Vietnam Blockchain Corporation (VBC) Honored in the Top 10 Innovative Entrepreneurship Groups I-Star Innovation & Entrepreneur Award, in the WHISE 2019 Week of Innovation and Entrepreneurship with Agridential value chain traceability.
The I-Star 2019 Innovation and Entrepreneurship Award honored 40 organizations and businesses that are active in the innovative startup ecosystem in Ho Chi Minh City. In particular, the Organizing Committee has awarded prizes to 12 typical units with 50 million / prize for 4 categories.
This annual event is hosted by the Ho Chi Minh City People’s Committee in collaboration with the Embassy of Finland in Vietnam. Department of Science and Technology of Ho Chi Minh City and Ho Chi Minh City Union work together. WHISE 2019 is an opportunity for managers and the startup community in Ho Chi Minh City revalue the results of innovation and start-up activities in 2019, from which there are grounds to continue advising the City on supporting policies to promote the creative startup ecosystem in Ho Chi Minh City activities are more effective and quality.
Participate in the “I-Star Innovation & Entrepreneurship” contest 2019, VBC presented a solution for traceability of agricultural products along the value chain applying blockchain technology to agriculture to fundamentally improve the management, monitoring, production and processing of agricultural products through the value chain. The solution, called Agridential, is a value chain traceability solution based on the blockchain technology standard GS1. Traceability by blockchain technology helps consumers verify the quality of agricultural products; minimize fraud and risk in the supply chain thereby improving the reputation and brand value for true businesses in the market. The information is stored in a distributed manner, in multiple copies on the server community but ensuring privacy, not concentrated in one server, so the ability to forge is almost impossible. GS1 standard is a globally recognized standard and is also widely applied by Vietnam. Therefore, the application of GS1 standards in traceability of blockchain technology makes verification easier when exporting to major markets, contributing to increase product value.
The feasibility of the solution is demonstrated not only by technical tests but also thorough evaluation when applied to real products. Agridential has been successfully deployed for more than 20 agricultural products throughout the country, typically My Xuong and Dong Thap mangoes are exported to the US market.
Agridential Solution InterfaceMr. Do Van Long, Director of Vietnam Blockchain Corporation shared, “We are very proud of the blockchain technology value chain traceability solution that was honored to be in the Top 10 Innovative Enterprises in the I-Star Innovation & Entrepreneurship Competition 2019. This is a testament to the relentless efforts of the staff and VBC’s commitment to sustainable development, to provide blockchain technology solutions for agriculture in particular and the country’s economy in general.”
According to the organizers, this year’s award will be awarded to 4 groups of subjects with a total of 12 awards. In which, each target group was selected to give 3 co-prizes including recognition certificate, souvenir cup of the Organizing Committee and bonuses. The list of evaluation groups and criteria include:
Group 1: Innovative start-up businesses: are small and medium-sized businesses established to implement business ideas on the basis of exploitation of intellectual property, technology, new business models and able to grow fast. Selection criteria: 1) Creativity; 2) Economic efficiency; 3) Social impact.
Group 2: Innovative solutions: new and creative ways to solve community problems. These solutions have been applied effectively in the City. Selection criteria: 1) Creativity; 2) Social impact
Group 3: Media works: are press works, a series of works, categories and special subjects of various types of journalism that have a positive impact on the community of innovative startups. Selection criteria: 1) Content depth; 2) Creativity; 3) Social impact.
Group 4: Organizations and individuals: are incubator organizations, organizations supporting innovation activities, angel investors, consultants,… Contributing positively to innovation activities and entrepreneurship. Selection criteria: through achievements devoted to the startup community of innovation.
Director of Ho Chi Minh City Department of Science and Technology Nguyen Viet Dung shared that the I-Star Award significantly contributed to promoting innovation and applying development research results to production and business, At the same time, building and spreading the spirit of innovation and entrepreneurship in all areas of the community, contributing to creating new breakthroughs for the sustainable growth of Ho Chi Minh City.
The week of Ho Chi Minh City’s innovation and entrepreneurship week, organized by the Ho Chi Minh City People’s Committee and the Embassy of Finland in Vietnam, takes place from October 15-19, with about 30 events on innovation and entrepreneurship.