Abivin,
a Vietnamese startup to provide AI-powered Supply Chain Optimization solutions
for enterprises, on May 17 won a prize of $1 million after it was crowned
champion the Startup World Cup 2019 in the US, said the Ministry of Science and
Technology yesterday.
Before,
Abivin had won the first prize at the National Creative Innovation Contest held
last year and became a mere representative of Vietnam to attend the Startup
World Cup 2019 Champion, a global event where startups from around the world
gather in San Francisco, to battle with startups from more than 40 countries
including the US, Canada, Brazil, Japan, India, Singapore, South Korea and
China.
Through
four years of operation, the company has been known for its Abivin vRoute, a
Transportation Management software which enables companies to reduce labor and
energy cost by 40 percent.
Abivin
is trained and matured by the Finland – Vietnam Innovation Partnership Program
Phase 2 (IPP2) and joined series of other programs such as Shark Tank Vietnam,
Techfest Vietnam. It also participated in international program comprising of
Rice Bowl Startup Awards and the latest Startup World Cup 2019.
Founder
of Abivin Pham Nam Long said that Abivin will use the $1 million prize to boost
R&D for its AI-powered logistics optimization solutions. Additionally, the
company will spend the sum on expanding its markets outside Hanoi and Ho Chi
Minh City and entering the foreign markets of Myanmar, Singapore, Thailand,
Indonesia and others.
The
annual Startup World Cup is organised by Fenox Venture Capital with the
participation of experienced investors in Silicon Valley-based global venture
capital firms and in the globe.
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