Busan 'Overnight 2-Day Startup Competition' to Hold Non-Face-to-Face Preliminary Round This Year

'6th Busan Startup Idea Competition' Participants Recruitment Until September 11
15 Teams to Compete in Finals at Arpina on October 23 ... Nationwide High School and University Students Eligible

Changes in this year's Busan Startup Idea Competition.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City and the Busan Economic Promotion Agency are recruiting participants with innovative startup ideas from young people nationwide for the "6th Busan Startup Idea Competition" until September 11.

This competition, with a total prize of 24 million KRW, is open to high school and university students nationwide.

It is Busan's representative startup festival, held for the sixth time to spread startup culture and to discover promising future entrepreneurs early.

So far, over 60 teams have competed fiercely by concretizing their startup ideas over a 2-day overnight event and presenting them. This year, due to the spread of COVID-19, only 15 teams selected through a non-face-to-face preliminary round will participate in the finals scheduled for October 23 at Arpina, Haeundae.

The ideas are designated in the recently trending fields of contactless (untact), e-commerce, social value, energy, and environment, and 50 teams will be selected through document screening.

Teams passing the document screening must produce and submit a presentation video of their idea within 5 minutes, and the finalists will be selected through video evaluation.

Teams passing the document screening will be provided with an idea box containing a smartphone stand necessary for video production, competition T-shirts, stationery, and more.

The winning teams in the finals will receive a total prize of 24 million KRW, including 5 million KRW for the grand prize, and opportunities to participate in various startup support policies hosted by Busan City.

The competition process will be broadcast live on YouTube (BstarTV) to deliver a vivid sense of the event.

Applications are accepted by team (3-5 members) through the Busan Startup Support Center website until September 11; individual applications are not allowed.

Byun Sung-wan, Acting Mayor of Busan, said, "It is unfortunate that we cannot hold the traditional 2-day overnight competition due to COVID-19, but selecting participants through a non-face-to-face preliminary round will improve the focus and quality of the competition," and added, "We hope many university and high school students nationwide with ideas that can change the world will participate in this competition."

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