The 3rd KTB Venture Challenge Supporting University Student Startups Held

Support of about 2 Billion KRW to a Total of 10 Teams
Chairman Lee Byung-chul of KTB Financial Group Personally Conducts Evaluation

On October 15th, at the 'KTB Venture Challenge 2021,' Kang Sam-gwon, Chairman of the Korea Venture Business Association (fourth from the right), and Lee Byung-chul, Chairman of KTB Financial Group (fourth from the left), are taking a commemorative photo with the awardees. (Provided by KTB Investment & Securities)

[Asia Economy Reporter Minwoo Lee] KTB Investment & Securities held a university student startup competition and provided a total support of approximately 200 million KRW.

KTB Investment & Securities announced on the 18th that it held the 'KTB Venture Challenge 2021' competition on the 15th in collaboration with the Seoul Venture Incubator (SVI) under the Korea Venture Business Association and delivered startup support funds.

Now in its third year, this event is a flagship social contribution activity of KTB Financial Group for ESG (Environmental, Social, and Governance) management. Chairman Byungchul Lee of KTB Financial Group showed great interest by personally participating in the judging. Every year, they have supported university student ventures and startups with 200 million KRW for startup funds, mentoring, and education. They plan to continuously diversify the program and expand support in the future.

This year, a total of 172 teams from 62 domestic and international universities applied. After document screening and presentation evaluations, the final 20 teams were selected to compete in the competition. The final 20 teams were judged through idea presentations and Q&A sessions. Chairman Byungchul Lee and Chairman Samkwon Kang of the Korea Venture Business Association served as co-chief judges, with venture investment experts from the industry also participating in the judging.

The grand prize was awarded to the 'Pobeo' team, which developed a protective brace for dogs' patella, and the excellence award went to the 'MediBuddy' team, which developed a convenient pharmaceutical purchase service. The 'Wrap O’ Lab' team, which developed eco-friendly packaging materials, won the ESG category excellence award. A total of 10 teams, including the grand prize (20 million KRW) and excellence award (15 million KRW), received a total of 100 million KRW in startup support funds. They also received support such as startup education and dedicated mentoring.

Chairman Lee said, "I am deeply moved every year by the passionate enthusiasm and spirit of the competition participants," adding, "KTB Financial Group will continue to wholeheartedly support and encourage the valuable challenges of young startup talents."

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