On September 19, 2024, in Da Nang City, within the framework of the “National Conference on Energy and Conservation 2024,” the Ministry of Industry and Trade (MOIT) and the Global Green Growth Institute (GGGI) launched the competition “Accelerating Innovative Startups for Energy Efficiency Competition”.

Attendees of the launch event included Ms. Nguyen Thi Lam Giang, Director of the Department of Energy Efficiency and Sustainable Development (MOIT); Mr. Nguyen Van Tru, Deputy Director of Da Nang City’s Department of Industry and Trade; Mr. Juhern Kim, GGGI’s Country Representative in Vietnam; Mr. Vo Quang Lam, Deputy General Director of Vietnam Electricity (EVN); and Mr. Tran Nhat Khanh, Managing Director of Touchstone Partners Investment Fund, the direct consulting entity implementing the competition. Also in attendance were representatives from MOIT, related ministries, departments, provincial Departments of Industry and Trade, Energy Efficiency Centers, students from several universities and colleges in Hue and Da Nang, development partners, investors, and startup enterprises in the energy efficiency sector.

The competition is part of the “Accelerating Innovation for Startups in Energy Efficiency” (AIS4EE) project under the Vietnam-EU Sustainable Energy Transition Program (SETP), which is funded by the European Union for MOIT. GGGI, an intergovernmental organization established to promote global green growth, co-funds and implements the AIS4EE project.

This competition is designed as an accelerator program specifically for the energy efficiency sector, and it is the first time such a competition has been held in Vietnam. The aim is to attract investment into innovative solutions for energy saving and efficiency in the industrial, transportation, and construction sectors in Vietnam. Target participants include startup enterprises and groups of students.

The competition is structured for two participant groups and will be implemented simultaneously. The first group is for startup companies at the pre-seed to seed stage that are registered in Vietnam or foreign companies with business plans in Vietnam. These companies must have a minimum viable product focused on energy-efficient solutions for industries, construction, and transportation. The second group is for students aged 15 to 25 with ideas for energy-efficient solutions in the industrial, construction, and transportation sectors, tailored to the Vietnamese context.

It is expected that up to 30 of the best teams (15 startups and 15 student groups) will be selected to participate in a 9-week training program, led by experts and advisors in the fields of startups and energy. The total prize value of the competition is up to $35,000 for startup teams and $10,000 for student groups. Additionally, teams will have the opportunity to participate in funding rounds with domestic and international venture capital funds, including investment of up to $1 million from Touchstone Partners and potential investments from partner funds.
The competition officially began accepting online applications on August 6, 2024, at https://ais4ee.vn. The application deadline is 9:00 AM on September 25, 2024 (Vietnam time). Detailed information and participation rules can be found at https://ais4ee.vn. For any inquiries, please contact the competition organizers via email at info@ais4ee.vn.

The Vietnam National Energy Efficiency Programme for the period 2019–2030 (VNEEP3) aims to save 5–7% of total national energy consumption for the period 2019–2025 and 8–10% for the period 2019–2030. By promoting investment and innovative startups in energy efficiency in the industrial, construction, and transportation sectors, the competition will contribute significantly to achieving the goals of VNEEP3 and Vietnam’s commitments to addressing global climate change.