The Net Zero Challenge 2024 has begun

The second edition of the annual Net Zero Challenge, which aims to find technological solutions to tackle climate change, kicked off in Ho Chi Minh City on July 16.

Hanoi (WNA) – The second edition of the annual Net Zero Challenge, which aims to find technological solutions to tackle climate change, kicked off in Ho Chi Minh City on July 16.

The prize pool is VND 15 billion (VND 630,000) and is open to Vietnamese and foreign startups, research teams and non-profit organizations working on climate technologies.

Entities whose solutions have been commercialized in other countries but want to have them tested in Vietnam are also encouraged to join.

The competition will cover three main areas: renewable energy and carbon neutrality, food systems and sustainable agriculture, and circular economy and waste management.

Contestants will be asked to develop a product that has the potential to be introduced to the market or replicated in a given country.

The best solutions will be tested and presented to investment funds, policymakers and alliances fighting climate change.

Winners can receive an investment of $100,000 from venture capital firms Sopoong Ventures and Touchstone Partners, as well as a cash prize of VND200 million ($7,835) from the German Corporation for International Cooperation.

The application deadline is September 15, and the top nine teams will advance to the final round in November.

The aim of this year’s competition is to create an open, innovative platform connecting entities dealing with climate technologies and promoting green technologies and green capital among enterprises.

Last year, over 100 people from 45 countries and 200 from Vietnam entered the competition.

The three winners were: Vietnamese battery startup Alterno for its thermal energy storage solution using sand battery technology, Forte Biotech for a shrimp disease tester, and AirX Carbon for a plastic substitute made from bio-waste./.