Is It Only the Capital Area? The 'Dongnam Region' Rises... Busan, Ulsan, and Gyeongnam Mega City 'Startup Competition' Kicks Off

The 2nd Southeast Mega City Startup Idea Competition Held

Applications Open Nationwide for Outstanding Startup Companies from July 12 to August 6

Total of 14 Teams with Innovative Ideas and Technical Skills Selected

Award Ceremony Sch

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] A competition to foster startup visions through the solidarity of metropolitan governments in the southeastern region will be held. The southeastern region aims to become one of the two major pillars driving national development, competing with the metropolitan area through various projects.

The "Southeastern Region Startup Idea Competition," based on the Busan, Ulsan, and Gyeongnam southeastern metropolitan network, will kick off with applications starting on the 12th.

The three metropolitan cities announced on the 11th that they will hold the "2nd Southeastern Mega City Startup Idea Competition" to promote startup cooperation in the southeastern region.

Held for the second time this year, the "Southeastern Competition" was adopted as a new startup support project at the 2nd Southeastern Win-Win Development Council held in December 2019.

Since 2020, the southeastern metropolitan governments have opened the door to overcome the poor startup environment compared to the metropolitan area through mutual cooperation.

The application period is from July 12 to August 6. There are no regional restrictions for applicants.

Any nationwide prospective entrepreneurs or teams, or entrepreneurs (teams) with less than seven years of experience, can participate. A total of 30 teams will be selected through document and presentation evaluations.

To encourage participation from southeastern startup companies, additional points will be given to companies from the Busan, Ulsan, and Gyeongnam areas.

After providing customized mentoring to the selected 30 teams, the final 14 teams will be chosen through the finals on September 14 and awarded prizes.

The awards ceremony is scheduled to be held on October 27 at the Paradise Hotel in Busan. A total prize money of 100 million KRW will be awarded, including 10 million KRW each to two grand prize winners, 7 million KRW each to six excellence award winners, and 4 million KRW each to six encouragement award winners.

During the panel discussion, a joint startup vision for the southeastern region will be presented, and opportunities for entrepreneurs to coexist and collaborate will be provided.

Detailed information can be found on the official competition website or on the websites of the Busan, Ulsan, and Gyeongnam local governments and the Creative Economy Innovation Center.

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