Nearly 87,000 USD to invest in rural youth start-ups
The national fund for employment’s loan assistance of 2 billion VND (86,784 USD) will be distributed among winners of an ongoing startup contest for rural youths this year, according to organisers.
At the press conference launching the startup contest in Hanoi on June 15 (Photo: VNA)
Hanoi (VNA) – The national fund for employment’sloan assistance of 2 billion VND (86,784 USD) will be distributed among winnersof an ongoing startup contest for rural youths this year, according toorganisers.
The competition, launched by the Central Committee of the HoChi Minh Communist Youth Union (HCYU) in Hanoi on June 15, consists of threerounds.
Eligible candidates are young people aged from 18 to 35 whohave ideas to set up their agricultural businesses in crop cultivation, animalhusbandry, fishery, forestry, salt making, processing and preservationindustry, and agro-tourism, among others.
In the first round, participants submit their ideas to theHCYU’s rural youth department at the address of No 62 Ba Trieu in Hanoi or theemail address: sangtaokhoinghiep@gmail.com.
A total of 120 outstanding candidates will be selected forthe second round where they will be trained to build a business project. Allprojects will have to be completed for submission prior to September 15.
The 30 most excellent projects will be chosen for thenationwide final round where the candidates have to present their ideas infront of the jury and investors.
The first prize winner will pocket 50 million VND, while twosecond prize winners will receive 30 million VND each. There are three thirdprizes worth 15 million VND each and three consolation prizes worth 10 millionVND each.
The rural youth department had organised similar contests in2018 and 2019, attracting 404 ideas in total. From these events, 20 candidateshad been supported to access loans amounting to over 4 billion VND from thenational fund on employment, while 62 others have a chance to join businessclasses worth 830 million VND./.
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At the press conference launching the startup contest in Hanoi on June 15 (Photo: VNA) 
