The Seoul Metropolitan Government announced on September 30 that it held the '2nd Foreign Startup Competition' at the Seoul Global Center, selecting three outstanding startup teams from 40 applicants.
The grand prize was awarded to the Ukrainian team 'NeuroDetectYO,' which developed an AI-based fall detection and wearable safety solution. The excellence award went to the German team 'FlixFluent,' which presented a foreign language learning service utilizing online video content. The merit award was given to the Uruguayan team 'Dots,' which supports the entry of Korean startups into Latin America through AI-based expert connections.
The winning teams will receive cash prizes and 30 points toward the technology startup visa (D-8-4) evaluation. This visa is issued to foreign entrepreneurs wishing to start a business in Korea based on excellent technology and operates on a points system.
Additionally, all three teams will have the opportunity to participate in the 'OASIS-8 (Corporate Establishment Support)' program via a fast track. Normally, teams must undergo a separate evaluation to receive support for corporate establishment from the Seoul Global Center, but the winning teams can join immediately without assessment. Completing this program will also grant them an additional 15 points toward their visa.
Son Hyung-kwon, the head of the Foreign Immigration Division at the Seoul Metropolitan Government, stated, "Foreign entrepreneurs are creating new business opportunities in Seoul based on their experiences and skills. The city will continue to support their innovative ideas to become a new growth engine for Seoul."
This competition is aimed at foreigners legally residing in Korea who wish to start a technology-based business. It is the second edition of the event, following the inaugural competition held in August of last year. The first-place winner from last year, 'Konnect' from India, operates an AI-based integrated travel and lifestyle platform for foreigners in Korea. The third-place winner, 'Secret' from Japan, has developed and is selling a functional sleep bra that prevents sagging.
* This article has been translated by AI.
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