Korean Startup Wins Global Pitching Competition Two Years in a Row

BC Labs Wins Best Fintech Award at '2020 ZAITEX Future Stars'

Zytex Future Stars

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Park Young-sun) and the Korea Institute of Startup & Entrepreneurship Development (President Kim Kwang-hyun) announced on the 10th that Korean startups have taken the top spot in a global pitching competition for two consecutive years.

According to the Korea Institute of Startup & Entrepreneurship Development, domestic startup BC Labs (CEO Hong Sung-in) was selected as the winner in the Best Fintech category at the 'GITEX Future Stars 2020' pitching competition held on the 6th. The institute explained that following last year's victories in two categories, Korean startups have produced winning companies for two consecutive years.

GITEX Future Stars is the largest information and communication exhibition in the Middle East, with about 100,000 participants annually. It hosts the pitching competition 'Supernova Challenge' and selects winners in 10 categories from 300 startups.

The Ministry of SMEs and Startups and the Korea Institute of Startup & Entrepreneurship Development provide close support throughout the entire process for participating in pitching competitions to help domestic startups promote themselves globally. Seo Ha-neul, PM of the Global Business Department at the Korea Institute of Startup & Entrepreneurship Development, said, "Winning at a global pitching competition is an opportunity to firmly imprint the potential of Korean startups on members of the global startup ecosystem," and added, "We will actively support expanding the scale of global pitching competitions we assist with so that Korean startups can stand tall as leaders in the global market."

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