CIC – From startup ideas to million-dollar startups
CiC is an annual contest on innovative entrepreneurship for students and pupils organized by the VNUHCM Innovative Entrepreneurship Center (IEC). The competition is part of a series of startup and innovative programs of the Vietnam National University Ho Chi Minh City as well as a strategic mission to actively contribute to the socio-economic development of the local and regional community. The contest is accompanied by universities and supported by Ho Chi Minh City Department of Science and Technology, and the VNUHCM Start-up Foundation.
The contest aims to create an environment for experience, enhance skills and knowledge, and spread inspiration about entrepreneurship to students and pupils nationwide.
The contest has a significant influence on society. Each year, CIC reaches over 700,000 students, attracting more than 1,000 contestants with 300 project teams from over 230 universities, colleges, and high schools across the country.
The contest is designed as an experience journey framework, creating an environment for contestants to enhance their entrepreneurial and innovative capabilities. Activities vary from inspirational sessions by famous young founders to talks with successful entrepreneurs, interspersed with coaching days, training, and advisory programs for project teams. Contestants undergo a 7-month journey with five competition rounds and over 20 training sessions from innovation experts on fundamental to advanced knowledge in entrepreneurship and innovation. The contest follows a Lean Startup methodology, which is a learning approach through real-life experiences. The “journey” of the contest is assessed by experts from Swiss EP as meeting international standards.
For projects in continuous development, aspiring to bring their products or services to market, the competition will facilitate access, and direct connections with angel investors, investment funds, as well as support and introduction to participate in incubation and startup acceleration programs of IEC and partners both domestically and internationally.
Several success stories have emerged from projects participating in CiC, evolving into successful fundraising startups, garnering high valuations, and actively operating in the market. Contestants who took part have matured, becoming outstanding individuals within corporations and large entities upon graduation. This has demonstrated a tangible contribution to the socio-economic development and prosperity of the local community through the CiC – Creative idea Challenge.
Contact
Lê Nhật Quang – Director of IEC, Software Technology Park, Vietnam National University Ho Chi Minh City.