Maritime and Port Sector Eases Entry Barriers for Youth Startups... BPA Recruits Participants for ESG Startup Hackathon

Busan Port Authority, ESG Startup Hackathon Promotional Poster.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Busan Port Authority (BPA) and the four port authorities of Incheon, Ulsan, Yeosu·Gwangyang will jointly hold the "4th ESG Startup Hackathon Event" on November 10 and 11.

The ESG Startup Hackathon is an event aimed at discovering and nurturing startup ideas by integrating the ESG concept into related fields such as shipping, ports, and logistics.

The competition proceeds with participants forming teams to derive business ideas and implement business models.

The "Startup Hackathon," jointly hosted by the four port authorities, started with Busan Port Authority in 2019 and is now in its 4th edition, to be held this year by Ulsan Port Authority.

Unlike previous events, this event incorporates ESG themes such as ▲ESG ▲carbon neutrality ▲regional balanced development ▲innovative growth ▲4th industrial revolution, and companies with startup ideas fitting these themes or those needing a testbed (POC) at port facilities can participate.

Applications are open from the 26th until October 21 on the website, and after document screening, 12 teams will be selected: 4 teams for idea discovery, 4 teams for commercialization support, and 4 teams for market access support.

The selected teams will refine their ideas and business activities (IR) through workshops, education, and mentoring, and present them at the ESG Startup Hackathon finals held in Ulsan.

At the finals, 4 teams will be chosen as winners and awarded, and the four port authorities will discuss providing follow-up support such as on-site testbed provision.

Kang Jun-seok, BPA President, said, "Until now, the shipping and port sectors have been perceived as difficult fields for many young people hoping to start a business," and added, "We ask for active participation from young people with diverse ideas so that this event can serve as an opportunity to lower the entry barriers for youth startups."