Benefactor of science researchers, startups

18-Sep-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

Having ventured into multiple sectors with outstanding success, but Vingroup’s development is not purely in terms of business achievements. The major local conglomerate has stepped up its corporate social responsibility (CSR) activities in many sectors, especially science and technology.

The company has recently established Vingroup Innovation Foundation with the primary aim to support individuals and organisations to conduct research on science, technology and innovation, aiming to create positive and sustainable changes for the economy. And all got off to an impressive start for the foundation.

On August 19, the foundation announced a list of 20 science and technology projects that will receive funding totalling VND124 billion, or over $5.3 million.

These breakthrough projects, selected from 200 entries six months after the foundation announced its support for science and technology projects, are expected to bring many benefits to important fields, such as Big Data, biomedical science, genetics research, material science, smart traffic, Internet of Things and image recognition, among others.

Of the total funding, the highest amount assigned to a single project is VND10 billion. It will be spent on salaries for project members and local and international experts; and the purchase of raw materials and tools, equipment for research, international publications and patent registrations.

This is the first year Vingroup Innovation Foundation has started its operations. Vingroup expects to promote the research and application of Big Data, aiming to attract foreign experts to the country.

In addition, the group has announced the establishment of the VinTech Fund under VinTech City, which will spend VND150 billion sponsoring 15 technology and science research projects in Vietnam this year. The VinTech Fund was established to financially support startups that can turn out scientific products with competitive advantages and commercialisation potential.

Truong Ly Hoang Phi, chief executive officer of VinTech City, said that the programme was aimed at responding to the prime minister’s Make-in-Vietnam campaign, lending a helping hand to create more scientific and technological products locally, expand the startup community and assist these startups to gain ground.

The fund establishment had been referred to other funds in the world, such as the United States’ National Science Foundation and National Institutes of Health, the United Kingdom’s Newton fund and Google’s foundation.

In addition to financing science and startup projects, Vingroup has also resorted to other routine CSR activities, such as providing medical checkups, medicines and gifts to the poor.

On August 26 and 27, the group’s Kind Heart Foundation provided free Thalassemia checkup services for 705 people in Quang Minh Commune of Tuyen Quang Province’s Chiem Hoa District. This is the second time the activity has been organised in the commune, after the first time on May 23.

Quang Minh Commune is home to more than 1,500 households, with over 80 percent of them being Tay ethnic people. More than 20 residents in the commune are found suffering from the Thalassemia disease and 10 of them are being treated at the National Institute of Hematology and Blood Transfusion.

An inborn Thalassemia patient needs an average of VND3 billion for treatment from birth to 30 years old. The total amount required for all Thalassemia patients in Vietnam is over VND2 trillion.

In the 2019-2023 period, Vingroup’s Kind Heart Foundation has coordinated with the National Institute of Hematology and Blood Transfusion to provide free consultancy and diagnosis for people in areas with high disease infection rate.

Last month, the Kind Heart Foundation also cooperated with the Ha Nam Red Cross Society to provide healthcare consultancy and medicine for 2,000 poor people in Ha Nam Province.

The foundation has plans to present medicine for 170,000 people in 57 cities and provinces nationwide this year. To date, the programme has been executed in 55 localities, offering medicine for 125,000 people.

Additionally, the foundation has joined forces with the Labour Federation and the Red Cross Society of Hoa Binh Province to give 800 gifts, including clothes, shoes and handbags, to low-income workers in the province’s industrial parks.

Last year, the foundation handed over more than 500 houses of gratitude, valued at a total of over VND27 billion to members of the Vietnam Veterans’ Association. More than 20,000 such houses have so far been handed over under the programme.


Category: Business, Vietnam

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