Public Home Shopping Hosts Excellent Idea Contest... "Discovering Youth and Local Startup Companies"

[Asia Economy Reporter Kwak Minjae] Public Home Shopping announced on the 3rd that it will hold the ‘2022 Excellent Ideas and Creative Innovation Products’ contest to discover startups nationwide and regionally and to create a sustainable venture ecosystem.

This contest will select a total of 10 company products, awarding 10 million KRW to one grand prize winner and 5 million KRW each to nine excellence award winners, totaling 55 million KRW in product development support funds. Selected products will receive one-on-one product coaching from Public Home Shopping’s merchandisers (MD) and quality assurance (QA) personnel. They will also receive up to 3.5 million KRW in support for home shopping video production costs and will be launched on TV home shopping with all sales commissions waived. Outstanding promising products will be nurtured into mega-hit products after the broadcast ends.

Only companies established within the last seven years are eligible to apply for this contest. To ensure fair evaluation, the non-face-to-face evaluation management system of the Small and Medium Business Distribution Support Portal ‘Panpandaero’ will be used. The evaluation process consists of the first qualification screening, the second expert document review, and the third expert presentation review. Additional points will be awarded for policy-supported products such as creative innovation products and Brand K.

Cho Seongho, CEO of Public Home Shopping, said, “As Korea’s representative home shopping channel for small and medium enterprises, we ask for the interest and participation of many entrepreneurs nationwide in this contest, which was prepared as part of supporting public sales channels and realizing public value.”

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