Recruiting Participating Companies for Nationwide IR Competition to Attract Promising Startups
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Cheonan City in Chungnam is launching the ‘C-Star Awards 2024,’ a project to discover and nurture future unicorn companies.
The city plans to hold the ‘C-Star Awards 2024’ until October, promoting Cheonan’s future unicorn companies (C-Stat) and excellent startup infrastructure to domestic and international startup ecosystems.
Under the slogan ‘Startup, Unicorn Ways With Cheonan,’ this project consists of a nationwide IR (Investor Relations) competition to attract promising startups, global expansion support, investment and purchase consultations, and conferences.
The nationwide IR competition provides investment opportunities through rounds of competitions targeting promising startups across the country, establishing a growth foundation for startups through step-by-step mentoring and technology sharing.
By the 12th of this month, the city will recruit 40 startups through ‘Next Unicorn,’ a platform connecting startup specialized investors, and after preliminary and final rounds, 10 companies will be selected. These companies will receive capacity-building programs such as expert investment attraction training and one-on-one in-depth mentoring.
Subsequently, on October 10-11, participants will compete in the finals by promoting their items and undergoing investment evaluations to startup planners (AC) and venture capitalists (VC) at the ‘C-Star Awards 2024 Conference.’ The four companies finally selected will receive a total of 200 million KRW in commercialization funds.
Additionally, a global expansion support program will be operated in partnership with Plug and Play, the world’s largest startup incubator.
By the 12th, through the Cheonan Science Industry Promotion Agency website and the ‘K-Startup’ portal operated by the Ministry of SMEs and Startups, startups established within 7 years in Cheonan will be evaluated through document screening and the ‘C-Star Awards 2024 Conference’ to select the final three companies.
The three companies selected will be given the opportunity to participate in the Plug and Play Silicon Valley headquarters summit, where about 1,000 overseas investors and promising companies gather, with full support for the entire schedule. They will also receive office support benefits at the Plug and Play Silicon Valley headquarters.
The investment and purchase consultation held at the ‘C-Star Awards 2024 Conference’ will provide participating startups with opportunities to develop business channels, build networks, and attract investment.
Mayor Park Sang-don said, “I hope many startups interested in entrepreneurship will find their dreams and settle in Cheonan through this event,” adding, “Cheonan City will continue to actively nurture startups with innovative ideas so they can grow into future unicorns.”
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