Women Venture Association Holds 'Startup Idea Contest' for Female University Students

2021 National Female College Student Venture Growth Challenge
Total Prize Money of 24.5 Million KRW, Government Startup Program Preparation Support

The Korea Women Venture Association announced on the 2nd that it will hold the '2021 National Female College Student Venture Growth Challenge' to promote entrepreneurship among young women and is inviting outstanding startup ideas. Photo by Korea Women Venture Association

[Asia Economy Reporter Kim Heeyoon] The Korea Women Venture Association announced on the 2nd that it will hold the '2021 National Female College Student Venture Growth Challenge' to promote startup activities among young women and solicit outstanding startup ideas.

The '2021 National Female College Student Venture Growth Challenge' was established to discover promising women venture companies that will lead the future venture growth and spread the youth startup boom. The challenge is hosted by the Women Venture Association and officially sponsored by the Ministry of SMEs and Startups, Naver, Kyobo Life Insurance, Joeun Store, Korea Hydro & Nuclear Power, Timonet, Ingent, Wisenut, Buseok Construction, Bizblocks, Shinheung Information & Communication, Aha Food, Only4U, Ableup, and Electronic Times Entertainment.

This contest is open to female college students (including graduate students) who have innovative startup ideas across all industries such as information and communication, manufacturing, knowledge services, and distribution platforms. Applications can be submitted through the association's website until the 30th.

The selection of outstanding startup ideas will take place throughout October. Starting with document screening, followed by business plan presentations and mentor group mock investments, a total of 20 finalists (individuals or teams) will be selected. Unlike typical contests, this challenge features active women venture CEOs as mentors who will diagnose, refine, and evaluate business models to identify ideas with high commercialization potential.

The award ceremony is scheduled to be held during the '2021 Women Venture Entrepreneurs Day' in November. The grand prize winner will receive the Minister of SMEs and Startups Award and a cash prize of 10 million KRW, with total prize money amounting to 14.5 million KRW. Additionally, support will be provided for government startup programs such as the Preliminary Startup Package and One-person Creative Enterprise Support Center, along with opportunities to participate in association education and networking programs.

Kim Bunhee, president of the Women Venture Association, said, "I hope this competition will be an opportunity for young women to challenge themselves and grow through startups," adding, "We will continue to support female college students so they can grow into venture entrepreneurs, not just as a simple contest."

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