HCMC – Qualcomm Technologies Inc., a subsidiary of Qualcomm Incorporated, has revealed the top three finalists of the third Qualcomm Vietnam Innovation Challenge (QVIC), a program dedicated to supporting startups in promising new technology sectors.
RYNAN Technologies JSC., with its smart insect monitoring system, claimed the first prize. XB Technology Company Limited secured the second position with its drone delivery system based on cellular network connectivity. The third-place winner was Benkon Corp., a company specializing in energy-saving solutions for air conditioners.
A representative of RYNAN Technologies JSC. (C, front row) is honored as winner of the Qualcomm Vietnam Innovation Challenge 2023 – PHOTO: COURTESY OF QUALCOMM
The program awarded US$100,000 to the winner, US$75,000 to the runner-up, and US$50,000 to the second runner-up.
Throughout the program, these finalists, along with seven other shortlisted companies, engaged in a competitive process aimed at enhancing their technology innovations and product offerings. This process unfolded over several stages of the QVIC program, including the application phase, shortlist announcement, incubation period, and grand finale.
This year’s program received the highest number of applicants in its history, with 141 companies from across the nation applying online between October 2022 and January 2023.
Upon completing the program, QVIC participants will become members of Qualcomm Technologies’ global network and gain opportunities to participate in trade shows, customer meetings, and other events.
During the incubation period, Qualcomm Technologies provided shortlisted companies with workshops and training in intellectual property, as well as entrepreneurship skill development. The activities covered a broad range of topics such as customer discovery, business modeling, financial planning and budgeting, fundraising, branding, and pitching skills.
Participants also received technical support related to their innovations submitted for consideration in QVIC 2023, including access to Qualcomm Vietnam’s lab in Hanoi and consulting on product development during the incubation period.
In addition, shortlisted startups received grants of up to US$10,000 to support their product development during QVIC 2023, along with reimbursements of up to US$5,000 for filing a maximum of two patent applications.
First launched in 2019, QVIC aims to encourage the development of the emerging technology ecosystem in Vietnam with the support of the Ministry of Science and Technology.
Utilizing Qualcomm Technologies’ cutting-edge mobile platforms and technologies, the program identifies and nurtures innovative small and medium-sized companies operating in key technology areas such as 5G, Internet of Things (IoT), robotics and drones, artificial intelligence (AI), smart cities, wearable devices, and multimedia technologies.