to support successful large-scale pilot implementation. In addition to the organizers, the competition’s jury will also include regional corporations and investment funds that support sustainable development goals.

"For the Touchstone Partners team, the Net Zero Challenge is not just a competition, but also serves as a platform to connect technology ideas with suitable business partners. Our goal is to build a community and long-term support system for technology initiatives to address climate change in Vietnam," said Mr. Tran Nhat Khanh, Director of Touchstone Partners Fund.

Mr. Lim Hock Chuan, Program Director of Temasek Foundation, said: “We are delighted to join hands to develop the Net Zero Challenge 2023, contributing to exploiting the potential of the innovation ecosystem in Vietnam, bringing breakthrough solutions to this market, and contributing to a greener future for everyone.”

Teams participating in the Net Zero Challenge also have the opportunity to collaborate directly with leading corporate partners such as Keppel (specializing in real estate infrastructure), Loc Troi Group (with knowledge of large-scale agriculture) and Duy Tan Plastics Company (with in-depth knowledge of materials science, plastic recycling).

Source: https://www.sggp.org.vn/thach-thuc-net-zero-voi-tong-giai-thuong-15-ty-dong-post702464.html