Unicorn Incubator 'Jeong Chang-kyung' Opens... Recruiting Participating Startups Until Next Month

Asan Nanum Foundation Hosts the 13th ‘Jeong Ju-young Startup Competition’

Asan Nanum Foundation announced on the 25th that it is recruiting teams to participate in the ‘13th Chung Ju-yung Startup Competition,’ which discovers promising startups nationwide.

Recruitment for participating startups will continue until the 22nd of next month. This 13th Chung Ju-yung Startup Competition is broadly divided into two tracks: the ‘Growth Track,’ which selects early-stage startups within two years of individual business or corporate establishment (with cumulative investment under 500 million KRW), and the ‘Challenge Track,’ aimed at prospective startup teams. This year, 30 teams will be selected in the first round, and after a six-month business execution period and preliminary screening, 12 finalist teams will be chosen to advance to the demo day.

All teams selected in the first round will be provided with office space necessary for business operations and seed money. They will move into the ‘MARU Seed Zone,’ prepared for short-term residents within the startup hub MARU located on Yeoksam-ro, and the Growth Track and Challenge Track teams will receive 8 million KRW and 5 million KRW respectively as initial business funds.

Additionally, 30 team representatives will learn insights and know-how in various fields through regular networking meetings with mentors composed of partners from leading domestic venture capital and accelerator firms. The mentors include 12 members: Kwon Do-gyun, CEO of Primer; Kim Cheol-woo, CEO of The Ventures; Kim Ho-min, CEO of SparkLabs; Park Jong-hwan, partner at Kim Gisa Lab; Shin Jae-myung, CEO of Alami; Yang Kyung-jun, CEO of Crypton; Yoon Ja-young, founder of StyleShare; Lee Dong-gun, CEO of MyRealTrip; Lee Soo-in, CEO of Enuma; Lee Yong-gwan, CEO of Bluepoint Partners; Lee Taek-kyung, CEO of Mashup Angels; and Choi Kyung-hee, partner at SoPoong Ventures.

All teams advancing to the business execution stage can use startup-essential solutions such as recruitment, legal services, translation, and cloud services free of charge or at discounted rates through the ‘MARU Benefit’ program. They will also receive benefits such as promotional marketing and support for global expansion.

The final teams will pitch on the demo day stage held in November to attract business investment and publicity, and the winning teams will be awarded a total prize of 240 million KRW.

Jang Seok-hwan, Chairman of Asan Nanum Foundation, said, “The Chung Ju-yung Startup Competition, a cradle and gateway for promising domestic startups, has expanded the selection scale this year to meet various startup teams and has prepared to welcome participants with an ‘Avengers-level’ mentor group leading the startup ecosystem. We hope to meet many startup teams that will challenge the journey of problem-solving and grow through this year’s Chung Ju-yung Startup Competition.”

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