Jeong Ju-young Startup Competition Selects 30 Teams... Entering Business Execution Stage

Record High Team Applications This Year
47 to 1 Selection Competition Ratio Achieved

Asan Nanum Foundation announced on the 17th that it has finalized the selection of 30 teams to compete in the 13th Jeong Ju-young Startup Competition (Jeongchanggyeong), which discovers promising startups nationwide.

In this Jeongchanggyeong, a total of 30 startup teams from various fields such as healthcare, mobility, content, and education were selected, overcoming a high competition rate of 47 to 1. Ten early-stage startups will participate in the ‘Growth Track,’ and 20 pre-startup teams will join the ‘Challenge Track.’

The selected teams will participate in the business execution phase for the next six months and receive various benefits such as office space, seed money, expert consulting, and mentoring. The selected teams will move into the ‘Maru Seed Zone,’ a short-term office space for resident companies within the startup hub MARU located on Yeoksam-ro, and receive initial business funds of 8 million KRW and 3 million KRW for the Growth Track and Challenge Track teams, respectively. Additionally, 30 representatives of the selected startups will have the opportunity to learn sector-specific insights and know-how through regular networking with mentors composed of leading domestic venture capitalists, accelerator partners, and senior entrepreneurs.

The selected teams of the 13th Jeong Ju-young Startup Competition are taking a group photo at the workshop.

After the six-month business execution period, Asan Nanum Foundation will conduct a preliminary evaluation and select 12 finalist teams to advance to the demo day in November. The final teams will present their business pitches on the demo day stage held in November. Prize money totaling 240 million KRW will be awarded to the winning teams.

Cheon Seong-woo, head of the Startup Team at Asan Nanum Foundation, said, “This year, the Jeong Ju-young Startup Competition received the highest number of applications ever, allowing us to meet various teams during the selection process and reaffirming the strong interest in Jeongchanggyeong as a gateway for startups,” adding, “Asan Nanum Foundation will spare no support to help the selected teams freely challenge themselves and grow over the next six months.”