Aspiring Vietnamese Entrepreneurs Show Their Skills at the 2020 FedEx Express/Junior Achievement International Trade Challenge
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, together with Junior Achievement (JA) announced the six winners of the FedEx Express/Junior Achievement International Trade Challenge (FedEx/JA ITC) in Vietnam. The winners will represent Vietnam in the FedEx-JA ITC Asia Pacific finals which will be held March 2021. This annual FedEx/JA ITC regional competition aims to nurture the entrepreneurial spirit and skills of students and introduce them to the fundamentals of global trade.
The six students who will advance to the Asia Pacific FedEx/JA ITC are:
- Team SCHOON
Name of students: Nguyen Ngoc Phuong Trang, Mai Thu Trang
Product presented: Water filter bottle
- Team TFD
Name of students: Nguyen Bao Chau, Nguyen Vu Ha Anh
Product presented: “Upcycling me!” workshop experience tour
- Team Wil’Da Empire
Name of students: Nguyen Huong Thom, Nguyen Hoang Phuc
Product presented: SEEG – a website which allows online users to access the world of 3D models simulating the actual structures, buildings and sites in Cambodia
These three teams will advance to represent Vietnam in the regional competition where they compete against students from nine Asia Pacific markets. The 2020 Vietnam ITC challenged students to create a market entry strategy for a travel product targeted for the Cambodian market. Due to the COVID-19 pandemic, this year’s FedEx Express / JA ITC Vietnam competition was held virtually for the first time since the competition began in 2012. Since the launch in October 2020, the ITC program has attracted 412 student participants from 36 schools in Hanoi and Ho Chi Minh City.
At the FedEx / JA ITC Vietnam finals, the top 12 shortlisted teams presented their market entry business plans for a travel product with Cambodia as the target market to a judging panel. The students developed these proposals by applying the insights and knowledge gained from the virtual workshops, to incorporate value proposition, pricing strategies, market opportunities and distribution channels in their proposals. Representatives from FedEx Express and Junior Achievement served in the panel of judges to assess the ideas based on the originality of concept, feasibility of strategy, and thoroughness of research for each business proposal.
“We’re impressed by the creativity and innovative ideas shown at the Vietnam International Trade Challenge, especially given the virtual format this time,” said Hardy Diec, managing director, FedEx Express Indochina. “Through the ITC program, we hope to create more possibilities for entrepreneurs by sharing the benefits of global trade, real life experiences and the fundamentals of business. We see great potential in the next generation of entrepreneurs to build solutions, and services that solve problems and delivers positive changes for communities not just in Vietnam but around the world.”
The Board of Judges awarded Nguyen Thi Giang Ngan from Hanoi Academy International Bilingual School and student named Duong Quang Huy from Vinschool with the Golden Key scholarship. Giang Ngan and Quang Huy was recognized for their creative ideas and high impact presentation. The scholarship, sponsored by The University of Greenwich (Vietnam), aims to nurture talented students in international business, start-up or innovation competitions. The two winning students will each be awarded a VND40,000,000 grant that can be utilized toward studying at the University of Greenwich (Vietnam).
The FedEx/JA ITC program provides these aspiring youth entrepreneurs with the opportunity to gain a solid foundation on which to build future careers in business.