VIoT triumphs as the Champion of VietChallenge 2018 Grand Finale

Boston (April 10, 2018) – On the evening of April 7, 2018 (local time), the Grand Finale of VietChallenge 2018 took place at Wong Auditorium, Massachusetts Institute of Technology (MIT). The final round this year attracted nearly 300 guests and attendees, who came to witness six outstanding teams compete for a total prize pool of USD 50,000.

The event garnered significant attention from leaders and top experts in the fields of economics, finance, business, and especially entrepreneurship. Distinguished guests included Ambassador Phạm Quang Vinh, Ambassador Extraordinary and Plenipotentiary of Vietnam to the United States; Mr. Nguyễn Văn Thắng, Secretary of the Hanoi Youth Union; Mr. Nguyễn Duy Hưng, Chairman and CEO of Saigon Securities Inc. (SSI); Mr. Trí Trần, Co-founder of Munchery; Mr. Trần Việt Hùng, Founder of GotIt; along with many prominent entrepreneurs and investors from both Vietnam and the U.S.

The final judging panel comprised Mr. Đặng Đức Thành, Chairman and CEO of Thảo Dược Xanh; Mr. Mike Edelhart, Managing Partner at Social Starts; Mr. Vivek Soni, Managing Director at TiE Angels Boston; Mr. Tuấn Pham, Managing Director at Silicon Valley Bank; Mr. Tuyền Đỗ, Managing Director at Wells Fargo Securities; and Mr. Denny Cowger, Chief Administrative Officer at Ortholite.

During the finale, all six finalist teams presented their ideas to the panel, which included startup experts, successful entrepreneurs, investors, and executives from international and Vietnamese corporations.

After nearly four hours of intense and exciting competition, Team VIoT emerged as the Grand Champion, outperforming strong competitors Takiu, Elight, FoodAR, Urban Harvest, and VDEs. VIoT’s project applies Internet of Things (IoT) technology across urban development, agriculture, and industry. Their connected devices are linked to a central data hub, offering innovative solutions to complex information technology challenges.

About VietChallenge

VietChallenge is an annual global startup competition for Vietnamese entrepreneurs worldwide, organized by the Association of Vietnamese Students and Professionals in the United States (AVSPUS). The final round is held at the Massachusetts Institute of Technology (MIT) with a total prize value of USD 50,000.

The three founders of Team VIoT took home the Grand Prize of USD 25,000 (approximately VND 570 million). The First Runner-up, VDEs, received USD 5,000 for its event management platform connecting organizers with venues. Two Second Runner-up prizes (USD 2,000 each) were awarded to Takiu with its smart toy product for children, Elight with its online English learning platform, Urban Harvest with its green urban farming initiative, and FoodAR with its augmented reality solution helping restaurants promote dishes and enhance customer experience.

This year’s VietChallenge recorded a record-breaking number of entries, with 201 submissions from 17 countries and territories around the world.

Source: Association of Vietnamese Students and Professionals in the United States (AVSPUS)