The competition, launched by the Central Committee of the Ho Chi Minh Communist Youth Union (HCYU) in Hanoi on June 15, consists of three rounds.

Eligible candidates are young people aged from 18 to 35 who have ideas to set up their agricultural businesses in crop cultivation, animal husbandry, fishery, forestry, salt making, processing and preservation industry, and agro-tourism, among others.

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At the press conference launching the startup contest in Hanoi on June 15

In the first round, participants submit their ideas to the HCYU’s rural youth department at the address of No.62 Ba Trieu in Hanoi or the email address: sangtaokhoinghiep@gmail.com.

A total of 120 outstanding candidates will be selected for the second round where they will be trained to build a business project. All projects will have to be completed for submission prior to September 15.

The 30 most excellent projects will be chosen for the nationwide final round where the candidates have to present their ideas in front of the jury and investors.

The first prize winner will pocket VND 50 million, while two second prize winners will receive VND 30 million each. There are three third prizes worth VND 15 million each and three consolation prizes worth VND 10 million each.

The rural youth department had organized similar contests in 2018 and 2019, attracting 404 ideas in total. From these events, 20 candidates had been supported to access loans amounting to over VND 4 billion from the national fund on employment, while 62 others have a chance to join business classes worth VND 830 million.

Source: VNA