Ten ID: Pioneering in innovative startups responding to climate change
Ten Innovation Design (Ten ID) is one of the leading enterprises of the new generation of Vietnamese enterprises in the dynamic and potential innovative business: Creativity in response to climate change.
As one of 32 businesses that received financial and non-financial support from VCIC in the period 2016 - 2017, Ten ID turned ideas into practical results by providing innovative shrimp supply chain solutions. in Vietnam “Smart pond control system” and called for USD 995,000 private investment for development and commercialization.
This system was developed by three technology entrepreneurs (Tuan Le, Tien Nguyen, Anh Nguyen). The project was awarded the "Proof of Idea 2" Contest (PoC2) held by VCIC in mid-2017 with a primer capital of 50,000 USD and support for construction capacity and market access consulting. After that, Ten Innovation Design Co., Ltd. was established to professionalize business activities.
With the support of VCIC, Ten ID has perfected technology based on artificial intelligence and IoT applied to shrimp farming. A high-tech shrimp farming approach such as adjusting feed patterns and pond environment increases climate resilience with higher survival rates, better quality and energy savings to increase profits for farmers. In particular, the system of Ten Innovation Design provides integrated solutions to optimize the supply chain, create additional profits for market components by bypassing intermediaries, and forecast market trends.
With an innovative and environmentally friendly idea and high profit potential, Ten Innovation Design received an investment of USD 645,000 from a Vietnamese private equity fund and USD 350,000 committed from a Dutch investor. to further develop the business model and technology.
“VCIC has been with us and has made a great contribution to successfully raising capital through supporting activities to promote and connect with investors as well as adjust our business development strategy,” Mr. Tuan Le, Director of Ten Innovation Design shared.
Initial trials in Soc Trang province have shown that 'Smart Pond Control System' technology increases shrimp survival rates from less than 50 to 80% per year, improving product quality and saving more than 30 % of energy used in production.
Ten ID has an ambitious goal of becoming one of the leading players in this field in Southeast Asia by 2023 with 5,700 operating systems.
The company's ambition also stems from the effective support of VCIC as an incubator and promoter of domestic enterprises in innovation and green growth.
Vietnam has set a target of 50% of Vietnamese enterprises to apply green production technologies by 2020. With the above target, the World Bank Group estimates that Vietnam's clean technology market will require up to 19 investments. billion dollars.
This means that local entrepreneurs like Tuan Le, Tien Nguyen and Anh Nguyen of Ten ID will gradually become the center of innovative technology and business model development in technology-related fields. climate to support the development of Vietnam's economy, create jobs and increase industrial competitiveness.