2017 U.S. Ambassador’s Entrepreneurship Challenge

The U.S. Mission to Vietnam is pleased to announce the 2017 U.S. Ambassador’s Entrepreneurship Challenge (AEC), the second annual entrepreneurial competition to encourage innovation and development of Vietnam’s entrepreneurial ecosystem. Citizens of Vietnam are invited to apply to compete for exposure, mentorship, and financial support in this national competition.

Startup Categories: The AEC is open to startups in one of three categories:

• Idea and Prototyping Stage
• Startup Stage
• Social Entrepreneur (in either Idea or Startup Stages)

(See definition at the end of this post.)

Prizes and Benefits

Regional winners will receive mentorship and training from investors, incubators, and CEOs to help prepare for the final round of the national competition. The U.S. Mission will sponsor ONE representative from each team winning the Regional Competitions to participate in the National Competition in Hanoi.

• $1,000 for 1st Prize, $750 for 2nd Prize, and $500 for 3rd Prize
• Leader of the first prize winning (team) will receive a $5,000-scholarship from Vietnam Executive Master of Business Administration (VEMBA), Shidler College of Business, University of Hawaii for: (i) scholarship towards a MBA degree, or (ii) taking three courses within six months
• Training, mentorship, and network opportunities
• Pitch to potential investors
• Publicity and exposure that will help to market your project.

Application

• WHO? Vietnamese nationals, currently living in Vietnam
• WHEN? Application deadline is April 16, 2017
• HOW? Apply online at http://goo.gl/lwe6BS

Timeline

• Sunday, April 16, 2017: Application deadline
• Mid-May: First Round Competition
• Mid-May to mid-June 2017: First round winners receive virtual training and mentorship
• June 19, 2017: First round winners receive in-person training
• June 20, 2017: Final competition in Hanoi

Definitions

• Idea and Prototyping Stage
  The entrepreneur has research or a technology with commercialization potential.
  The entrepreneur has not started a business yet and is willing to start a business.
  The entrepreneur has defined the qualifications of a management team needed to execute the idea.
  The entrepreneur has started to identify advisors.
  The entrepreneur has started market research.
• Startup Stage
  The venture is for profit.
  The venture is less than three years old from date of startup.
  The venture has some funding already—either through revenue, through external financing (from public or private sources), or a combination of both.
  The venture has a product or service that is currently in a testing or pilot stage and that can be made available for commercial
• Social Entrepreneur (in either Idea or Startup Stages)
  The startup drives social innovation and transformation in various fields including education, health, environment, culture or enterprise development.
  The startup pursues poverty alleviation goals with entrepreneurial zeal, business methods, and the courage to innovate and challenge traditional practices.
  The startup builds strong and sustainable organizations, which are either set up as not-for-profits or companies.