BNK Busan Bank's B-Startup Challenge Draws Record 312 Participants, Setting New Highs

A Surge of Innovative Startups Nationwide...
Rising Expectations for Equity Investment and Follow-up Support
Equity Investment, Broadcast Promotion, and Incubator Programs:
Supporting Startup Growth as a True Partner

BNK Busan Bank (President Bang Seongbin) announced on the 31st that the 7th Startup Investment Competition, B-Startup Challenge, which is co-hosted by Busan Metropolitan City and Busan MBC and organized by Busan Technology Startup Investment Institute and BNK Venture Investment, has recorded the highest number of participants in its history.

This year’s competition closed applications on July 18, with a total of 312 companies submitting applications. This marks a 77% increase compared to the previous year (176 companies), setting a new record in the competition’s history.

The participating companies are promising startups within five years of establishment, with a large number of innovative businesses from across the country, including 82 from Busan and 129 from the Seoul metropolitan area, representing a variety of fields.

The B-Startup Challenge has established itself as a leading national startup competition platform, offering practical support such as equity investment totaling 300 million KRW, follow-up investment opportunities, broadcast promotion, and participation in BNK Busan Bank’s 'SUM Incubator' program.

In particular, during the previous competition, a total equity investment of 300 million KRW was made in five award-winning companies, and 29 winning companies, including the grand prize winner CIT, collectively attracted more than 26 billion KRW in follow-up investments.

Companies that applied for this year’s competition will undergo a document screening, after which about 30 companies will advance to the preliminary round. Then, through the preliminary screening in August, the final 10 companies will make it to the finals, which are scheduled to be held at BEXCO in September. The finalists will receive equity investment totaling 300 million KRW and various additional support.

Kim Yongkyu, Head of the Business Strategy Group at Busan Bank, said, “This year’s competition saw passionate participation from promising startups nationwide. Busan Bank will continue to discover outstanding startups early and support their investment and growth, thereby contributing to the activation of the regional startup ecosystem.”