Vietnam Innovation Challenge 2024 launched with focus on semiconductor and AI
The Vietnam Innovation Challenge 2024 was recently unveiled in Hanoi by the Ministry of Planning and Investment, the National Innovation Centre, and Meta Group, a prominent tech company from the US. This initiative, announced on March 18, aims to solicit inventive ideas from both local and international entities to foster the growth of Vietnam’s semiconductor industry.
Deputy Minister of Planning and Investment, Tran Duy Dong, highlighted Vietnam’s emergence as a key player in the semiconductor sector, owing to its strategic geographical location, advancing digital infrastructure, and a pool of young, innovative talent. Forecasts from the Southeast Asia Semiconductor Association (SEMI SEA) suggest that Vietnam’s semiconductor industry is poised to expand by more than 6% between 2022 and 2027.
Rafael Frankel, Director of Public Policy for Southeast and South Asia at Meta Group, emphasized that the Vietnam Innovation Challenge 2024 aims to cultivate an environment conducive to fostering initiatives and seizing opportunities for Vietnam’s deeper integration into the global technology landscape.
Under the theme “Innovation to Accelerate the Semiconductor Industry and AI to Go Global,” the event focuses on recognizing solutions that enhance the quality of the semiconductor value chain, particularly in design, packaging, and testing, with a strong emphasis on AI applications. The initiative also aims to facilitate collaborative efforts, attract resources, and establish partnerships to bolster Vietnamese businesses’ competitiveness within the global value chain.
Through this program, efforts will be made to raise awareness about the significance of the semiconductor and AI sectors, while also connecting Vietnamese enterprises with solutions to streamline operations, boost efficiency, and develop new products and services for enhanced competitiveness in the global market.
Running until October of this year, the Vietnam Innovation Challenge 2024 offers a total prize pool of $300,000 for selected innovative solutions. Additionally, winners will receive tailored support packages, including technical assistance for market research, access to co-working spaces and laboratories, and opportunities for market expansion and brand promotion.
