May 17, 2021

BSSC: Startup Wheel 2021 - One of the largest Startup Competitions in Southeast Asia [May 31]

  • Christine
  • Vietnam
Multiple Competition

Description

INTRODUCTION

Started in 2013, Startup Wheel (SW) is designed as a 6-month accelerator program running from March to August every year. It is one of the largest and longest run startup competitions in Southeast Asia.

Our startups are sourced worldwide, are stage-agnostic in various industries. To attract the brightest startups of all, the competition has two tracks:

  • SW Vietnam Track – Accelerating local startups for the next development phase, tractions, and fundraising.
  • SW International Track – Creating rooms for international startups expanding their business to the Vietnam market and connecting with the startup ecosystem in Southeast Asia.

We think that STARTUP is a non-stop WHEEL, it means a continuous process. Throughout “Startup Wheel”, we would like to share with startups a message “Don’t hesitate and keep moving forward like a wheel by all belief and willingness”

I. Conductors:

II. Organizer:

Business Startup Support Centre (BSSC) is one of the most prominent startup support centers in Vietnam. Established in 2010, BSSC has intensive programs for startups of all stages, including financial support; incubators and accelerators; international startup competition; and startup events.

As a non-profit organization, BSSC has been active in building and growing the startup ecosystem in Vietnam, helping and supporting more than 10,000 startups and 25,000 entrepreneurs.

III. Co – organizer:

Young Businesspeople Association of Ho Chi Minh city (YBA): Founded in 1994, the Ho Chi Minh City Young Business Association (YBA) was the first association expressly for young businesspeople in Vietnam. Its mission is to gather young entrepreneurs together to develop their business skills as well as to contribute to the development of the local and national economy.

Until now, YBA has more than 1,000 members who are holding C-level positions in their company, and the company’s annual revenue could be higher than 100 billion VND.

BOARD OF JUDGES: https://startupwheel.vn/en/board-of-judges/ 

REWARDS & PERKS: https://startupwheel.vn/en/awards/ 

COMPETITION REGULATIONS:

Eligibility for participating in SW International Track

Startup Wheel extends to all audiences with no age and nationality limit. Everyone who is currently doing or planning to do business in Vietnam is encouraged to participate in the competition.

  • Individuals/ Teams have a business model but have not established companies
  • Enterprises with an innovative business model 
  • Researchers/ Scientists possess science researches at universities that could be commercialized
  • Students/ International students with an innovative and feasible business model
  • International Startups want to explore and expand their business to the Vietnam market

The applicant have to:

  • be less than 7-year in operations;
  • be an independent company (not a subsidiary);
  • have a working beta product or service (preferable).

* Note:

  • If the statups already had the business registration certificate, please submit the scanned one to the Application Form.
  • The Candidates, who are selected in Top 50 SW International Track, are required to have a fully developed product/service or a prototype to display at the Startup Day – a 2-day exhibition event in Ho Chi Minh City, Vietnam.
  • The startups that won the previous Startup Wheel will not be allowed to join Startup Wheel 2021.

Application information

Application link: https://startupwheel.vn/vi/dang-ky

Note: A candidate could apply more than 02 startups with different products/ services

Awards, Security And Commitment

AWARD

Cash prizes will be transferred to the representative of the startup within 15 working days after the Startup Wheel Award Ceremony. The winner must be responsible for the personal income tax (PIT) and other taxes or fees related to the prize (if any) in accordance with current Vietnamese law. The organizer will proceed to collect this PIT and pay it to the state budget. This PIT is paid to the Organizer at the same time as the award.

SECURITY AND COMMITMENT

When participating in the competition, the Candidates have agreed that the Organizers will use the Candidates’ broadcast lives, interviews, photographs, records, films, and exhibition publishments and reproduce them for the news, narration, promotional purposes, television programs, advertisements, including on the website or under any forms. The organizer and its partners and all related parties are exempt from any responsibility arising from photographing, recording, filming, or publishing photos, recordings, videos from this competition.

When submitting the business plan, the brief introduction of Candidates in the business plan will be considered as a summary that can be used wildly and can be used in the relevant document of the competition. The Organizer will provide copies of business plans, pitch decks, and 2-minute pitching videos in the competition to the Board of Judges and the relevant person in charge, and request these individuals not to make any additional copies. Any acts of fraud, ethics, and law violations within the framework of the competition, the Organizer has the right to unilaterally cancel the Candidate’s right and has the right to handle according to law.

Eligibility for participating in SW Vietnam Track

Startup Wheel extends to all audiences with no age and geographical limit in Vietnam. Startups are encouraged to participate in the competition including:

  • Individuals or Teams: All individuals/teams, startup founders who are living, studying, and working, starting up in Vietnam with innovative ideas/ products/ services/ technology can participate in the competition.
  • Enterprises: The startup is an established company operating for less than 5 years, or already have products/services and existing customers are welcomed to the competition.
  • Researchers: Scientific researchers of institutes/schools have products based on scientific research, which have a high ability to commercialize in the market.
  • Students: Students have an idea/startup operating in Vietnam.

