VBCF Awards US$2.5 Million to First Eight Inclusive Business Projects
Vietnam Business Challenge Fund (VBCF) has decided to award about US$2.5 million as a non-refundable investment to the best eight innovative and inclusive business models in the areas of agriculture, low carbon growth, infrastructure and basic services, as a result of the first call for proposals in November last year.
The winners have demonstrated a high potential to achieve innovation, inclusion and commercial viability with their business ideas, bringing both commercial profits to the company and generating social impact to low income households across Vietnam. They propose a wide range of business models, including: Increasing value in Vietnamese rice produced by introducing Japonica rice seeds widely to the market; Introduction of bio char technology for corn production; Sustainable farming of scallops in Vietnam; Production and commercialisation of F1 seeds in Vietnam; Affordable water filters to improve low income households’ access to high quality water; Fully commercial and centralized water treatment plant to improve low income households’ access to high quality and affordable water; and Medicinal plant production with ethnic minorities in compliance with GACP-WHO standards.
These projects cover various locations including Long An, An Giang, Lao Cai, Son La, Lai Chau, Binh Thuan and others, and will be implemented until December 2015. The expected outcome is thousands of jobs and increased income for tens of thousands of low income people, while benefiting the companies with increased profitability and market share. More importantly they will help introduce successful inclusive business models that can be replicated by other companies in the region.
Vietnamese
