The 1st DDM Union Youth Startup Idea Challenge Successfully Concluded

Dongdaemun-gu Partners with Kyung Hee University, University of Seoul, and Hankuk University of Foreign Studies to Discover and Support Young Entrepreneurs
Supporting a Total of 124 Teams... 5 Teams with Outstanding Startup Ideas Awarded

Dongdaemun-gu, Seoul (Mayor Ilpyeong Lee) hosted and Kyung Hee University, University of Seoul, Hankuk University of Foreign Studies, Dongdaemun-gu Startup Support Center, and DDM Youth Startup Center Unicorn jointly organized the "1st DDM Union Youth Startup Idea Challenge," which successfully concluded on the 27th of last month.

The "DDM Union Youth Startup Idea Challenge," held for the first time this year, was an event organized by startup incubation institutions within Dongdaemun-gu to discover and support young people with outstanding startup ideas and to revitalize the youth startup culture in the region.

The competition targeted young people aged 19 to 39 interested in startups, with a total of 124 teams applying. Among them, 10 teams that passed the document screening advanced to the final presentation round.

The finals, held on the 27th of last month at the "DDM Youth Startup Center Unicorn," were divided into two parts: the first part was the presentation judging, and the second part was the awards ceremony. Additionally, Woojin Kim, CEO of Business Canvas and selected as a Forbes Korea 2030 Power Leader, gave a special lecture titled "Understanding Startups and Entrepreneurial Spirit," providing young people with practical knowledge and know-how about startups.

The prestigious Grand Prize (Dongdaemun-gu Mayor's Award, prize money of 2 million KRW) was awarded to the "FabricDuct" team, who participated with an idea for manufacturing cooling, heating, and air-conditioning ducts using industrial textiles. The "Stellup" team, offering the AI-based Korean speaking learning service "Hangeulling," won the Excellence Award (Dongdaemun-gu Mayor's Award, prize money of 1.5 million KRW).

The Outstanding Awards (3 teams), each receiving the President's Award from three local universities and prize money of 600,000 KRW, were given to the "HealingHeart" team, a nationally certified visual impairment massage therapist brokerage platform; the "Prafit" team, an AI-based automated real estate asset management platform; and the "Gongsang" team, a personalized interior recommendation solution.

The 10 teams that advanced to the final presentation round also received follow-up support benefits such as ▲startup space support and ▲priority points for moving into the hosting startup incubation institutions.

Ilpyeong Lee, Mayor of Dongdaemun-gu, said, "This Youth Startup Idea Challenge was a new attempt conducted in cooperation with three prestigious universities?Kyung Hee University, University of Seoul, and Hankuk University of Foreign Studies?and I believe it has become a stepping stone for young entrepreneurs to leap forward." He added, "Going forward, Dongdaemun-gu will continue to join forces with local universities to be a strong support for the passion and dreams of young entrepreneurs."