* Note:

  • If the startups already had the business registration certificate, please submit the scanned one to the email startupwheelvn@gmail.com.
  • The Candidates, who are selected in Top 60 SW Vietnam Track, are required to have a fully developed product/service or a prototype to display at the Startup Day – a 2-day exhibition event in Ho Chi Minh City, Vietnam.
  • The startups that won the first prize, second prize, and third prize in the previous Startup Wheel will not be allowed to participate in Startup Wheel 2021.
  • The startup that is an established company has to apply to the Enterprise category in the Application form.

Application information

Application link: https://startupwheel.vn/vi/dang-ky

Note: A candidate could apply more than 02 startups with different products/ services

Awards, Security And Commitment

AWARD

Cash prizes will be transferred to the representative of the startup within 15 working days after the Startup Wheel Award Ceremony. The winner must be responsible for the personal income tax (PIT) and other taxes or fees related to the prize (if any) in accordance with current Vietnamese law. The organizer will proceed to collect this PIT and pay it to the state budget. This PIT is paid to the Organizer at the same time as the award.

SECURITY AND COMMITMENT

When participating in the competition, the Candidates have agreed that the Organizers will use the Candidates’ broadcast lives, interviews, photographs, records, films, and exhibition publishments and reproduce them for the news, narration, promotional purposes, television programs, advertisements, including on the website or under any forms. The organizer and its partners and all related parties are exempt from any responsibility arising from photographing, recording, filming, or publishing photos, recordings, videos from this competition.

When submitting the business plan, the brief introduction of Candidates in the business plan will be considered as a summary that can be used wildly and can be used in the relevant document of the competition. The Organizer will provide copies of business plans, pitch decks, and 2-minute pitching videos in the competition to the Board of Judges and the relevant person in charge, and request these individuals not to make any additional copies. Any acts of fraud, ethics, and law violations within the framework of the competition, the Organizer has the right to unilaterally cancel the Candidate’s right and has the right to handle according to law.

TIMELINE: https://startupwheel.vn/en/timeline/

More information:

https://startupwheel.vn/en/  

Type of Opportunity

Capstone Project

Application Deadline

31st May, 2021

Age Range

Various

Competitiveness

Application Process Includes

Startup Wheel International Track is tailored for international startups who are interested in exploring and expanding their business to Vietnam market.

01 March – 31 May 2021

Call for applications on 5 continents

Collaborating with partners from around the world to spread the words about the competition
To participate in Startup Wheel, startups have to submit:
 Application form
 Required documents (including a pitch deck and a 2-minute pitching video)
*Guideline for applying to Startup Wheel

31 May – 10 June 2021

Screening round

Selecting potential startups for the next round

14 June – 2 July 2021

Top 50 selection round

– 1:1 Online Interview with Local Experts (2 minutes pitch, 5 minute Q&A) and receives advice from the local experts.
– Writing a solid business plan focused on Vietnam market expansion.

05 July – Top 50 Announcement

23 July 2021

Semi-final round – Investment Day

Investment Day – An online platform to connect Top 50 with potential investors, partners, and customers in Vietnam as well as in Southeast Asia
– Each startup have a separate room on Zoom to pitch and interact with the judges and the attendees online;
– The judges and the attendees have an amount of “virtual money” to invest in their favorite startups on the platform.

26 July – Top 5 Announcement

07 August 2021

Final round

– Top 5 have 2-minute pitching video and 10-minute Q&A with the Board of Judges via online;
– The final round will be streamed on YouTube and other social media channels.

20 – 21 August 2021

Vietnam Startup Day – Offline at Ho Chi Minh City, Vietnam

Top 50 would have a crowd pitch and a 2-day exhibition in front of 10,000 attendees in HCM City, Vietnam.
Vietnam Startup Day is the largest startup exhibition in Vietnam taking place within 02 days in August annually. Key players at the event are from the Government, VCs, large corporations, startups accelerators/ incubators, associations, and startup support organizations.

Due to the pandemic, the event is still a tentative activity for Top 50 International startups

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Startup Wheel Vietnam Track is tailored to accelerate Vietnamese startups for the next development phase, tractions, and fundraising.

01 March – 31 May 2021

Call for applications & kicked off events across Vietnam

Running roadshows and promotion events in 4 cities: Ha Noi, Da Nang, Can Tho, and HCM City
To participate in Startup Wheel, startups have to submit:
 Application form
 Required documents (including a pitch deck and a 2-minute pitching video)

15 April – 30 June 2021

Preliminary rounds

Preliminary rounds with a Board of local experts organized at 4 big cities: Ho Chi Minh, Ha Noi, Da Nang, and Can Tho
– Each startup had 2 minute offline pitching
– Each startup have a 2-minute pitch and receive advice on their products/ services or business model, some was pushed to have prototypes/MVPs before 25 June
Top 100 Announcement (01 July)

01 July – 15 August 2021

Acceleration phase

– Solid business plan
– Marketing and branding plan to position startups’ products/ services in the market
– Fundraising plan for the next round of funding
Top 60 Announcement based on the acceleration phase

21 & 22 August 2021

Startup Day – A 2-day event in Ho Chi Minh City, Vietnam

A 2-day exhibition for startups to showcase startups’ products/ services to +15,000 attendees
Pitching sessions:

– Semi-final round (Top 60): 2-minute pitch in front of +100 Esteemed Judges
– Final round (Top 10): 5-minute pitch & 5-minute Q&A with a Board of Esteemed Judges, who are Top CEOs from large corporations and Top startup investors in Vietnam

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