Registration Open Until April 10 for the 'Busan Startup Investment Competition'

Busan City Hall

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Jonghyo] Busan City is recruiting promising startup companies nationwide to participate in the Busan Startup Investment Competition '2020 B-Startup Challenge' from March 23 to April 10.

This competition offers a total investment of 200 million KRW and targets startup companies established within the last five years nationwide. It is the only nationwide startup investment attraction competition jointly hosted by Busan City, Busan Bank, and Busan Cultural Broadcasting, and organized by the Busan Economic Promotion Agency.

The competition investment funds total 200 million KRW, with 100 million KRW for the grand prize, 50 million KRW for the excellence award, 30 million KRW for the outstanding award, and two special awards of 10 million KRW each, all fully funded by BNK Busan Bank.

The three winning companies will be granted eligibility to advance to the finals of the Ministry of SMEs and Startups' 'Challenge K-Startup.' Two companies wishing to enter the Chinese market will also be supported to participate in the global finals of the '8th Dongsung Trophy' hosted by the Dongsung Accelerator in Beijing, China, in December. Additionally, the ten companies advancing to the finals will be granted residency at the 'Public-Private Joint Coworking Space (tentatively named "Bigs")' scheduled to open in July.

A Busan City official stated, “The companies that won the first competition last year are experiencing explosive growth through various follow-up investments,” and added, “We ask for the interest of excellent startup entrepreneurs nationwide in this competition, which is an opportunity to showcase unlimited potential and growth possibilities.”

Applications for the competition will be accepted online through the Busan Economic Promotion Agency Startup Support Center website until April 10. After document screening in April and face-to-face screening and preliminary competition in May, the final ten companies will advance to the finals held on June 5 at Nurimaru in Haeundae.

The city plans to hold an explanatory session on its official YouTube channel (Busan News) on the 1st of next month. For more details, inquiries can be made to the Busan City Job Startup Division or the Busan Economic Promotion Agency.

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