Many of the concepts submitted to the Vietnamese Talent Awards over the years have been widely used in daily life and provided substantial profits.

"For 11 years, many people have used the Vietnamese Talent Awards as their launchers to success," said Nguyen Long, general secretary of Vietnam Information Technology Association and one of the judges for the Vietnamese Talent Awards this year.

In 2007, the AI Vietnam Group won first prize for their online learning and exam product. After that, the group secured various contracts with firms and state departments, becoming the leading group in providing online training in Vietnam.

The Money Lover project, which won first place for best mobile app for financial management and friendly interface gradually found its place and has been installed on 1.5 million devices in 22 countries. It's also the winner in the Best Disruptor category at the Vietnam Rice Bowl Startup Awards 2016.

The websosanh.vn team had to end their race after being selected as one of the top 18 products for the final round. But the inventors successfully attracted investors and garnered interest. Last year, South Korea's Yello Shopping Media Group invested millions of dollars to develop a website which helps consumers do a cost comparison on products.

Vu Quang Trung, director of Websosanh Company

GotIt!, an app that connects learners with study experts who offer step-by-step help through their homework, founded by Dr. Tran Viet Hung, has become the top ten most downloaded education apps on iOS and Android in the US.

Hung has participated in many contests, including the Vietnamese Talents Award to collect prize money to realise his idea. Many experts across the world are now hired to work with GotIt with high salary.

People have had many chances to spread the ideas to more investors, gain experience from other experts and have more opportunities to start their projects, no matter if the project won prizes or not.

Tran Trong Tuyen, CEO of DKT Technology Company (right)

Tran Trong Tuyen, CEO of DKT Technology Company said their product, Bizweb, had come a long way ever since it won third place at the Vietnamese Talent Awards in 2013 for best online shopping software using cloud computing technology.

"We've expanded business to other countries in the South East Asia and have good results in Indonesia and Philippines. Winning at Vietnamese Talent Awards provided outstanding development opportunities if people know how to use the media to promote along with effective sales strategies," he said.