FREQUENTLY ASKED QUESTIONS

General

If I only have an idea but haven’t worked on that, can I participate in the competition?


Yes. You can. However, because of our grading criteria, startups which already have products or revenue often perform better than the ones who do not. So that, we recommend you to work on your idea first.




Can I participate in the competition if my English is not good enough?


VietChallenge is a startup competition not an English competition. So, we don’t evaluate startups based on their language skills. In another way, you can consider VietChallenge as a chance for you to improve English as we have a lot of mentors and trainers who can help you.




Can I submit multiple startup ideas?


Yes. You can do that.





Jong Ventures

What is Jong Ventures?


Jong Ventures is a database for startups in Vietnam and Southeast Asia. Our vision is that it will be the first equity crowdfunding platform for startups in Vietnam. Thanks to Jong, startups can raise funds quickly from investors in a campaign.




Why do I have to apply via Jong Ventures?


From this season, VietChallenge will utilize Jong as a platform for startups. There are a lot of benefits for startups: - They can introduce their products or services on the platform to thousands of investors worldwide. - In future, they can raise funds directly on Jong. - They can use other services that we offer such as recruiting, advertising or due diligence.




What is the relationship between VietChallenge and Jong Ventures?


Jong Ventures is owned, created and operated by the VietChallenge team. So that, startups no need to worry about the credibility of the platform. The reason why we have to seperate the two entities is Jong will not only serve the competition but also work with other startups in the market.




Does Jong guarantee security and confidentiality?


Jong is hosted on Amazon Web Services and operated by the most talented software engineers in both Vietnam and the U.S. So that, we ensure the security and confidentiality.




Can startups raise funds on Jong at this time?


At this time, you cannot raise funds on Jong as the current laws in Vietnam do not allow that. Once we have permission from the Vietnamese government, we will launch this feature.





Eligibility

Can we use either English or Vietnamese?


It’s mandatory for startups to submit in English.




I have participated in other competitions and won their prizes, can I still apply my project to compete at VC?


Yes. You can still apply as long as you haven’t raised funds or won cash prizes up to $1 million.




I established my company many years ago, is my company considered as a startup?


Yes, you are still considerred as a startup and can apply for the competition as long as you haven’t raised funds up to $1 million.




I’m a Vietnamese descent but I don’t have Vietnamese passport or citizenship, can I still sign up for the competition?


You don’t need to be a Vietnamse citizen to apply for the competition. VietChallenge opens to startups all over the world. The only requirement is that you have a plan to do business in Vietnam in the next 3 - 5 years.





Venture Development Center, University of Massachusetts Boston

100 Morrissey Blvd, Boston, MA, United States

contact@vietchallenge.org

  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • LinkedIn Social Icon

©2020 by