Korea Credit Guarantee Fund, 4.0 Startup Competition... Total Prize Money 21 Million Won

Discovering Innovative Startups with Core Technologies of the 'Korean New Deal'
Total Prize Money of 21 Million KRW, Support Benefits Including Guarantee and Investment Convergence Services

[Asia Economy Reporter Park Sun-mi] The Korea Credit Guarantee Fund announced on the 22nd that it will hold the ‘2020 Korea Credit Guarantee Fund 4.0 Startup Competition’ to discover outstanding startups possessing core technologies and innovative business models based on the Korean New Deal.

The contest category focuses on the utilization of core technologies related to the ‘Korean New Deal.’ The target participants are excellent startups engaged in representative projects related to the ‘Korean New Deal’ or those possessing core business models for carrying out ‘Korean New Deal’ projects. The application deadline is October 21.

The Korea Credit Guarantee Fund plans to select a total of six winners through first and second document screenings and a final presentation review in November: one grand prize winner, one excellence award winner, two merit award winners, and two encouragement award winners, with a total prize money of 21 million KRW.

In addition, winners will receive financial support such as guarantees, investments, and insurance, as well as non-financial support including consulting and networking. Various benefits will also be provided, such as exemption from document screening for the excellent startup nurturing program ‘Startup Nest’ and recommendations for the ‘U-Connect Series’ to attract external investments.

A representative from the Korea Credit Guarantee Fund said, “We expect this startup competition to be a great opportunity to discover innovative startups in the Korean New Deal sector that will overcome the economic crisis caused by COVID-19 and lead national economic growth in the post-COVID era.”