Techtronic Industries accompanies the German Business Association in empowering young entrepreneurial talents
On November 6, 2023, Techtronic Industries Vietnam (TTI Vietnam) was honored to collaborate with the German Business Associations and other members of the German Business community to organize the start-up competition "GBA Business Challenge 2023" season IV. After six months of training and evaluation, five finalist teams were selected to present their business start-up ideas on the final pitch day. The event drew attention of German businesses, professors from universities, entrepreneurs, and notably, representatives from TTI Vietnam, including Mr. Alex Nguyen Quang Anh and Mr. Luke Pham Quoc Long, both are Operations Directors of Outdoor Products.
Mr. Luke Pham Quoc Long, Operations Director, Outdoor Products, shared, "I am proud that TTI Vietnam is one of the companies supporting this year’s GBA Business Challenge competition. Having the chance listening to creative ideas from young participants, I believe it has created a healthy competitive environment and opened up many opportunities for skills development, networking, and access to industry experts, thereby fostering success and development in the future."
Launched by the GBA in 2020, the “GBA Business Challenge” aims to support local young talents with promising, forward-thinking ideas, helping them transform their visions into viable businesses. The competition provides participants with entrepreneurial tools, real-life business experience, and a starting fund. The first three editions were highly successful, attracting over 200 diverse business concepts with the potential to positively impact society, the environment, and people in the long term.
This year, the competition focused on addressing social, environmental, and sustainability issues, providing opportunities for young talents to present breakthrough business ideas and tackle real-life challenges. Out of 50 participating teams who underwent a six-month training and evaluation process, five teams from universities nationwide were selected for the final round. These teams made efforts to develop business plans, conduct market research, and create innovative products or services to compete for the top three prizes, with a total prize value of VND 350 million and a 12-month training program provided by experienced experts from the German Business community in Vietnam, in collaboration with Lecturers from the Vietnamese-German University (VGU) and the German Academic Exchange Service (DAAD).
TTI Vietnam is an organization built upon four global strategic drivers: Powerful Brands, Innovative Products, Exceptional People, and Operational Excellence. Among these, Exceptional People is not only a strategy focused on human development but also an inspiration for our company’s support to local talent development. As a Diamond Sponsor and partner of GBA Vietnam, TTI Vietnam encourages and nurtures young generations by creating opportunities for potential young talents to gain practical experiences, attend training program, receive feedback from professionals, develop innovative ideas and have chance to transform their business ideas into reality.
Mr. Alex Nguyen Quang Anh, Operations Director, Outdoor Products, represented TTI to express the pleasure in partnering with GBA for season IV: "The entrepreneurial spirit of our Chairman, Mr. Horst Julius Pudwill, who co-founded TTI in 1985, has inspired us to continue encouraging the entrepreneurship development among the next generations in Vietnam. Through the collaboration with GBA in this “GBA Business Challenge 2023”, we hope that young Vietnamese talent with good business ideas can enhance their skills and knowledge, receive constructive feedback from the Judging Panel and turn those creative ideas into reality, contributing to the thriving economy in Vietnam.”
Torben Minko, Co-Chairman of the GBA, stated, “As a business association, the German Business Association believes that it can make a more sustainable impact by encouraging and mentoring business. The ‘GBA Business Challenge’ is an effort of the GBA to create and support new start-ups, which later can create jobs, income as well as contribute to the economic development of Vietnam in the long term. Through this initiative, we also want to create a connection between the German Business values and Vietnamese entrepreneurship spirit that might open many cooperation and business opportunities in the future.”
Throughout the past three seasons, visionary business ideas from young participants have become reality. The “GBA Business Challenge 2023” season IV, with the partnership of TTI Vietnam, it is expected to continue promoting excellent business projects developed by young talents in this season.