Shinbo Hosts 'Startup Competition'... Discovering and Supporting Startups with Core Technologies of the 'Korean New Deal'

[Asia Economy Reporter Kwangho Lee] The Korea Credit Guarantee Fund announced on the 6th that it will hold the '2021 Korea Credit Guarantee Fund Startup Competition' to discover outstanding startups possessing core technologies based on the Korean New Deal.

Marking its 13th year, this startup competition will accept applications from startups and prospective entrepreneurs currently undertaking or planning to undertake representative projects related to the Korean New Deal from the 7th to the 30th.

After the application deadline, six winning teams will be selected through the first and second rounds of document screening, and their rankings will be determined through presentation evaluations in October. Notably, this year’s presentation evaluation will be conducted using a metaverse (extended virtual world) platform to overcome the limitations of non-face-to-face evaluations caused by COVID-19, while actively responding to the government’s digital convergence and fusion policies.

The six winning teams will receive a total prize of 21 million KRW and, through separate evaluations, various financial supports such as guarantees, investments, and insurance from the Korea Credit Guarantee Fund. Additionally, non-financial benefits will be provided, including exemption from document screening when applying for the startup nurturing program 'Startup Nest,' participation in the demo day of the Korea Credit Guarantee Fund’s private investment attraction platform 'YouConnect,' and recommendations for residency at the Startup Dream Center.

A representative from the Korea Credit Guarantee Fund said, "We hope this competition will be a great opportunity to showcase innovative ideas from startups related to the Korean New Deal, active in various fields such as digital, green, human, and regional balance," adding, "We will continue to actively strive to discover innovative startups and provide diverse convergence and fusion support."

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