"What Are the Ideas to Revitalize Middle-Aged Entrepreneurship?"... The 3rd Startup Policy Hackathon Held

For (Prospective) Entrepreneurs... Idea Submissions Accepted Until June 11

[Asia Economy Reporter Kim Bo-kyung] The Ministry of SMEs and Startups announced on the 23rd that it is accepting applications for the '3rd Startup Policy Hackathon,' which proposes startup policies for the middle-aged and older generation.

The Startup Policy Hackathon is a project where (prospective) entrepreneurs propose ideas and participate in policy development to discover government startup policies needed in the field. The Ministry of SMEs and Startups is conducting a series of hackathons on major startup policy themes. The theme of this 3rd hackathon is 'Startup Policies for the Middle-aged and Older Generation.'

Only teams composed of 2 to 4 members who are entrepreneurs within 7 years of starting a business or prospective entrepreneurs can participate. Applications can be submitted from tomorrow (the 24th) until the 11th of next month through the K-Startup website along with one policy idea.

Through document evaluation of the policy ideas submitted by participants, 10 teams will be selected to advance to the final hackathon.

The hackathon will be held over a total of 20 hours on the 21st and 22nd of next month, conducted like a marathon. Teams will work with assigned policy mentors to concretize their ideas and produce final results.

To prevent the risk of COVID-19 infection, the entire process from application to evaluation and the hackathon will be conducted online via video conferencing.

Three teams selected for excellent proposals will receive a total prize of 10 million KRW, the Minister of SMEs and Startups Award, and the Startup Promotion Agency President’s Award. They will also have the opportunity to participate in policy development as policy advisory committee members of the Startup Promotion Agency.

Detailed information on eligibility and schedule for the 3rd hackathon can be found on the K-Startup homepage.

Meanwhile, the 2nd hackathon, held on the theme of discovering startup policy ideas in the new industry and manufacturing sectors, received applications from a total of 87 teams and 212 people and was held over two days on the 10th and 11th of last month. At the online awards ceremony held on the 18th, three outstanding teams were awarded.

The 'Dongbansungjang' team, which proposed a policy to nurture manufacturing specialized Project Managers (PMs), won the Minister of SMEs and Startups Award.

The 'Startup CSR' team, which proposed integrated support for production, distribution, and patents for prospective manufacturing startups, and the 'DREC' team, which proposed the formation of an innovation talent pool in the new industry and manufacturing sectors, each received the Startup Promotion Agency President’s Award.

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