BNK Busan Bank Awards 'B-Startup Challenge' Entrepreneurship Competition

Daesang Co., Ltd. CIT, Ultra-High-Speed Data Communication Low-Dielectric FCCL

Sixth Time Since 2019, Secures 24 Billion KRW in Follow-Up Investment

BNK Busan Bank (President Bang Seongbin) held the finals and awards ceremony for the 6th B-Startup Challenge, a startup investment competition, at the Busan e-Sports Stadium on the 19th.

The B-Startup Challenge, which aims to discover innovative startups with outstanding capabilities and vitalize local investment, is co-hosted by Busan Bank, Busan Metropolitan City, and Busan MBC, and organized by the Busan Economic Promotion Agency and BNK Venture Investment. Over the past five competitions, a total of 24 winning companies have been produced, attracting 24 billion KRW in follow-up investments.

This year, 212 startups from across the country that have been established within the past five years participated. After document screening, preliminaries, and finals, five companies were ultimately selected. The selected companies will receive a total prize of 300 million KRW in the form of equity investment.

This year's grand prize, the Busan Mayor's Award, went to CIT, which develops low-dielectric FCCL technology for 6G ultra-high-speed data communication and high-speed wired data transmission, receiving a prize of 130 million KRW.

The Gold Prize, the Busan Bank President's Award (80 million KRW), went to Arame Eco-friendly Materials Research Institute; the Silver Prize, the Busan MBC President's Award (50 million KRW), went to CarbonX; the Bronze Prize, the Busan Economic Promotion Agency President's Award (30 million KRW), went to Elect; and the Special Prize (10 million KRW) went to Ilias AI.

Going forward, companies that participated in the finals will be given priority access to the bank's startup nurturing platform, the 'SUM Incubator' program. BNK Venture Investment also plans to provide ongoing follow-up investment connections and networking opportunities after the competition.

Bang Seongbin, President of Busan Bank, who attended the awards ceremony, said, "I believe the high competition ratio of 42 to 1 in this year's competition is the result of the follow-up achievements of past winners becoming widely known," and added, "We will continue to provide generous support so that startups with an innovative spirit of challenge can grow into leaders who change the world."

BNK Busan Bank is holding the awards ceremony for the 2024 6th Startup Competition 'B-Startup Challenge'.

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