Start-up does not only stop at ... ideas
Updated : Saturday, November 03, 2018 2:05 PM (GMT+0700)

Phu Yen 2018 Start-up idea contest has been officially closedwith the first prize belonging to the project iNut Platform – the Internet ofThings eco-system by Ngo Huynh Ngoc Khanh, Do Vinh Phu and Pham Huynh Khanh.The 10 remaining projects in the final round also brought their own colors,expressing spirit and aspirations of young people.

Authors of Ngo Huynh Ngoc Khanh and Doan Vinh Phu talking to an audience interested
in products of the project iNut Platform - Internet of Things ecosystem

Knowing that theliving standard of rural people are low and their income is mainly based onconventional agricultural production and small-scale husbandry, authors from AnPhu commune (Tuy Hoa city) have implemented the Natural Recycling Plant project.

"Itspurpose is to recycle organic waste (cow dung) for raising worm to bring moreincome to people and improve the living environment. So far, we have basicallycompleted production process, launching products of vermicompost and worn fluidto the market, consigning them at two agents in Binh Kien commune, Tuy Hoa city",said Mr. Phan Xuan Danh, one of authors.

Not only thesetwo projects but most of projects participating in the Phu Yen Start-up ideacontest in 2018 are derived from real life. These are projects meetingconsumers’ need of clean food (“Dan que” Food, Aquaponics system combined IoTof growing vegetables and raising fish), projects exploiting potential of tourismdevelopment in the locality (An Hiep horse hooves, Youth Travel, Pineapple wineand Song Hinh dried beef), project of technology platform to make IoTprogramming easier and more convenient (iNut Platform - Internet of Things ecosystem)and etc.

Phu Yen Start-upidea contest in 2018 was organized by the provincial Vietnam Youth federation andPhu Yen Young Entrepreneurs' Association, attracting 33 projects of Phu Yenyoung authors studying and working in and out of the province.

Through two preliminaryrounds and semi-final, the Contest Organizing board selected 11 projects forthe final round. During 7 months from start to end (from April to October of2018), many projects have been implemented in practice, not just stopping atideas; others are implemented before entering the contest.

Mr. Doan VinhPhu, co-author of the project iNut Platform - Internet of Things ecosystem, letsknown: The group has established company and sell products to the market. After2 months of operation, we have accessed to customers in sectors of bird nestand mushroom with the turnover of more than 400 million dongs. After that, manycustomers in other sectors also came to iNut Platform to solve their problemsthrough IoT technology. In addition, we have also called for an investor tocontribute capital to develop the company.

Evaluating the projectsin the final round, Dr. Pham Van Hai, Vice Chairman of the Directors’ Board cumVice Rector of Pacific University, a member of the jury, lets known: Among 11projects in the final round, some have new ideas which are closely withsituation in the Central region and in Phu Yen.

The authors havestudied about their products in detail and competent of setting up business.However, before doing that, they have to calculate and re-consider some issuesthat the jury criticized and suggested in order for start-up to be favorableand minimize risks.

Source: Phu Yen Newspaper

Translated by KHUONG THAO

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