Gyeongsan, Innovative Startup City, Steps onto the Global Stage

Signing of Mutual Cooperation Agreement for Hosting the Startup World Cup

Gyeongsan City (Mayor Cho Hyunil) signed a mutual cooperation memorandum of understanding on March 3 in the small conference room of the city hall with Pegasus Tech Ventures (the host of the Startup World Cup) and Gyeongsan Innovation Academy Foundation to host the Startup World Cup Korea Regional Qualifier and support the global expansion of local innovative startups.

This agreement was established to successfully hold the Korea Regional Qualifier of the Startup World Cup, the world's largest startup competition, in Gyeongsan, and to connect the global network based in Silicon Valley with the local startup ecosystem.

Gyeongsan City signed a mutual cooperation memorandum of understanding for the Startup World Cup at the City Hall small conference room on the 3rd. Photo by Gyeongsan City

Under the agreement, the three organizations will cooperate closely on the planning, promotion, and execution of the Startup World Cup; jointly work to discover and support promising startups in the region; and provide opportunities to connect with Pegasus’s network of corporate partners and investors.

Through this agreement, the Startup World Cup Korea Regional Qualifier is scheduled to be held on July 15 at the Cheonma Art Center of Yeungnam University. Among the 20 startups that pass the preliminary screening, the final selected company will compete for an investment prize of 1 million dollars on the Grand Final stage in San Francisco against companies from around the world.

Pegasus Tech Ventures is a global venture capital firm based in Silicon Valley, founded in 2011 by engineer-turned-venture capitalist Anis Uzzaman. It supports startup investment, collaboration between large corporations and startups, and operates the Startup World Cup as an innovative entrepreneurship platform, working to expand the global startup ecosystem.

Mayor Cho Hyunil of Gyeongsan City stated, "This agreement marks an important turning point for Gyeongsan's companies and entrepreneurial ecosystem to reach the world," adding, "We will actively support the growth of innovative companies and create an environment where young people can take on new challenges, so that Gyeongsan can stand tall as a central city in the global startup ecosystem."

Gyeongsan City plans to use this agreement as an opportunity to build a cooperative network with global partners based in Silicon Valley, expand regional startup infrastructure promotion, and broaden the foundation for attracting innovative companies, thereby accelerating its leap forward as an 'innovative startup city'.

This content was produced with the assistance of AI translation services.