Busan Bank Hosts the 3rd Startup Competition '2021 B-Startup Challenge'

[Asia Economy Reporter Kim Hyo-jin] BNK Busan Bank announced on the 29th that it will hold the nationwide startup competition "2021 B-Startup Challenge" to discover outstanding startup companies and strengthen the competitiveness of the local startup ecosystem.

Now in its third year, the "B-Startup Challenge" is co-hosted by Busan Bank and Busan Metropolitan City, and organized by the Busan Economic Promotion Agency. Private investment specialized institutions such as BNK Venture Investment and the Korea Accelerator Association participate as judges.

The competition targets startup companies within five years nationwide, with a total prize of 300 million KRW, expanded by 100 million KRW from last year. Busan Bank will provide prize money to the five winning companies in the form of equity investment.

The 10 companies advancing to the finals will be offered various benefits, including the opportunity to participate in Busan Bank's "SUM Incubator" program and promotional support through co-host Busan MBC.

Applications can be submitted online through the Busan City Startup Support Project website until April 16. After document screening, auditions, and final preliminaries in April and May, the final competition will be held in June.

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