|A start-up contest for rural youths was launched by the Central Committee of the Hồ Chí Minh Communist Youth Union (HCYU) in Hà Nội on Monday. — Photo doanthanhnien.vn|
HÀ NỘI — The national fund for employment loans will provide VNĐ2 billion (US$87,000) of loans to be distributed among the winners of an ongoing start-up contest for rural youths this year.
The competition, launched by the Central Committee of the Hồ Chí Minh Communist Youth Union (HCYU) in Hà Nội on Monday, consists of three rounds.
Young people aged from 18 to 35 who want to set up agricultural businesses in crop cultivation, animal husbandry, fishery, forestry, salt making, processing and preservation industry, and agro-tourism, among others, are eligible to enter.
In the first round, participants must submit their ideas to the HCYU’s rural youth department at the address of No 62 Bà Triệu Street in Hà Nội or the email address email@example.com.
A total of 120 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 best projects will be chosen for the nationwide final where the candidates have to present their ideas in front of a jury and investors.
HCYU will support the winners of the contest to get loans to implement their start-ups, up to VNĐ1 billion for the first prize, VNĐ500 million, VNĐ300 million and VNĐ200 million for the second, third and consolation prizes respectively.
The first prize winner will pocket VNĐ50 million, while two second prize winners will receive VNĐ30 million each. There are three third prizes worth VNĐ15 million each and three consolation prizes worth VNĐ10 million each.
The rural youth department organised similar contests in 2018 and 2019, attracting 404 ideas in total. From these events, 20 candidates were supported to access loans amounting to more than VNĐ4 billion from the national fund on employment, while 62 others had the chance to join business classes worth VNĐ830 million. — VNS