YeoBenHyeop "Youth Prospective Entrepreneurs Idea Contest... Grand Prize Awarded 10 Million Won"

'2022 Women Venture Growth Challenge' Held
Youth Section Contest for Under 39-Year-Olds 진행

[Asia Economy Reporter Kim Bo-kyung] The Korea Women Venture Association announced on the 19th that it will hold the "2022 Women Venture Growth Challenge (YeoBenSeongJi)" integrated contest to promote technology-based entrepreneurship among women, and recruit young prospective entrepreneurs to participate in the Women Youth Startup Challenge part.

YeoBenSeongJi, which started last year targeting female university students, has expanded to include all women from this year, and the contest is divided into two parts for youth and middle-aged groups, considering the characteristics of each generation.

The idea contest covers all fields such as information and communication, manufacturing, and distribution platforms, and women youth capable of technology startups can participate individually or as a team. The application period is until the 26th of next month, and detailed information can be found on the Korea Women Venture Association website.

The evaluation will be conducted in two stages in October: the first document screening and the second business plan presentation screening, selecting a total of eight excellent startup ideas. The focus will be on evaluating the uniqueness of the ideas and the potential for successful commercialization to assess the feasibility of startup realization and growth into venture companies.

The awards ceremony will be held during the Women Venture Week event in November. The grand prize winner will receive the Minister of SMEs and Startups Award and a prize of 10 million KRW. The awards include one grand prize team, one top excellence award team, three excellence award teams, and three encouragement award teams, supporting a total prize money of 24 million KRW for eight teams.

Winners of the contest will receive one-on-one mentoring from senior women CEOs to gain practical startup experience and success know-how. Support will be provided for preparing government startup projects such as the Preliminary Startup Package and linking with other startup programs, along with opportunities to participate in education and networking programs conducted by the association to help them grow into promising venture companies.

Kim Bun-hee, president of the Women Venture Association, stated, "Ventures and startups are the main drivers of job creation in our country, and more attention and support are needed so that they can continue to contribute to national economic development." She added, "Through holding various forms of contests, we will actively discover women with innovative startup ideas and spare no support to help them grow into promising venture companies."

This Women Youth Startup Challenge is hosted by the Women Venture Association and officially sponsored by the Ministry of SMEs and Startups, Small and Medium Business Corporation, IBK Industrial Bank, Grip Company, Shinheung Information & Communication, Pillaware, Buseok General Construction, Aha Food, FIN Benefit, and Hanul S&D.

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