The Final Competition Will Combine University and High School Divisions
A Total of 10 Teams Will Receive 61.5 Million KRW in Prizes
The city of Busan (Mayor Park Hyungjoon) began accepting applications for participants in the '11th Busan Startup Idea Competition' from June 30 to July 24.
This competition, which began in 2015, is being held for the 11th time this year. The event is hosted by the city and co-organized by the Busan Institute of Technology and Startup Investment, along with seven universities: Kyungsung University, Tongmyong University, Dong-A University, Dongseo University, Dong-Eui University, Pusan National University, and Korea Maritime and Ocean University.
Having established itself as Busan's representative entry-level startup event, this competition aims to help students aspiring to become entrepreneurs turn their ideas into business models and discover promising entrepreneurs through hands-on startup experience.
The competition is open to university (including graduate) and high school students nationwide. Any team of 2 to 6 members with a startup idea related to Busan's nine strategic industries or innovative technology sectors is eligible to participate.
After a document screening, 30 teams will be selected. These teams will participate in an idea advancement program, after which 10 teams will be chosen to advance to the preliminary round. Following practical investment attraction training, the final award-winning teams will be selected at the main stage, which will be held in conjunction with 'FLY ASIA 2025' in September.
The finals will be held as a combined event for both university and high school divisions, with a total of 10 teams advancing to the final round. The grand prize winner will receive the Mayor of Busan Award, and a total of KRW 61.5 million in prizes will be awarded, including a KRW 15 million grand prize. Teams that pass the document screening and advance to the finals will also be provided with practical capacity-building programs, such as startup mentoring and pitching training.
To date, a total of 816 teams and 3,125 students have participated in this competition. Last year, the 'Keepu' team from Pukyong National University won the grand prize with their portable air splint (AIR SPLINT) item, which utilizes carbon dioxide cartridges.
Nam Dongwoo, Director of Financial Startup Policy for Busan City, emphasized, "This competition is more than just a contest; it can serve as a stepping stone for entering the startup ecosystem," adding, "We hope that many students with innovative ideas will take on the challenge."
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