Following the success of previous editions, Net Zero Challenge 2025, Vietnam’s largest climate innovation competition, has officially launched its third edition. Co-organized by Touchstone Partners and Temasek Foundation, this innovation challenge is in partnership with the Ho Chi Minh City Institute for Development Studies (HIDS) and supported by a global network of innovation partners.
In 2025, participating teams will compete for a total prize pool of VND15 billion in non-dilutive cash grants awarded to the three winning pilot solutions. Additional investment and in-kind support will be provided by the challenge’s partners, totalling over VND6 billion in additional prizes.
This year’s program is supported by leading corporates and venture capital firms with a focus on climate and deep-tech innovation. Strategic partner GS Engineering & Construction joins the Challenge for the first time. Key investor partners include Touchstone Partners as well as Investible, an early-stage venture capital firm headquartered in Australia with strong presence across Southeast Asia, and AiViet Ventures, a Vietnam-focused VC firm backing high-impact tech-based startups. Amazon Web Services is also a Knowledge Partner of the Challenge, providing in-kind support for the startups.
The Net Zero Challenge serves as an annual global platform that bridges high-potential climate innovators with investors, corporations, and public sector leaders. Beyond the catalytic funding, the program offers winning teams the opportunity to test and validate their technologies through pilot projects in Vietnam, laying the foundation for long-term commercialization and regional scalability.
The mission of Net Zero Challenge aims to address the funding gap in climate solutions and foster collaboration in Vietnam. In partnership with Temasek Foundation, Touchstone Partners will also provide local mentorship and strategic partnerships to startups on top of the investment prizes. Besides the co-organizers, the judging panel will include local corporates supporting sustainability goals as well as regional venture capital funds.
Ms. Tu Ngo, General Partner of Touchstone Partners, said: “Investing in early-stage climate technology solutions often presents considerable opportunities for impact. Given the long development timelines and uncertain commercialization pathways, to accelerate climate innovation, Touchstone Partners, in partnership with Temasek Foundation, has adopted a grant-based approach to support founders in piloting their innovations without the immediate pressure of traditional venture capital.”
Ms. Heng Li Lang, Head, Climate & Liveability at Temasek Foundation, said: “Tackling the climate crisis requires bold action – and it starts with backing innovative solutions at an early stage. Through the Net Zero Challenge, we hope to deepen partnerships and collaboration across sectors and geographies, and enable promising solutions to scale and deliver meaningful impact – particularly where the need is most urgent, on the ground. This is pivotal in building a climate-resilient future, collectively.”
Net Zero Challenge was inaugurated in August 2023 and has been a driving force in enabling global climate-tech solutions to pilot in Vietnam. In 2024, the competition received 500 applications across 55 countries and concluded with a Grand Finale event, held together with a Policy Dialogue Roundtable bringing together international investors, government leaders and key stakeholders in the climate technology space.
Last year, the Net Zero Challenge awarded three winners:
- CO2L Tech (Canada): Cost-competitive CO2 capture and utilization to produce valuable chemicals with up to 90% less carbon footprint
- Bygen (Australia): Biodegradable antimicrobial coating and packaging made from upcycled food waste to reduce post-harvest loss by at least 20%
- N&E Innovations (Singapore): Producing sustainable activated carbon from agriwaste at 60% lower production cost
To be eligible, teams must develop a minimally viable product (MVP) and have obtained proof of value with the intention of commercialization. The teams can be start-ups, research teams, corporate projects, and non-profits that are ready for a large-scale pilot that can pave the way for scalability. International teams that have commercialized their solutions elsewhere but want to develop a strategic partnership in Vietnam are also welcome to apply.
The application opens on July 15 and will close on September 1. Full details and application timeline are available at: https://netzerochallenge.vn
