Final 20 Teams Selected for 'Challenge K-Startup 2023' Finals Held on the 19th
The Ministry of SMEs and Startups announced on the 5th that it has concluded the 11 preliminary leagues of 'Challenge! K-Startup 2023,' hosted by 11 ministries, and is moving forward with the integrated finals and champions tournament to select the final 20 teams.
'Challenge! K-Startup 2023' began with a joint announcement by the ministries on January 26, recruiting entrepreneurs and prospective entrepreneurs for each preliminary league. A total of 6,187 teams applied, recording an average competition rate of 31 to 1 for advancement to the integrated finals. Fierce competition from the preliminary leagues led to 200 teams advancing to the integrated finals stage. Among them, five teams from the newly established foreign international student track this year also caught attention.
The teams advancing to the integrated finals will be narrowed down to 30 teams for the champions tournament through a presentation evaluation held over four days starting from the 19th. Subsequently, the final 20 teams will be selected through the champions tournament scheduled for the end of October, awarding a total prize of 1.5 billion KRW and 20 awards including the Presidential Award, marking the conclusion of the competition.
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On this day, the Ministry of SMEs and Startups took time to explain the 'Comprehensive Startup Korea Measures,' announced on the 30th of last month, to about 200 attendees including the teams advancing to the integrated finals, so that startups can fully understand and utilize the measures. Lim Jung-wook, Director of the Startup Venture Innovation Office at the Ministry, who attended the event, said, "This finals marked the first step in fostering a domestic startup atmosphere for foreigners, with foreign international students advancing," adding, "The Ministry will faithfully implement the Comprehensive Startup Korea Measures to realize a global startup powerhouse."
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