In collaboration with local nonprofit Northwest Development Cooperation Center and Youth Union of Lao Cai and Hoa Binh provinces we launched a competition titled Business Initiative Challenge in late March 2021 to inspire and encourage ethnic minority youth – especially young women – to develop and implement start-up initiatives locally.
As part of the EU-funded Increasing Access to Livelihood Opportunities for Ethnic Minorities through Promoting Career Development and Entrepreneurship Initiatives project, the competition aims to promote and grow an entrepreneurial spirit among ethnic minority youth across the country and provide opportunities for business training. While Vietnam’s ethnic minority groups account for just 15% of the country’s total population, they represent 73% of the country’s poorest population with their remote geographic location often acting as a barrier to accessing quality education (WorldBank, 2020).
The competition is open to individuals or groups of no more than three people (with the group leader belonging to an ethnic minority group) aged 16-30, living and working in four of Vietnam’s most rural provinces – Hoa Binh, Lao Cai, Cao Bang and Lai Chau. Participants must either submit a start-up initiative which as not been implemented yet or a household or cooperative group small or medium-sized enterprise that has been in operation for less than three years. Business idea submissions should be consistent with local orientations and goals of development as well as contributing to solve local socio-economic and environmental problems.
The competition will take place from March to August 2021 with three rounds of evaluations. The winning projects will receive financial support for implementation and awards will include five golden prizes and two impressive prizes. Winners will also have the opportunity to participate in AEA Business Incubator project – a project providing training opportunities in the building and operating of a startup, consulting and support from project experts, links to business networks, associations, and business communities to improve business development opportunities.
The detailed rules and Registration form of the Competition can be downloaded here.
ORGANIZING COMMITTEE OF BUSINESS INITIATIVE CHALLENGE COMPETITION
Aide et Action Vietnam
Floor 2nd, VNCC Building, 243 De La Thanh Street, Dong Da, Hanoi
Event page: http://tiny.cc/ThachThucSangKienKD
Phone number: +84 243 726 5537 (Request to meet Ms. Do Tra My)