Starting Tomorrow: Metaverse Awards Contest... Each with a 2 Million Won Prize

[Asia Economy Reporter Seulgina Jo] The Ministry of Science and ICT announced on the 5th that it will start accepting applications from the 6th for the '2021 Second Half Korea Metaverse Awards (Platform Category)' to discover leading players in the domestic metaverse industry.

Considering the recent importance of creating a metaverse ecosystem centered on platforms, this award aims to discover and honor promising domestic companies, entrepreneurs, content, and solutions with expertise and excellence in core element technologies used in building metaverse platforms, such as extended reality (XR), software development kits (SDK), and data.

The application period is from October 6 to November 5, 2021. The award categories include: ▲ companies with significant contributions to the metaverse industry and improvement of citizens' quality of life, ▲ entrepreneurs who have contributed to building metaverse platforms with challenging and innovative approaches, and ▲ content and solutions that have achieved excellent business results based on creative ideas, totaling three categories.

After evaluation, awards will be given as follows: the Minister of Science and ICT Award (3 awards), the President of the National IT Industry Promotion Agency Award (3 awards), and the President of the Korea Virtual Reality & Augmented Reality Industry Association Award (3 awards). Each Minister’s Award comes with a prize of 2 million KRW. Additional benefits include promotion of company achievements, participation in KMF (Korea Metaverse Festival), the largest domestic virtual and augmented reality exhibition, and opportunities to connect with overseas expansion support projects for digital content.

Kim Jeong-sam, Director of Software Policy at the Ministry of Science and ICT, stated, “For excellent metaverse platforms to be developed, high-quality core element technologies must be supported,” and added, “We will continue to provide unwavering support so that domestic specialized companies in the metaverse field can gain global competitiveness.”

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