The GBA Business Challenge - Season 2: The Champion has been found

5:36:18 PM | 12/23/2021

Four young talents of SHRIMPP team coming from the Da Nang City became the champion of. The SHRIMPP team won the grand prize VND 240 million to realize their business project of transforming the waste from shrimp processing into high nutritious microbial organic fertilizers.

Initiated in 2020 by the German Business Association (GBA), the GBA Business Challenge has become a new attractive playfield of young Vietnamese students and people, who have passion for entrepreneurship and creating the changes and outbreaks. While the contest received around thirty applications in the first season, the number of applications had doubled to sixty-one in the second season. The applicants amazed the contest jury consisting of sixteen leaders of GBA member companies and organizations with their innovative and creative business plans. Twenty out of sixty-one teams were then chosen to receive intensive training and coaching from professors and experts of Vietnam-German University (VGU) and the German Academic Exchange Service (DAAD) to complete their business plans in a professional manner. Through several pitching rounds, the six best ideas, one more than the previous season, were selected to enter the final pitch. On the December 2, 2021, the six finalists pitched their ideas in front of not only the contest jury but also more than forty participants of the GBA Monthly Business Meeting. With a very convincing idea and a feasible business plan, the SHRIMPP team from the Da Nang University won most of the votes and became the champion of the GBA Business Challenge 2021.

Mr. Lukas Schoeneck, CEO of Thyssenkrupp Industrial Solutions (Vietnam) Ltd., Project Team Leader of the GBA Business Challenge 2021 shared: “This contest is not only a chance for each of us to express ourselves, but also a fantastic opportunity to realize our dream of using biological applications to solve problems that many businesses are facing, help them to operate and grow in a more sustainable way by reducing negative impacts on the environment,” Nguyen Phuoc Vinh An, SHRIMPP Team Leader shared after the final pitch.The idea of the SHRIMPP is utilizing the waste of the seafood processing to produce organic fertilizers applying advanced but economical biological applications.“As a Business Association, we believe that we make a more sustainable impact by encouraging and mentoring business. The GBA Business Challenge is our effort to create and support new start-ups, which later can create jobs, income as well as contribute to the economic development of Vietnam in the long term. Through this initiative, we also want to create a connection between the German business values and Vietnamese entrepreneurship spirit that might open many cooperation and business opportunities in the future,”

After the contest, the champion team will receive the fund to immediately start their implementation phase. In the next 12 months, the GBA offers all six finalists a following up mentoring program carried out by experts of GBA member companies and organizations to make sure that most of the great ideas will have chance to be realized and turn into proper start-upsin the very near future.

Nguyen Mai (Vietnam Business Forum)