On June 23rd, 2022, SK Group kicked off the series of events for Top 12 startups of SK Startup Fellowship 2022 (SKSF 2022) by hosting the first event – Orientation Day.
After nearly a month of opening the registration process, SKSF 2022 has received applications from more than 150 startups. Regarding the field of operation, SKSF season 3 has shown a lot of diversity with the ability to attract startups in many different fields, from Healthcare/Wellness, Environment/CleanTech, E-commerce, FinTech, to Enterprise Solution, AI/Deep Tech, PropTech , EduTech.
With the success of the previous two seasons, this year’s program has received a lot of attention from many fast-growing startups. The 12 most potential startups of SKSF 2022 were officially revealed after a rigorous screening, evaluation and face-to-face interview process.
Highlights of Top 12 SK Startup Fellowship 2022?
In general, the Top 12 SKSF 2022 are mainly comprised of companies in the stage of accelerating development and on the path of defining strategic directions. In terms of technology adoption and implementation, SKSF 2022’s finalists can be grouped into 2 distinctive approaches. While some startups have shown great agility through their ability to capitalize on and implement new technologies and global trends, AI, others have shown their determination to find breakthrough solutions for relatively traditional industries like AgriTech.
Firstly, many startups possess a high-tech core, achieved through extensive research and have successfully secured patent ownership such as Benkon, Cypher AI, SmartDoseAI, Selex Motor, CyberPurify. Particularly, some of the startups in the hardware field have entered the commercialization stage and found a suitable market. In fact, high-tech products with integrated software and hardware manufactured in Vietnam require a great deal of software development capabilities, as well as the ability to manage raw materials, supply chain and supporting ecosystems.
Secondly, apart from being highly trained and highly knowledgeable in their specialized industries, founders of SKSF 2022 also have a very practical business mindset; many of which have extensive experience in both Vietnam and international markets, for example Realbox, Fundiin.
Thirdly, this year’s Top 12 clearly demonstrated a sustainable business development mindset: to come up with solutions to bring about environmental and social impact but at the same time create economic value such as Selly, SoBanHang, Hi-Tech Care, Benkon. In addition, many startups are offering solutions that are suitable for the current context and the needs of Vietnam’s rapid digital transformation such as Vuihoc and Bizzi.
SKSF is considered as one of the pioneering programs that bring value to startups by leveraging the resources of economic groups to support the development of Vietnam’s startup ecosystem. Orientation Day is the event that marks the beginning of the nearly 6 month journey of this year’s Top 12.
At the event, Mr. Truong Minh Hung – Senior Investment Director, SK Vietnam shared during the opening speech: “From the perspective of the Organizing Committee, I am very impressed with the consistency in application quality of the finalists of SKSF 2022. Every single one of the Top 12 teams is very strong and possess an impressive business model with high social impact. With that being said, I think choosing the Top 4 will not be an easy task for our judges.”
After listening to SK Group’s representatives share details about the program’s activities, the participating startups have gotten a better picture of the financial and non-financial values that SKSF can bring, which can be leveraged to help their businesses achieve stronger growth in the future. Nguyen Nguyen – Co-Founder and CEO of Selex Motors said, “I believe that joining the SKSF program can open the door for Selex Motors to participate in SK Group’s ecosystem, taking advantage of the group’s strong resources to accelerate growth”.
Immediately after the announcement of the Top 12, startups will continue to participate in programs to share knowledge and experience in financial management, fund raising, etc. from SK’s partners such as the leading venture capital funds in the region, KPMG, BSSC, along with many opportunities to interact with SK’s network and the Vietnamese startup ecosystem. It is expected that in November 2022, the SKSF 2022 program will come to and end with the Demo Day event, where startups will present their business models in front of Investors and Judges. Top 4 will receive a non-equity funding of USD 50,000/startup; and USD 16,000/startup for the remaining 8 startups.
