Domestic Startup 'Marine Innovation' Breaks Through 173 to 1 Global Competition
Awarded at 'Dubai Expo 2020'
[Asia Economy Reporter Kim Cheol-hyun] The Korea Institute of Startup & Entrepreneurship Development announced on the 12th that Marine Innovation (CEO Cha Wan-young) was the only domestic startup to win a $100,000 prize in the "Expo Live Program" of the "Dubai Expo 2020." The Dubai Expo was originally scheduled to be held in October this year but was postponed by one year due to the COVID-19 pandemic. The Expo Live, which selects exhibiting companies, was conducted through both online and offline methods. The exhibition will take place at the Dubai Expo in October 2021.
In this event, 4,000 startups from around the world applied, and 142 startups from 76 selected countries proposed innovative solutions to global challenges in fields such as education, health, and employment. Marine Innovation was selected as one of the 33 finalist companies and was among the 23 companies that ultimately received prize money.
Marine Innovation, which develops plastic and wood substitutes using seaweed, was selected this year for the Global Accelerating Program Support (GAPS 2020) and the TIPS program (Private Investment-Driven Startup Support) by the Ministry of SMEs and Startups and the Korea Institute of Startup & Entrepreneurship Development.
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Cha Wan-young, CEO of Marine Innovation, said, "Among globally competitive startups, Marine Innovation's distinctiveness and innovation were recognized," adding, "In the era of eco-friendly packaging, we will leap forward as a leading eco-friendly company in Korea through the development of sustainable eco-friendly materials."
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