Startup 'Gaeul League'... Successive Stages to Compete Skills

Starting with the Jeong Ju-young Startup Competition on the 7th of next month, continuing through ComeUp 2024

Significant stages where promising startups are evaluated for their business potential are being prepared one after another. These competitions, held annually around this time, have established themselves as the 'Autumn League,' selecting companies with high potential to grow into unicorns. From next month's 'Jeong Ju-young Startup Competition' to 'COMEUP 2024' in early December, a fierce battle among startups that have honed their business models through tough competition is expected to unfold.

The Asan Nanum Foundation announced on the 30th that it is preparing the demo day for the 'Jeong Ju-young Startup Competition,' a debut stage for various startups that can create a better world based on entrepreneurship. Held at the COEX Auditorium in Seoul on the 7th of next month, this competition marks its 13th edition this year and has been recognized as a cradle of unicorns, having produced many promising startups such as MyRealTrip, Classting, and Doodlin.

This year, startups that overcame a competition ratio of 47 to 1 have been preparing to take the stage. Twenty prospective startup teams in the 'Challenge Track' and ten early-stage startups in the 'Growth Track' were selected from various fields including healthcare, mobility, content, and education, and participated in a six-month acceleration program. Among them, 12 teams advanced to the demo day finals after evaluation. The winning teams will receive a total prize of 240 million KRW and opportunities for investment attraction. Notably, Seo Jung-jin, Chairman of Celltrion, will deliver the keynote speech at this competition, sharing his startup and challenge stories with junior entrepreneurs, which has drawn attention.

The largest startup event in Korea held last year, 'ComeUp 2023' (Photo by Yonhap News)

On December 11 and 12, the global startup festival 'COMEUP' will be held at COEX in Seoul. COMEUP, the largest startup festival in Korea, was initiated by the Ministry of SMEs and Startups in 2019 and has been organized by the Korea Startup Forum in the private sector since 2022.

The main event of COMEUP, the startup selection competition 'COMEUP Stars 2024,' recently finalized the teams that will take the stage after preliminary rounds. A total of 1,208 companies applied, with 100 early-stage startups given the opportunity to participate in the 'Rookie League' and 20 prospective entrepreneurs in the 'Runners League.' Among them, 40 teams were selected, including 30 from the Rookie League and 10 from the Runners League. A total of 50 teams, including 10 recommended by the advisory committee, are expected to appear on the main stage. These startups will compete in the public investor relations (IR) pitching session called 'Startup Valley.' Finalists will receive various benefits such as business matching with prominent domestic and international investors and global companies.

Han Sang-woo, Chairman of the Korea Startup Forum and advisory chairman of COMEUP 2024, said, “COMEUP Stars 2024, which will appear on the main stage, is characterized by being composed mainly of cutting-edge industries leading global tech trends such as information security and token securities.”