Busan City to Hold 'Startup Idea Competition'... Recruiting Participants Until July 15

Busan's Leading Startup Introductory Event: Promoting Startup Culture and Discovering Promising Future Entrepreneurs

Open to All University Students Nationwide and High School Students in Busan, Ulsan, and Gyeongnam... Apply via Busan Startup Portal

Busan Metropolitan City will be recruiting participants for the '10th Busan Startup Idea Competition' from June 17 to July 15.

Poster for the 10th Busan Startup Idea Competition.

This competition, which began in 2015, celebrates its 10th anniversary this year.

The event is hosted by the city and jointly organized by Busan Economic Promotion Agency, Pusan National University, National Pukyong University, and Busan Catholic University.

This competition serves as Busan's representative entry-level startup event, designed to help students with entrepreneurial aspirations turn their brilliant ideas into business models. The goal is to spread a culture of entrepreneurship and discover promising future entrepreneurs.

Any university student nationwide or high school student in the Busan, Ulsan, and Gyeongnam regions with a startup idea related to the city's nine strategic industries or innovative technologies can participate. Teams of 2 to 6 members can apply through the Busan Startup Portal by July 15.

Busan's nine strategic industries include digital technology, energy technology, bio-health, future mobility, convergence components and materials, lifestyle, marine, finance, and culture and tourism.

After a document screening, 30 teams will be selected for the first round and receive practical pitching training. Through a preliminary evaluation, 10 teams will be chosen to advance to the final competition. Following an idea mentoring program, the final winning teams will be determined at the finals on September 4.

In the finals, a total of 10 teams?7 from the university division and 3 from the high school division?will be awarded, with a total prize pool of 15.8 million KRW.

Additionally, the idea advancement (mentoring) program for the finalist teams will be tailored based on prior demand surveys by field, ensuring the competition is even more substantial and meaningful.

Up to last year, a total of 709 teams and 2,729 students have participated in this competition.

Last year, the 'Ecotect' team, a joint team from POSTECH and Incheon National University, won the grand prize with their '100% biodegradable buoy based on mycelium' item.

Kim Sungjo, the city's Director of Financial Startup Policy, said, "Through this startup idea competition, we aim to discover promising entrepreneurs who will lead Busan's future," adding, "We hope that many teams with innovative ideas will participate in this year's competition as well."