HCM CITY — Nearly 500 CEOs, business owners, investors and economic experts participated in the final pitch at the Swiss Innovation Challenge Việt Nam event with 21 teams competing yesterday in HCM City.

Three winning teams will receive prize money totaling US$28,000, including US$15,000 in cash for the first prize, US$5,000 for the second, and US$3,000 for the third.

In addition, a special prize worth US$5,000 will be awarded to a project with the most convincing internationalisation strategy.

The winner of the Challenge event will represent Việt Nam in the final international competition to be held in Switzerland next month.

The 21 teams beat 180 other teams through three stages of the nine-month programme, which offered training modules in entrepreneurship and innovation, coaching and mentoring modules, networking events and access to an impressive network in the innovation and entrepreneurship communities.

The Swiss Innovation Challenge Việt Nam, co-organised by the HCM City University of Technology and University of Applied Sciences and Arts Northwestern Switzerland, is a unique promotion programme with an integrated innovation competition for established businesses and for projects at the ideation, conceptualisation or start-up stages.

The University of Applied Sciences and Arts Northwestern Switzerland in partnership with leading local universities have held Swiss Innovation Asia events with similar competitions in Indonesia, Malaysia, Thailand and Việt Nam. —VNS