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INTRODUCTION

  • The “Young Entrepreneurs Competition (hereafter referred to as the "YEC") is organised to promote innovation and entrepreneurship among young individuals in Vietnam market. The Competition is hosted by LITTLE WALLET CO., LTD and aims to support unique and creative business ideas from young participants

  • Please read carefully the following Little Wallet Young Entrepreneur Competition rules and Terms and Conditions before participating or registering.​

 

REGISTRATION PERIOD

  • The registration period for the Young Entrepreneurs Competition is from 8 August to 30 September 2023.

  • Participation is free.

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PARTICIPANTS' ELIGIBILITY

  • This contest is open to high school students from grade 10-12 in 2023 though exceptional cases might be made for younger students. Contact us at services@littlewallet.co if you wish to register for an exceptional case.

  • Contestants enter the competition as Individuals or Teams.

  • Registration must be submitted online and with parental or guardian consent.

 

ENTRY REQUIREMENTS

  • Participation in the Competition requires submission of applications following specific instructions.

  • Submission guidelines, including format, content, and any other relevant requirements, will be provided.

  • Participants acknowledge and agree to grant rights regarding intellectual property associated with submitted materials.

 

SUBMISSION DEADLINES

  • The Competition will have following timelines:

    • Learning opens: 8 Aug 2023

    • Startup idea registration 1st Sept to 30th Sept 2023

    • Interview round: 12 Oct – 14 Oct 2023

    • Bootcamp: HCMC Oct 21, HN Oct 28. 

    • Pitch-day: HCMC Oct 22, HN Oct 29.

  • Submission deadlines will be based on Vietnam Time Zone.

 

JUDGING CRITERIA

INVESTABILITY. Teams will be evaluated based on the following:

  • Innovativeness

  • Commercial Feasibility

  • Impact of Idea

  • Capability to Execute

 

PRIZES

Prize distribution methods and any tax responsibilities (if applicable) will be outlined.

  • Cash prize: USD8,000 to be distributed among winning teams for 2 regions HCM & HN

  • Scholarships:

    • Scholarships are sponsored by Vin University. 1st-2nd-3rd are 50%-30%-20%  for College of Business & Management or College of Arts and Sciences.

    • Students will need to pass a compulsory interview to determine if they have all the qualities that VinUni is looking for: EXCEL attributes (Empathy-Excellence-Creativity-Entrepreneurship-Leadership). This will be determined by Deans of Colleges. Such interviews will be conducted prior to the pitch day to ensure any winners will be eligible for the scholarships.

    • Scholarships offered have an expiry date (within 1 year)

 

INTELLECTUAL PROPERTY RIGHTS

  • The materials and content submitted by participants within the scope of the Competition shall retain the intellectual property rights of the participants.

  • By participating in the Competition, participants grant the organizing entity and related parties a non-exclusive, royalty-free, perpetual, irrevocable, non-transferable, worldwide right to use, copy, modify, distribute, publish, and display the submitted materials for advertising, marketing, and promotional purposes related to the Competition and associated activities. This right includes the use of names, images, personal information, and any submitted materials.

  • The organizing entity commits to not using the submitted materials for purposes beyond the scope of advertising, marketing, and promotion related to the Competition without obtaining written consent from the participant.

  • Any use of materials and personal information of participants will adhere to the provisions of personal data protection laws in Vietnam and will be carried out with the utmost care and transparency.

 

ADVERTISING AND MARKETING

  • By participating in the Competition, participants grant permission for the use of their name, image, personal information, and submitted materials for advertising, marketing, and promotional purposes related to the Competition and associated activities.

  • The organising entity has the right to use, copy, modify, distribute, publish, and display the name, image, personal information, and submitted materials of participants in advertising, communications, and marketing materials, including but not limited to websites, social media platforms, and printed materials.

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PRIVACY AND DATA PROTECTION

  • Participants understand that their personal data, including names, contact information, and related data, will be collected and processed during their participation in the Competition.

  • The organising entity pledges to protect participants' personal data and comply with personal data protection regulations in Vietnam. Personal data will only be used for purposes related to the Competition and will not be disclosed to any third party without written consent from the participant.

  • Participant's personal data will be stored and processed securely throughout the duration of the competition and after the competition ends, in accordance with legal requirements.

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LIABILITIES AND DISCLAIMERS

  • The organising entity shall not be held liable for any errors, omissions, technical malfunctions, or inaccuracies in the materials provided as part of the Competition.

  • Participants acknowledge that their participation in the Competition is voluntary and at their own risk. The organizing entity does not guarantee the accuracy, completeness, or reliability of any information or materials provided in connection with the Competition.

  • The organizing entity is not responsible for any direct, indirect, incidental, consequential, or punitive damages arising from participation in the Competition, including but not limited to loss of profits, data, or opportunities.

  • The organizing entity reserves the right to disqualify any participant or terminate their entry if there is evidence of fraudulent activity, violation of the Terms and Conditions, or any attempt to manipulate the competition process.

  • The organising entity reserves the right to modify, suspend, or cancel the Competition in the event of unforeseen circumstances or factors beyond its control, without any liability to participants.

 

DISQUALIFICATION AND TERMINATION

  • The organising entity reserves the right to disqualify any participant who fails to comply with the Terms and Conditions, engages in fraudulent activity, or provides false or misleading information.

  • Entries may be terminated if they violate intellectual property rights, contain offensive or inappropriate content, or are found to be in violation of any applicable laws or regulations.

  • Disqualification or termination of a participant's entry is at the sole discretion of the organising entity, and its decision shall be final and binding

 

MODIFICATIONS AND CANCELLATION

  • The organising entity reserves the right to modify the Competition, including its rules, dates, and other aspects, if deemed necessary. Any such modifications will be communicated to participants through appropriate channels, and participants will be bound by the updated Terms and Conditions.

  • In the event of unforeseen circumstances, force majeure, or factors beyond the control of the organising entity, the Competition may be suspended, altered, or canceled. The organizing entity shall not be held liable for any losses or damages resulting from such suspension, alteration, or cancellation.

  • Participants acknowledge and agree that the organizing entity has the authority to take appropriate actions in response to any unforeseen situations that may affect the fairness or integrity of the Competition.

 

GOVERNING LAW AND JURISDICTION

  • The laws of Vietnam shall govern the "Little Wallet the Young Entrepreneurs Competition" and all matters related to it, including the interpretation, enforcement, validity, and performance of these Terms and Conditions.

  • Any disputes or claims arising from or in connection with the Competition shall be subject to the exclusive jurisdiction of the courts in Vietnam.

  • Participants agree to submit to the jurisdiction of the courts in Vietnam and waive any objections to the exercise of jurisdiction over them by such courts.

  • The Terms and Conditions shall be construed in accordance with the laws of Vietnam, and any legal actions or proceedings related to the Competition shall be conducted in the Vietnamese language.

 

CONTACT INFORMATION

For any inquiries, feedback, or requests related to the "Little Wallet - the Young Entrepreneurs Competition," please direct them to the following address:

LITTLE WALLET CO., LTD

Address: Room 908, Miss Ao Dai Building, 21 Nguyen Trung Ngan, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Email: services@littlewallet.co

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All notices and correspondence regarding the Competition must be in writing and sent to the address above. Emails will also be considered if sent from the email address registered in the participant's profile.

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