DTU Students Win the 2016 Targeted Innovation Challenge
The DTU HQT team of Le Quang Thanh, Le Nhat Hung and Nguyen Ngo Anh Quan won the National 2016 Targeted Innovation Challenge (TIC), which took place at the Danang Co-working Space (DNC) and the Danang Entrepreneurship Support Company (DNES). They had only 1 hour to present their product, attract the attention of the investors and answer questions.
The HQT team present their solution
DTU students receive their prize from Mr. Stanley Boots
Sponsored by Frontier Law & Advisors, TIC is a competition designed to arouse the lively creativity of Vietnamese university students to find a solution to a selected environmental problem. For the pilot contest, Frontier chose a problem related to tuna fishing by hand.
Mr. Stanley Boots, CEO of Frontier Law & Advisors, said: “We want to help inventors focus their creativity on practical, daily activities. TIC allows us to demonstrate our commitment to supporting Danang's start-up ecosystem and we have created a strong working relationship with the city.”
Frontier has been focusing on building start-up ecosystems over the past two years and TIC is one of the company’s contributions to this goal. Frontier believes this is an exciting area where law firms can become active in supporting communities by leveraging a more global and experienced perspective into product commercialization.
The TIC competition began on October 3rd at DNES. Given a 24-hour challenge packet, inventors competed over eight weeks to take a problem already identified in combination with an invention already developed by Frontier and convert those into a commercial product which should have a positive environmental impact. Each team was provided with a mentor to assist in the steps required to complete their projects.
Teams submitted their products on November 25th and teams were then given a video telling them how to present their products to win over Frontier investors.
The winning team and runners-up received $1,000 (22.5 million vnd) and $400 respectively, with the opportunity to commercialize their product in the future.
The winning DTU HQT team of Le Quang Thanh, Le Nhat Hung and Nguyen Ngo Anh