Bithumb Launches Startup Support Program for Entrepreneurs

Domestic virtual asset exchange Bithumb announced on the 25th that it will carry out the 'Bithumb Startup Support Project' in celebration of its upcoming 10th anniversary.

This project consists of two parts: the Bithumb Startup Competition and investment support of 30 billion KRW for early-stage startups. The Bithumb Startup Competition is open to individuals, groups, and small and medium-sized enterprises planning to start a business in Korea or established less than three years ago, with no restrictions on business sectors. The startup support funds are 100 million KRW for 1st place (1 team), 70 million KRW each for 2nd place (3 teams), and 30 million KRW each for 3rd place (6 teams), along with support for IR consulting and marketing to attract future investments.

The project investing up to 30 billion KRW for domestic early-stage startups is open to domestic-based startups established less than three years ago. There are no restrictions on business sectors, and the evaluation focuses on the innovativeness and business feasibility of the participating companies.

Individuals, groups, and small and medium-sized enterprises wishing to participate in the Bithumb Startup Competition and investment support project can submit their application forms containing innovative technologies and ideas, business registration certificates, business plans, or IR materials including key personnel status via email. Applications will be accepted from 10 a.m. on November 1st until November 30th. After the document screening results are announced on January 4th next year, face-to-face evaluations will be conducted for those who pass the document screening in January. The final screening results announcement, investment review, and execution for the investment support targets will proceed from February.

Lee Jaewon, CEO of Bithumb, said, "Bithumb's startup support project will not be a one-time event but will support startups in various fields beyond the virtual asset industry, striving to create continuous co-growth and contribute to society."

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