List of Top 12 SK Startup Fellowship 2022, Batch#3
|1||BenKon||Taddy Truong||BenKon is a smart monitoring solution that uses AI algorithms to suggest, automate and optimize energy consumption by up to 40%, especially for air conditioning equipment.|
|2||Bizzi||Nghia Vu||Bizzi is the B2B SaaS startup to help simplify and automate business payment processes.|
|3||CyberPurify||Truc Nguyen||CyberPurify offers artificial intelligence (AI) solutions for filtering harmful content on the Internet via a wi-fi device that helps block unhealthy websites from all internet-connected devices in the home.|
|4||Cypher AI||Thanh Hoang||Cypher AI provides a solution for data collection and labeling, which is one of the most difficult problems in terms of cost and time for any artificial intelligence project, particularly unstructured artificial intelligence projects such as voice, text, and images.|
|5||Finan Pte. Ltd.||Nam Bui||Finan focuses on empowering MSMEs to thrive on digital technology and create a sustainable impact on society. In which, SoBanHang application was created to help small and micro businesses build online stores, sell to more customers and manage cash flow easily on smartphones.|
|6||Fundiin JSC||Cuong Nguyen||Fundiin is the Buy-Now-Pay-Later (BNPL) pioneer and market leader in Vietnam. Fundiin helps underbanked Vietnamese access interest-free pay-later facilities to better manage their budget. Fundiin is currently the only BNPL in Vietnam that is free of interest and fees.|
|7||Hi-tech Care Tech. JSC.||Duc Anh Dinh||Hi-tech Care JSC was formed in 2019, focusing on shrimp farming. By applying recirculating aquaculture system technology, the company produces high-quality fresh shrimps without the use of non-antibiotics during the farming periods.|
|8||Hung Vuong Education and Technology JSC||Lam Do||VUIHOC is a K12 after-school online education platform with 2 main products: VUIHOC DUO & VUIHOC TUTOR. VUIHOC makes learning excitement, engaging & effective by leveraging deep pedagogy & cutting edge technology.|
|9||N2TP Technology Solutions JSC.||Nguyet Dang||SmartDose AI is a platform that supports hospitals in personalizing dosage regimes for drugs with a narrow therapeutic window, helping increase the drug’s therapeutic effects while minimizing adverse events, hence, bringing more benefits to patients.|
|10||Realbox||Khoi Pham||Realbox (REB) is a blockchain-driven real estate platform that will innovate property investment by offering opportunities to everyone to co-invest in a fraction or share of assets.|
|11||Selex Motors||Nguyen Nguyen||Selex develops a comprehensive ecosystem, the first of its kind in the world, for electric mobility that is highly optimized for last-mile delivery. The proprietary solution includes a highly optimized electric scooter, the most compatible battery pack, a novel battery-swapping station, and a management software platform.|
|12||Selly||Tuan Thong||Selly is the leading Social Commerce platform in Vietnam. Selly empowers women and people with disadvantaged backgrounds to become micro-entrepreneurs and earn extra income with zero investment.|
|SK Startup Fellowship 2022, Batch#3:|
Program Organizer: SK Group is the 2nd largest conglomerate in Korea, with a history of nearly 70 years of establishment with more than 100 companies in more than 40 countries and territories spanning the following industries: Energy, Telecommunications, Semiconductors, Biotechnology. SK Group achieved a revenue of USD 106 billion in 2020 and was ranked in the Top 100 global enterprises of Fortune 500. Since 2018, SK Group has actively invested in the Vietnamese market through large deals with a total value of nearly USD 2.5 billion into leading enterprises such as VinGroup, Masan Group. Along with an investment of USD 30 million for the construction of the National Innovation Center (NIC), starting in 2020, SK Group has launched the SK Startup Fellowship program with the desire to directly support startups, promoting the spirit of entrepreneurship and thereby demonstrating the responsibility and commitment of this Group to long-term investment in the Vietnamese market.
Program Partner: BSSC is one of the most reputed and largest startup support units in Vietnam. BSSC’s ecosystem has more than 15,000 Startups/SMEs, 25,000 Entrepreneurs, 100 Mentors & Professionals, 200 Angel Investors and Venture Capital Funds. As a Program Partner of SK Startup Fellowship 2022, BSSC is committed to contributing quality resources to the program.