Challenge the 'K-Startup' This Year
Challenge! K-Startup 2024 Participant Teams Recruitment Integrated Announcement
The Ministry of SMEs and Startups announced on the 28th that it will actively promote the pan-government startup competition "Challenge! K-Startup 2024," which is collaboratively hosted by 10 ministries including the Ministry of Education, Ministry of Science and ICT, Ministry of National Defense, Ministry of Culture, Sports and Tourism, Ministry of Environment, Ministry of Gender Equality and Family, Ministry of Land, Infrastructure and Transport, Defense Acquisition Program Administration, and the Korean Intellectual Property Office.
"Challenge! K-Startup 2024" will begin with a unified announcement on the 29th, followed by preliminary leagues held by each ministry until September. Afterward, the integrated finals will be held where startup founders who pass the preliminary leagues compete, selecting 30 teams to advance to the "King of Kings" final competition.
In December, through the final stage "King of Kings," the top 10 startup companies and 10 prospective startup teams of the year will be selected, awarding a total prize of 1.4 billion KRW along with the Presidential Award, Prime Minister's Award, and others, concluding the approximately one-year journey.
This year, there are changes in the preliminary leagues and competition operations compared to last year. First, a sports league has been newly established to discover promising startups in the sports industry sector, making a total of 11 leagues operated this year.
Additionally, the "Challenge! K-Startup 2024 King of Kings" final will be linked and operated in conjunction with "ComeUp 2024" and the "K-Startup Grand Challenge," scheduled to be held in December this year, expanding networking opportunities with global investors and others.
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Minister Oh Young-joo stated, "Challenge! K-Startup 2024 is the largest domestic startup competition at the pan-government level, and we expect many challenges from startup founders, including youth armed with creativity and a challenging spirit in various fields." He added, "The Ministry of SMEs and Startups will actively support early-stage startups taking on challenges so that they can grow and establish themselves as new vitality for our economy."
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