[Asia Economy Reporter Minji Lee] Korea Exchange announced that it will hold the "1st KRX Financial Big Data Utilization Idea Competition" starting from the 27th to discover innovative business models in the information business sector.
This competition is the first contest by the Exchange in the data field, aiming to discover new value in capital market data and to find information products and services based on creative ideas.
Participants can submit idea proposals and data analysis results using not only the capital market data owned by the Exchange but also various data such as public data.
The Exchange plans to select about 10 teams for the finals through preliminary screening. Then, each team will submit reports and presentation materials (PT) for the final evaluation, and finally, a total of 5 teams will be selected to receive prizes: 1 grand prize winner, 2 excellence award winners, and 2 encouragement award winners. If any winning work is judged to have high business potential, the Exchange plans to promote it as a new information business in collaboration with the winning team.
Eligibility is open to anyone regardless of individual (student, worker) or corporation status. Teams must be composed of no more than 5 members. To participate, applicants must apply on the competition’s dedicated website and submit proposals and proof of concept results.
The Korea Exchange stated, "We hope that through this event, fresh ideas and services will be discovered and utilized as actual business models."
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