SBA Selects 10 Outstanding Companies Through 'W-economy Startup Challenge'

Magok Large, Medium, and Small Enterprises - Startup Partner Discovery

Participants are taking a commemorative photo at the Weconomy Startup Challenge awards ceremony held at Seoul Startup Hub Mplus (M+).

[Asia Economy Reporter Kim Cheol-hyun] The Seoul Business Agency announced on the 30th that the '2022 Weconomy Startup Challenge' has concluded its schedule for the first half of this year. The Weconomy Startup Challenge is an open innovation program that discovers partners to create a new future together with large and small-to-medium enterprises (SMEs) located in the Magok Industrial Complex and supports their growth.

This program saw the participation of 183 startups with excellent capabilities in future core industries such as artificial intelligence (AI), bio, materials, parts, and equipment. Through the demo day (final evaluation) held last month, 10 outstanding companies were finally selected. Participating startups were directly evaluated for collaboration potential and prospects by large and small-to-medium enterprises in Magok, and through this process, 18 companies advanced to the demo day were confirmed.

The demo day, held at the Innovation Hall of Seoul Startup Hub M+, was an open participation event both online and offline, conducted across five fields: health & beauty, AI, bio, materials, parts & equipment, and future industries. The 10 selected outstanding companies will receive systematic support for space, opportunities, and funding necessary for startup growth from Seoul Startup Hub M+.

Seoul Startup Hub M+ plans to continuously connect the startups discovered through this program with the support needed for sustained growth and will focus on win-win cooperation between large and small-to-medium enterprises and startups in the future, leading efforts to nurture global unicorns.

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