Hanoi, Viet Nam, December 11, 2024 – The EU-funded Accelerating Innovative Start-ups in Energy Efficiency (AIS4EE) project officially introduces 14 start–ups, and 13 youth teams selected for the Accelerator Program. The finalists went through an evaluation process and were selected for their innovative energy-efficiency solutions across three sectors of industry, building and transportation, with high relevance to Viet Nam’s context. 

Launched in August, the Accelerator Program, part of AIS4EE project, attracted over 160 applications from more than 20 countries, underscoring the global interest in energy efficiency solutions in the industry, building and transportation sectors in Viet Nam. The majority of the selected 14 start-ups are based in Viet Nam, while another two come from Thailand, one from Singapore, and one is cofounded by a Vietnamese, and a South Korean. 

In her opening remarks at the networking reception held on 11 November 2024, Ms. Nguyen Thi Lam Giang – Director General of the Energy Efficiency and Sustainable Development Department, Ministry of Industry and Trade (MOIT), underlined that most of the entries aligned with the program‘s goals of promoting energy-efficient solutions in industry, building, and transportation in Viet Nam. Notably, the program garnered international interest, with submissions by start-ups and youth teams from various countries, including South Korea, Singapore, Thailand, Malaysia, Indonesia, and Australia. In this regard, Ms. Giang commended on the participation of start-ups from across the globe, which showcases the significant potential and growing demand for innovative energy-efficiency solutions in Viet Nam, highlighting that stronger support is needed for innovation in energy efficiency. 

Ms. Nguyen Thi Lam Giang – Director General of the Energy Efficiency and Sustainable Development Department, 

Ministry of Industry and Trade giving opening remarks 

Ms. Kristina Buende, Head of Cooperation at the European Union (EU) Delegation to Viet Nam, said: “This program and today’s activity marks a significant milestone in the joint efforts of the European Union, the Ministry of Industry and Trade, and the Global Green Growth Institute, together with Touchstone, to foster innovation in energy efficiency, the steppingstone in driving a sustainable energy transition in Viet Nam.  

The EU is ready to partner with key players in the global fight against climate change and the implementation of the Paris Agreement. To this end, we will use all available tools, budget support and policy dialogue, technical assistance, capacity building, and support to investments, especially by the European Fund for Sustainable Development Plus”. 

Ms. Kristina Buende, Head of Cooperation at the EU Delegation to Viet Nam  

speaking at the networking reception 

In his address, Mr. Juhern Kim, Country representative of the Global Green Growth Institute (GGGI) to Viet Nam, said “Though we come from different industries, we are united as a like-minded cohort and ecosystem partners. Working together, we have the potential to leave a meaningful legacy on Viet Nam’s path to net-zero emissions by 2050. I look forward to advancing this mission with each of you throughout the program and beyond.” 

Under the Accelerator program, the start-ups and youth teams will delve into a nine-week learning experience, with mentorship and coaching sessions joined by industry experts, covering topics such as energy efficiency technologies, business strategy, and market trends. The panel of mentors includes executives from local and international startups and investment funds. 

Mr. Juhern Kim, Country representative of the Global Green Growth Institute (GGGI) to Viet Nam 

The 14–startup cohort comprises of 8 start-ups focused on the building sector, 4 in industry, and 2 in transport. Their energy efficiency solutions cover a wide range, including energy management, energy modelling, Electric Vehicles (EV) energy aggregation, battery technology and water efficiency, etc. For the youth track, 6 teams are working on solutions in the building sector, 3 in industry, and 4 in transport. These students, hailing from 19 universities and 1 high school across Viet Nam, have proposed diverse solution ideas on energy efficiency. 

Start-ups joining the AIS4EE’s accelerator program

Start-ups will join an international fundraising trip, while youth teams will join a domestic field trip to explore the energy efficiency ecosystem. The program will conclude with a Demo Day in 2025, where all start-ups and youth teams will pitch and present their innovative solutions, competing for a prize pool. The top three start-ups will earn a share of the $35,000 prize pool, while students compete for a total prize pool of $10,000. 

The AIS4EE’s accelerator program is the first government-led accelerator program dedicated to energy efficiency-focused solutions by start-ups and student groups in Viet Nam. The AIS4EE project is funded by the EU as a part of the EU-Viet Nam Sustainable Energy Transition Program* (SETP), hosted by the MOIT. The AIS4EE’s Accelerator program is organized in collaboration with Touchstone Partners. 

By promoting investment in energy efficiency startups, the program aims to support the Viet Nam National Program on Energy Efficiency and Conservation for the period 2019-2030 (VNEEP 3), which targets to achieve 8-10% savings in total national energy consumption by 2030 and contribute to Viet Nam’s net-zero commitment. 

Youth teams joining the AIS4EE’s accelerator program

Learn more about the cohort and the AIS4EE’s accelerator program at: https://rebrand.ly/AIS4EEcohort 

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