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SCIENCE & TECH
May 20, 2019 / 15:02

Vietnamese startup wins US$1 million at world competition

Tuan Minh

The Startup World Cup is organized by Fenox Venture Capital, with the participation of experts who are longtime investors from Silicon Valley and start-up businesses around the world.

Vietnamese startup Abivin, which provides AI-powered Supply Chain Optimization, has become the winner of the Startup World Cup 2019 Champion with US$1 million worth of prize as an investment, local media reported.
 
Abivin is expected to expand its market to countries like Myanmar, Singapore, Thailand and Indonesia. Photo: Techfest Vietnam
Abivin is expected to expand its market to countries like Myanmar, Singapore, Thailand and Indonesia. Photo: Techfest Vietnam
Vietnam’s Ministry of Science and Technology said that Abivin, the only representative of Vietnam, beat candidates from more than 40 countries across the world such as Japan, the USA, Canada, Brazil, India, China, Singapore and South Korea. This shows the value of Vietnamese startup’s products in the international arena. 
 
Abivin, which supplies the management application for transport optimization chain, won the first prize at the Vietnam Innovative Technopreneur Contest held in December 2018 and represented Vietnam at the Startup World Cup 2019 Champion.

Abivin is trained by the Finland – Vietnam Innovation Partnership Program Phase 2 (IPP2), which is run by Vietnam’s Ministry of Science and Technology.

Abivin provides software that can create an optimal routing plan in just a few seconds, while maximizing vehicle capacity and saving 40% of labor and fuel costs.

Abivin’s founder Pham Nam Long said that the startup intends to use the investment prize to keep boosting R&D for its AI-powered logistics optimization solutions and expanding its foreign markets to Myanmar, Singapore, Thailand and Indonesia.

The Startup World Cup is organized by Fenox Venture Capital, with the participation of experts who are longtime investors from Silicon Valley and start-up businesses around the world. The program collaborates with prestigious competitions of more than 40 countries each year and organizes its finale in the United States.

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