On the afternoon of December 4, the Hanoi Youth Union organized the final round of the Capital - Sao Kim 2024 Innovation and Digital Transformation Product Competition, with the participation of the 5 best collectives and individuals selected from nearly 1,200 candidates from universities, colleges, academies and businesses in the capital.

Speaking at the opening of the event, Deputy Secretary of the Hanoi Youth Union Tran Quang Hung said that the competition was organized to find solutions to apply blockchain technology to solve life problems. This is also a practical activity to implement Program No. 07-CTr/TU of the Hanoi Party Committee on "Promoting the development of science, technology and innovation in Hanoi in the period of 2021-2025".

Deputy Secretary of the Hanoi Youth Union Tran Quang Hung also expressed that, through the contest, the Hanoi Youth Union wishes to create a useful playground for union members and young people to have the opportunity to demonstrate their talents and passion for technology; promote the national digital transformation process, develop the digital economy; contribute to building high-quality human resources, promote the strong and sustainable development of Vietnam in the coming time.

Competition of creative ideas

The five teams competing in the final round are all authors of five projects with creative yet practical ideas, including: Vietnam Carbon Credit Project, Finsey Flexible Tuition Solution, Fun Studio automatic photography brand, GlobeID digital identification application, and HSV Pickleball Club.

In particular, the Vietnam Carbon Credit Project was established with the aim of providing services to create and sell carbon credits through afforestation and reforestation activities. Beneficiaries of this project include landowners, businesses, and non-governmental organizations.

Through activities of measuring, reporting, verifying carbon credits and connecting with buyers in the international market, the project aims to reduce CO2 emissions, create sustainable income for landowners, and at the same time, support businesses to comply with “Environmental – Social – Corporate Governance” (ESG) standards.

Fun Studio is a brand that has quickly caught up with the instant photography trend that is popular again among Korean youth, and brought this model to Vietnam with superior, simpler solutions, easy to manage and operate at very low cost.

The attractive points of Fun Studio's services are the beautiful photo quality, unique costumes, accessories and frames, and prices suitable for students. This business not only targets the domestic market but also aims to become the leading franchise brand in Southeast Asia.

As a blockchain-based application, GlobeID provides a unique digital identification solution for Web3 users. The project aims to prevent fake accounts, optimize costs for organizations, and create trust on digital platforms.

In addition, GlobeID integrates Web3 wallet and analytics tools, helping users participate in airdrop campaigns intelligently.

HSV Pickleball Club (HSC Pickleball Club) is a series of projects to experience pickleball with a modern ecosystem, meeting international standards. Not only providing the best training and competition services, the project will regularly organize tournaments, tours combined with resorts for businesses, organizations and individuals.

Providing affordable and accessible loans to college and university students is Finsey 's primary goal. The platform uses a scoring mechanism "based on GPA and alternative data" to evaluate students instead of traditional credit scores like banks (since 95% of students do not have credit scores).

After dramatic competition and impressive presentations, the GlobeID project won the first prize of the competition. The second prize went to the Fun Studio project, while the Finsey project won the third prize. Two consolation prizes went to the HSV Pickleball Club project and the Carbon Credit project.

Towards a common playground for the domestic innovation community

Sharing on the sidelines of the event, Deputy Secretary of the Hanoi Youth Union Tran Quang Hung said that this was the first year the Capital Innovation and Digital Transformation Product Competition was held, so difficulties were inevitable. The organizing committee encountered a number of challenges such as finding project sources, attracting teams and convincing investors to participate. However, after the initial launch phase, the competition received support and participation from many investment funds and large enterprises.

“Not only in Hanoi, the competition was also held in other major cities of Vietnam such as Da Nang and Ho Chi Minh City, attracting the participation of about 2,000 teams, with more than 10,000 members from universities and businesses in Vietnam, the UK, the US and China,” Mr. Tran Quang Hung excitedly said.

In addition to organizing the competition, the Hanoi Youth Union will also implement other support programs such as providing offices, consulting and investment support for creative projects, aiming to create positive impacts on the innovation and digital technology community in Hanoi and across the country. "The organizers hope that the competition will create a creative playground, while connecting the innovation and digital technology community across Vietnam," added Deputy Secretary of the Hanoi Youth Union Tran Quang Hung.

The Capital – Sao Kim Innovation and Digital Transformation Product Competition is a potential initiative of the Hanoi Youth Union, aiming to promote and support the development of the innovation and digital technology community in Vietnam. The competition has received widespread support and is expected to create positive impacts on the innovation and digital technology community both domestically and internationally.