Recruiting Startups for Jeong Ju-young Startup Competition and NH Digital Challenge Plus Participation
[Asia Economy Reporter Kim Cheol-hyun] Private support programs aimed at discovering promising startups are being launched one after another. By providing support programs tailored to workspaces and growth stages, these initiatives are attracting significant attention from startups.
The Asan Nanum Foundation is hosting the 10th Chung Ju-yung Startup Competition to discover prospective entrepreneurs and startups nationwide. The Chung Ju-yung Startup Competition is a practical support program for startups that began in 2012 and has produced many promising startups such as MyRealTrip, Deepmedi, and Classum.
The competition proceeds over six months through recruitment and screening, business execution, and a demo day. After the first round of document screening and the second round of interviews, 12 teams advancing to the business execution stage will carry out their actual business for 14 weeks starting in May. During this stage, teams can use office space at 'Maru180,' the startup support center operated by the Asan Nanum Foundation. They will also receive dedicated mentoring from experts at leading domestic venture capital firms and accelerators. Teams that advance to the demo day and win awards will receive a total prize of 165 million KRW. All winning teams will be supported with follow-up investment opportunities such as recommendations to venture capital investors and advice related to angel matching funds, as well as benefits for Maru180 resident companies, including global expansion and promotional marketing support.
Shared office space provider SparkPlus is recruiting the 5th cohort for NH Nonghyup Bank’s startup acceleration program, 'NH Digital Challenge Plus,' until the 24th. This acceleration program by NH Nonghyup Bank supports promising startups leading digital innovation. Since the 3rd cohort last year, SparkPlus has joined as an operating partner of NH Digital Challenge Plus, taking the lead in nurturing startups in the digital innovation sector for growth and investment attraction.
Selected companies will be offered opportunities such as business partnerships with Nonghyup affiliates, participation in demo days, and early-stage investment for outstanding companies. Additionally, for a basic period of six months, private offices and meeting rooms within the Yangjae NH Digital Innovation Campus will be provided as workspaces, along with mentoring and other nurturing programs necessary for business operations.
Startup accelerator FuturePlay, together with automotive parts specialist Mando, is conducting 'Mando Mobility Tech-Up Plus Season 3.' Since its first season in 2018, this program has established itself as a nurturing program discovering promising startups in the future mobility sector. This initiative is a joint effort between a large corporation and an accelerator to discover and nurture startups, aiming to support systematic growth of startups.
Through this program, Mando expects collaboration with startups based on new technology trends related to mobility, such as autonomous driving, electric vehicles, charging solutions, and mobility platforms. Related startups will have the opportunity to apply their technologies through collaboration with stable business partners. The startups selected in the final round will receive initial investment, workspace, various training, and mentoring support from FuturePlay for about six months. They will also receive mentoring from Mando employees, support for in-house infrastructure, and follow-up investment assistance.
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