Vietnamese Startup World Champion Wins $1 Million Prize

At 11:00 a.m. on May 18 (Hanoi time), the Startup World Cup 2019 competition organized by Fenox Ventures in San Francisco (USA) announced Abivin, the representative of Vietnam, as the champion in the final night. The winning team surpassed representatives from more than 40 countries to win the prize of 1 million USD. This is a "purely Vietnamese" startup unit that has entered the international arena, affirming the change in the quality of creative startups in Vietnam.

Abivin - a startup that provides transportation optimization supply chain management software. This startup team has built software that can generate an optimal routing plan in just a few seconds, while maximizing vehicle capacity and saving 40% of human and fuel costs.

Mr. Pham Nam Long - founder of Abivin shared that the three core factors of success were finding problems in the logistics market at that time and choosing to solve them with technology products using artificial intelligence; the consensus of the staff working at Abivin from the early days despite the startup company still having many difficulties in terms of reputation, customers, and products; and support from the government, in which the Ministry of Science and Technology with Project 844 introduced experts and advisors, chaired and organized programs and connected Abivin with the domestic and international startup ecosystem.

"Abivin plans to use the investment to continue developing R&D for products with artificial intelligence in logistics to solve the core problem of route optimization technology," said Mr. Long, adding that it will expand the market beyond Hanoi and Ho Chi Minh City in Vietnam and move forward in Myanmar, Singapore, Thailand, and Indonesia.

Abivin is trained by the Vietnam - Finland Innovation Partnership Program, Phase 2 (IPP2) (hosted by the Ministry of Science and Technology) and has participated in programs such as Shark Tank Vietnam, Techfest Vietnam 2018 and is connected to international programs such as the Rice Bowl Startup Awards.

The Startup World Cup is the world's leading startup competition organized by Fenox Ventures, with the participation of experts who are long-time investors from Silicon Valley (USA) and startups around the world. The program collaborates with prestigious competitions in more than 40 countries every year.