Finnovation 2022: The first national competition for FinTech startups in Vietnam

On September 15, 2022, the Final Round and Award Gala of the Finnovation 2022 Financial Technology Student Startup Competition took place successfully at Tran Chi Dao Hall, VNU-HCM City Administration Building. 

Finnovation is the first and largest national competition on innovative startups in the field of financial technology (FinTech) for students. The competition is directed and organized by the Ministry of Science and Technology, the Central Committee of the Ho Chi Minh Communist Youth Union, Vietnam National University, Hanoi, Vietnam National University, Ho Chi Minh City, the Department of Science and Technology Entrepreneurship and Market Development, the Center for Student Support and Development (Vietnam Student Association), the Youth Union of the Ministry of Science and Technology, the Youth Union of Vietnam National University, Hanoi, and the Executive Committee of the Youth Union of Vietnam National University, Ho Chi Minh City. The program is organized periodically and aims to popularize and raise social awareness of innovation and intellectual property in the field of financial technology and digital transformation.

The Organizing Committee and the Jury received souvenir flowers at the Final Gala.

The competition has attracted a large number of students with many potential and innovative startup projects in the field of financial technology. Specifically, after a 5-month journey (taking place from April 18, 2022 to September 15, 2022) with 20 diverse and exciting activities, the competition has attracted nearly 100 projects selected for round 1, 30 projects for round 2 and 10 projects for the final round. 

In the Final Round, with a highly creative breakthrough idea, Zinance team excelled over the other four teams to win the Champion position. The runner-up position belonged to the two teams WeShare and Mediaverse.. Govo and Faunaverse teams tied for first place. 

Finnovation 2022 Competition Awards Ceremony.

The prize for the Champion of Finnovation 2022 is 50 million VND in cash. The runner-up receives 25 million VND and the champion 15 million VND. In addition, many cash and in-kind prizes from sponsors with a total value of nearly 400 million VND will also be awarded to the best projects of the competition. In addition to bonuses and gifts, all 5 projects of the Top 5 will receive certificates of merit from the Central Committee of the Vietnam Student Association and certificates from the Organizing Committee of the competition. More specifically, the Top 5 will be guided and facilitated to participate in national capital calling programs from domestic and international markets. The Top 5 will also be supported with shared offices, booths and banners in the national startup and innovation ecosystem (Innovation247, Techfest247, NSSC, Sihub, Startup247.org, etc.).

The Organizing Committee awarded certificates to the excellent teams in the Final round. 

Accompanying the competition as a judge, Mr. Nguyen Chi Cong - Director of FundGo Creative Startup Investment Fund Management Company highly appreciated the meaning and value that Finnovation 2022 brings. Mr. Nguyen Chi Cong affirmed: “Finnovation 2022 was a success. received the attention and enthusiastic response of students nationwide, especially the startup community. Regarding the teams present in the final round, I personally appreciate the courage and efforts of each team. Although you are still quite young, it cannot be denied that you have a quite profound and correct view of the startup market. The competitions have presented innovative and creative solutions that are promising and can develop breakthroughs in the future. However, the path from ideas, projects to actual products is still full of thorns, requiring perseverance and constant effort. With its resources, FundGo is ready to support for students on the path to realizing their ideas and initiatives, contributing to nurturing more talents for the country."

Mr. Nguyen Chi Cong - Director of Fund Management Company accompanied Finnovation as a Judge. 

Finnovation 2022 has ended with many outstanding achievements and marks. The competition has successfully created a useful playground for technology and finance for students across the country. Through the program, the young generation is somewhat encouraged to have a passion for learning, research, and quickly integrating with new global trends.