The GOLIVE! Vietnam Venture Cup, a sponsorship vehicle for Samsung's Note 5, includes partners IDG Ventures, YMG entertainment and Media Group, Forbes Vietnam, LaunchPad and Topica EdTech Group. The effort follows Samsung's launch of the ‘Success with an attitude’ campaign for the Galaxy Note 5 in mid-August.
Conceived by Leo Burnett Vietnam’s digital team, the purpose of the initiative is "to elevate people’s existing businesses or their future dream business," according to the agency. Leo Burnett Vietnam also developed the digital platform and communications across social, PR and innovation communities, we well as online video content.
The competition unfolds over four phases, with the top 40 shortlist slated for reveal yesterday. Seminars and coaching for the 40 shortlisted teams will take place before concluding with the final event and announcement of winner on 22 December.
The winning team will be given the chance to launch its own company with US$15,000 startup funding provided by venture-capital firm IDG Ventures together with a special “success with attitude award” presented by Samsung Note 5.
Lukasz Roszczyc, managing director of Leo Burnett Vietnam, said the agency strongly believes that creativity is the biggest competitive advantage in business today.
“We are excited to be a connector and a facilitator for the world’s biggest brands, the local venture community and the creative people developing their start-up ideas,” he added in a release.
The initiative aims to take advantage of Vietnam’s burgeoning and dynamic startup scene. In the past two years, the country has been on the radar of many foreign venture-capital funds in Southeast Asia.
Duc Bui of EzCloud company, an online hotel booking and management system developer that is participating in Venture Cup, said it is one of the very first contests for both startups and existing businesses in Vietnam looking for more investment. “I think it’s good for country’s future entrepreneurs,” he added.
Another participant, Hung Tran of JoinHandmade, which produces handmade organic and fashionable earphones, said this is the first contest for the team. “We started our company a year ago, but we are still lacking experience," he said. "We hope that through the contest we will have chance to learn more, and step into the community of Vietnam’s young entrepreneurs,” he added.
A promotional video for the Venture Cup: