Hawking Instamo – B2B, an application developed by a Vietnamese startup, won the first prize worth US$5,000 at the Demoday competition in the frame work of Fintech Startup Vietnam - Fintech Summit 2019 held on September 25, local media reported.The app was regarded as the fastest, most convenient and economical direct payment application.
Hawking Instamo wins US$5,000 at Fintech Summit 2019. Photo: Khac Kien
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The third prize worth US$1,000 was given to Finbox. Two potential incentive prizes worth US$500 each went to F2B and Wicare.
After a signing ceremony between Vietnam Sillicon Valley Investment Fund (VSV) and Welcome Financial Group (South Korea) to support Fintech startups, 11 teams were selected from nearly 100 resumes submitted to the Demoday competition.
Each team had five minutes for presentation and other five minutes for question-answer session in front of representatives of the groups in the fields of finance, technology, consumption and capital fund at home and abroad.
The startup with the most promising business technology model, which has the best presentation, received US$10,000 in cash and then discussed with banks about cooperation opportunities and negotiated directly with reputable investment funds.
According to Pham Hong Quat, director of the Market and Enterprise Development Department under the Ministry of Science and Technology, his ministry has always stood side by side with organizations to support and build a startup ecosystem, so that Vietnamese startups can reach out globally.
The Ministry of Science and Technology is working with the relevant agencies to propose to the Vietnamese government test regulations (sandbox) that are suitable for piloting the new policies to promote Vietnamese startups as well as investors in this field, Quat said.
