HCMC University of Technology’s students become champions of GBA Business Challenge, 4th season

The winners impressed the judges with their idea that brings benefits to the environment and highlights the Vietnamese identity “ENSOVER: Sustainable Water Hyacinth Paper”.

The German Business Association is dedicated to nurturing Vietnam’s young talent and transforming their innovative business ideas into reality through its annual start-up competition, the “GBA Business Challenge”.

The organization successfully hosted the final pitch event of the GBA Business Challenge—Season IV on Monday, November 6, 2023, at the Sofitel Saigon Plaza. The event drew the attention of 80 participants, including members of the German business community, university professors, and entrepreneurs.

The GBA Business Challenge, which the GBA launched in 2020, aims to support local young talent with promising, forward-thinking ideas by assisting them in turning their visions into workable businesses. The competition provides participants with entrepreneurial tools, real-life business experience, and a starting fund.

The first three editions were highly successful, attracting over 200 diverse business concepts with the potential to positively impact society, the environment, and people in the long term.

This year’s competition theme focused on addressing issues related to social, environmental, or sustainable development. Out of 50 startups that underwent a rigorous 6-month training and evaluation process, five teams from various universities across Vietnam reached the top ranks of the competition. They presented their innovative solutions to a panel of judges, competing for a prize of VND350 million and a 12-month coaching program.

German Business Association is dedicated to nurturing Vietnam’s young talent, transforming their innovative business ideas into reality through its annual start-up competition. Photo: GBA

The coaching program is facilitated by experienced leaders and experts from the German business community in Vietnam, in collaboration with professors from the Vietnamese-Germany University (VGU) and The German Academy Exchange Agency (DAAD).

The victorious team from the Ho Chi Minh City University of Technology distinguished themselves with their practical business idea, “ENSOVER: Sustainable Water Hyacinth Paper”. The initiative transforms the invasive water hyacinth into high-quality paper, turning an environmental issue into a sustainable solution.

Embodying the motto “From Waste to Great”, the champion aims to highlight Vietnamese identity through innovative solutions to local environmental challenges, foster national pride, and showcase Vietnamese ingenuity. This effort reflects Vietnam’s commitment to sustainability and resilience.

The “AGROWISE” team, comprising students from the Danang University of Economics and Vietnam-Korea University of Information and Communication Technology, clinched the first runner-up spot with their persuasive business ideas centered on “Internet of Things” (IoT) technology.

This empowers farmers to yield abundant crops while conserving valuable natural resources. The MEDIFIND team, from the University of Economic Ho Chi Minh City and the Ho Chi Minh City University of Technology, secured the second runner-up position.

They offer a comprehensive app that ensures the safe usage of antibiotics by meticulously analyzing ingredient lists and providing decisive advice and warnings.

“As a business association, the German Business Association believes that it can make a more sustainable impact by encouraging and mentoring business. The GBA Business Challenge is an effort of the GBA to create and support new start-ups, which later can create jobs, income as well as contribute to the economic development of Vietnam in the long term,” Tuan Vi, GBA Board member – Sector Committee member of the “GBA Business Challenge” stated.

Through this initiative, GBA also want to create a connection between the German business values and Vietnamese entrepreneurship spirit that might open many cooperation and business opportunities in the future, he added.

“Participating in the GBA Business Challenge provided us not only with financial support and a capacity-building program, but also a chance to challenge ourselves, grow our confidence, and enhance soft skills such as presentation and pitching in English, logical and critical thinking, and project management,” a representative of the champion team of the GBA Business Challenge – Season IV, ENSOVER, expressed.

The German Business Association is the voice and advocate of German businesses in Vietnam, fostering bilateral socio-economic relations between the two countries. The GBA is one of the longest established business associations and a founding member of EuroCham Vietnam.

Over the period of 25 years, the GBA has been the center point of German business life, culture, and values in Vietnam. The GBA currently represents more than three hundred corporations and works for the best possible market environment and conditions for member companies in Vietnam.