Busan National University Hosts Open Innovation and Fashion Re-Flying Idea Challenge

Pusan National University is taking the lead in building an innovative ecosystem for youth entrepreneurship by consecutively hosting various competitions to promote youth startups.

The Industry-Academic Cooperation Foundation of Pusan National University (President Choi Jae-won) announced on the 7th that it held the ‘Youth Open Innovation Challenge’ competition on the 6th at BEXCO Exhibition Hall 2 in Busan to discover (preliminary) entrepreneurs with excellent ideas and establish sustainable successful startup momentum through collaboration between the university and public and large corporations.

This competition was conducted in cooperation with the Pusan National University Startup Support Group, LG Electronics, HD Hyundai Heavy Industries, and Korea Southern Power to support business diversification of companies through innovative ideas and technologies of young entrepreneurs and to strengthen the open innovation ecosystem.

Youth Open Innovation Challenge Awards Ceremony.

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The competition consisted of ▲Track 1. LG Electronics’ ‘home appliances that reduce the burden of housework for customers’ and ‘startup ideas that achieve carbon reduction through the purchase and use of home appliances’ ▲Track 2. Hyundai Heavy Industries Co., Ltd.’s ‘hazard recognition technology for future eco-friendly fuels (hydrogen, ammonia, methanol) in the workplace’ ▲Track 3. Korea Southern Power Co., Ltd.’s ‘eco-friendly technologies and startup ideas that enhance carbon neutrality and energy efficiency.’ Participants received support for idea advancement and entrepreneurial capability enhancement through customized mentoring and online education.

Earlier, the Pusan National University Industry-Academic Cooperation Foundation held the ‘Busan Fashion Re-Flying Idea Challenge’ competition on the 1st at BEXCO Exhibition Hall 1, Hall 2, targeting university (graduate) students and (preliminary) entrepreneurs with fashion startup ideas related to Busan.

This competition was co-hosted by the Pusan National University Startup Support Group, Busan Technopark, and Busan Gyeongnam Sewing Industry Cooperative to foster the startup ecosystem in the fashion sector and spread startup culture by collaborating with Busan’s fashion infrastructure, providing a foundation for the textile and fashion industry to grow as a future industry.

Through this, participants received customized mentoring and expert education, greatly helping to advance their startup ideas and strengthen their IR pitching skills.

Through this competition, Pusan National University aimed to discover fashion startup ideas themed around Busan and uncovered various fashion branding startup ideas representing Busan’s future.

Ten (preliminary) startup teams selected through prior evaluation presented ideas equipped with concepts and unique strengths representing Busan. Proposed fashion branding and upcycling startup idea products included casual outdoor goods combining discarded fishing nets and umbrellas, fashion brands embodying the city image of rock and fashion, and bags inspired by Busan’s sea made from discarded denim, raising expectations for a bright future for Busan’s fashion business.

Kang Jung-eun, Director of the Pusan National University Industry-Academic Cooperation Foundation and Professor of Urban Engineering, said, “Through the Youth Open Innovation Challenge and Busan Fashion Re-Flying Idea Challenge competitions, we were able to confirm the potential for future market entry and industrial resurgence. Going forward, our university will continue to discover and support competitive (preliminary) entrepreneurs and lead the creation of a youth startup ecosystem so that innovative ideas can be concretized through collaboration with large corporations and public enterprises.”

Busan Fashion Re-Flying Idea Challenge Awards Ceremony.

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