Vietnamese Firms Invited to Showcase Innovative, Clean-Tech Solutions to Combat Climate Change

HANOI, VIET NAM – Vietnamese startups and small- and medium-sized enterprises (SMEs) in clean energy and climate technology sectors are invited to submit their business ideas in a contest organized by the soon-to-be-launched Vietnam Climate Innovation Center (Vietnam CIC).

Viet Nam, with rising sea levels, fluctuating rainfall, and destructive typhoons, is among the countries most vulnerable to the effects of climate change.

Local climate technology innovations and solutions would enable Viet Nam to adapt to climate change, mitigate emissions, meet energy needs, boost productivity, maintain competitiveness, and minimize dependence on fossil fuel imports.

In anticipation of the launch of the Vietnam CIC in the second half of 2014, the Asian Development Bank, infoDev, and the World Bank Group are organizing a Proof of Concept competition to identify emerging entrepreneurs who can become future Vietnam CIC clients.

Successful applicants of the competition will become eligible for grant funding up to VND 1,000,000,000 to develop, launch and/or scale up a product or a service; and access to the Vietnam CIC program and its full range of advisory services (training, mentorship, facilities and access to finance).

Successful applicants will also have the opportunity to showcase their innovative concepts at the official Vietnam CIC launch and related media events.

Through its programs, activities and financing, the Vietnam CIC and its network of partners will provide a regionally driven approach to solving climate, energy and resource challenges and support economic development through job creation. Specifically, the Vietnam CIC will support the local entrepreneurs through a suite of business services, including business advisory services to commer­cialize appropriate technologies; access to finance; policy advisory services; and access to technology and market infor­mation.

The Vietnam CIC is part of infoDev’s Climate Technology Program, which is creating a global network of CICs. Part of the World Bank Group, the program supports SMEs and emerging entrepreneurs who are developing locally-driven innovative products and new business models in the climate technology sector. With CICs already operational in Kenya, the Caribbean, and Ethiopia, the Vietnam CIC will be the first in Asia.

The Vietnam CIC is supported by the UK Department for International Development and the Australian Department of Foreign Affairs and Trade.

For more information on the Proof of Concept competition in Viet Nam visit www.vietnamcic.org.