Startup Contest for Location Information Sector Launched: "Discovering Promising Companies"

Total Prize Pool of Approximately 92 Million Won

The Committee on Broadcasting, Media, and Communications (CBMC) and the Korea Internet & Security Agency announced on May 11 that they will hold the "2026 Korea Location-Based Service Startup Challenge" contest. Applications for the contest will be accepted from today until June 10.

This contest aims to discover innovative business models in the field of location information and to support young entrepreneurs, aspiring founders, small, and micro-enterprises in entering and growing in the market. The program provides support throughout the entire cycle, from the idea stage to commercialization, focusing on helping startups overcome initial challenges such as technology development, securing investment, and opening sales channels.

The selected teams will receive customized support across all aspects of business development, including business model advancement, capacity building for investment attraction, prototype validation and user satisfaction feedback, assistance with registration and reporting as location information service providers, and intellectual property applications. This year, the program will also offer expert consultations in areas such as law and regulations, technology, management, and investment, as well as support for transitioning to AI-based data analysis and prediction services.

After document and presentation evaluations, a total of 30 teams will be selected for the contest. Following business development support, 13 outstanding final teams will be chosen for awards. The total prize pool amounts to approximately 92 million won, with the top team receiving 20 million won and the CBMC Chairman’s Award. In addition, the final selected teams will have the opportunity to present their achievements and network with investors and industry professionals at the "2026 Korea Location-Based Service Startup Challenge" event in November.

Kim Jongcheol, Chairman of the CBMC, stated, "Location information is a key resource that creates new opportunities for startups across various fields, including logistics, industry, and public safety. We look forward to seeing many participants take on the challenge to lead the future of location-based services."

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