WorksMate and Smartec Win Grand Prize at G-Valley Startup Competition
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[Asia Economy Reporter Kim Cheol-hyun] The winning teams of the '2021 G-Valley Startup Competition,' a representative startup event of the Seoul Digital Industrial Complex (G-Valley), have been finalized.
The Korea Industrial Complex Corporation announced on the 7th that WorksMate (CEO Kim Sewon) and Smatech (CEO Jung Seoksong) were selected as the grand prize winners of the '2021 G-Valley Startup Competition,' receiving the Minister of Trade, Industry and Energy Award and the Seoul Metropolitan Mayor Award, respectively. The excellence awards were given to three teams: Messiah (CEO Lee Sanghyun), GeoGrid (CEO Kim Kihyun), and EncoWithUs (CEO Oh Junghoon), each receiving the Korea Industrial Complex Corporation Chairman Award and Soongsil University President Award.
The competition, held since June, saw participation from 210 teams of prospective entrepreneurs and startups within three years of establishment. After the first and second rounds of judging, 13 teams were selected to undergo phased acceleration and competed for the final rankings through the 'Demo Day.' At Demo Day, a total of 10 professional angels, venture capital investors, and accelerators participated as judges to evaluate the competitiveness of startup items, capabilities, and investment attractiveness, determining the final rankings.
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The winning teams will receive a total prize money of 51 million KRW according to their rankings, along with customized guarantee program support from the Korea Industrial Complex Corporation and the Korea Credit Guarantee Fund, as well as startup space support. Lee Haengman, Head of the Seoul Regional Headquarters of the Korea Industrial Complex Corporation, said, "We hope this startup competition will revitalize the G-Valley startup ecosystem, and we will support outstanding prospective entrepreneurs and early-stage startups to rapidly grow by using this award as a stepping stone."
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