Vietnamese startups drive growth in circular economy

Vietnamese startups drive growth in circular economy

After more than seven months, the “Towards Zero Waste Accelerator” concluded with a high-profile Demo Day on April 4, where 10 selected green startups pitched their circular business models to over 100 consultants, businesses, and organisations in Ho Chi Minh City.

Mira Nagy - Go Circular Programme Implementation Manager in Vietnam, GIZ representative shared about the significance of the Towards Zero Waste project

The initiative is supported by the German Federal Ministry for Economic Cooperation and Development (BMZ) through the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), under the global “Go Circular” programme. BambuUP and Schoolab Asia are the local implementing partners in Vietnam.

Speaking at the event, Mirra Nagy, manager for the Vietnam component of the “Go Circular” initiative, said the accelerator builds on GIZ’s global experience in supporting circular economy initiatives.

“It is also part of the long-standing collaboration between Vietnam and Germany, which celebrates 50 years of diplomatic ties this year. The startups at this event exemplify creativity, commitment, and resilience, redesigning how we produce and consume for a sustainable future. These founders represent a wide range of circular business models, from waste reduction to sustainable supply chains and new economic approaches, addressing diverse sectors such as plastics, textiles, organics, and electronics,” Nagy said.

The Towards Zero Waste Accelerator is a comprehensive, hands-on programme designed to scale up pioneering solutions contributing to Vietnam's circular economy.

Out of more than 100 applications, 10 startups were selected for their innovative work in reducing textile, plastic, and organic waste across sectors including agriculture and fisheries.

These startups received personalised, one-on-one mentorship to refine their products, improve market fit, and accelerate growth in support of Vietnam’s green transition. Along the way, founders strengthened their business skills, secured strategic partnerships, and evaluated the social and environmental impacts of their solutions.

The Demo Day marked a key milestone, with the selected startups presenting their progress to investors, government representatives, and industry leaders. Held in collaboration with Saigon Innovation Hub under the Ho Chi Minh City Department of Science and Technology, the event also featured five standout startups from the Green Innovation Contest.

A Crowd-Rating activity allowed attendees to vote for their favourite startup pitch. Following 15 presentations, the three startups awarded “Most Popular Sustainable Startup at Demo Day” were Wesolife, Enfarm, and Lemit Foods. Wesolife offers a technology using electrolysis to produce chlorine from seawater, providing safe, chemical-free water treatment for shrimp farmers. Enfarm provides an AI-based soil sensor solution that reduces fertiliser waste and improves farming productivity while minimising environmental impact. Lemit Foods is a food-tech venture turning young jackfruit into high-value plant-based products such as jackfruit pate and spring rolls.

Several cooperation agreements were signed during the event, focusing on reducing textile waste and improving market access for organic waste solutions.

Nguyen Huong Quynh, CEO of BambuUP, one of the programme’s implementing partners, highlighted the initiative’s achievements.

“From 120 applications, 10 innovative solutions were selected from seven provinces and cities, including five women-led projects. Over the course of the programme, 16 in-depth workshops were conducted, reaching more than 880,000 people through social media,” Quynh said.

With the Demo Day, the Towards Zero Waste Accelerator officially concluded its core activities in Vietnam, making a notable contribution to the promotion of circular business models and the sustainable development of the country’s economy.

VIR