(VOVworld) – The Ho Chi Minh Youth Union and the Vietnam Students’ Association have launched a contest on startup ideas as part a national startup campaign. Held for the first time, the competition is aimed at nurturing innovation, reform, and a start-up spirit among Vietnamese youngsters.

The launch of the national startup campaign in the campus of the Vietnam National University, Hanoi, on October 16

The first contest, entitled “Startup, Student Ideas”, was launched on October 16, in Hanoi, where economists and successful entrepreneurs provided consultation to students. Startup-related experiences, training courses, and clubs were provided to young people. Excellent ideas will be honored by the Vietnam Students’ Association and given funding to become a reality.

Nguyen Khanh Huyen, one of the hundreds of participating students, said the contest is very useful: “After the launch ceremony, some of my friends and I will immediately submit our project the contest. I look forward to starting construction tile business.”

 The Center for Support of Rural Youth of the Ho Chi Minh Youth Union created a “trading floor” for “Rural youth startup ideas”. Nguyen Quoc Van, Director of the Center, said:“The trading floor will help realize young people’s startup ideas. First of all, there will be contests to select the best ideas to receive help. The trading floor will then provide training, coordinating services and financial, legal and technical support to help launch startup projects.”

2016 is being observed as National Startup Year with government commitment to helping 2,000 new venture projects by 2025. Under the government’s plan to support innovation until 2025, 600 innovative businesses and 100 projects will be eligible for 90 million USD in funding from venture capital and M&A capital.