The Ministry of SMEs and Startups announced that it will hold the first regional auditions for the 'Everyone's Startup' project from October 13 to 15 at Creative Economy Innovation Centers across 17 cities and provinces nationwide.
During the auditions, 200 participants will be selected from 500 challengers who advanced to the second round out of 62,944 initial applicants. These challengers are divided into general and technology tracks and will compete in the third round (regional auditions).
The ministry will form a panel of evaluators consisting of investors and experts in technology fields, who will comprehensively review the challengers based on their public presentations (IR), idea enhancement processes, item excellence, and market entry potential.
Additionally, the audition venues will serve as open exchange spaces where not only the finalists but also members of the local startup ecosystem can participate.
Results of the auditions will be announced next week, and selected participants will receive 10 million won in commercialization funds and mentoring from experienced entrepreneurs. Following five regional auditions, those chosen as part of the 'Top 100' will be eligible for up to 100 million won in commercialization funds through a partnership agreement.
The ministry has previously supported second-round participants with technology mentoring, initial commercialization funds of up to 10 million won, regulatory screening, and the use of artificial intelligence (AI) solutions.
As a result, 20 companies have attracted over 2.9 billion won in private investment, and 458 patent applications and 192 business registrations have been completed, indicating early success from the project's support, according to the ministry.
Jo Kyung-won, Director of Startup Policy at the Ministry of SMEs and Startups, stated, "We will establish a support system to ensure that startup talents continue to develop their capabilities through ongoing challenges and re-challenges."
During the auditions, 200 participants will be selected from 500 challengers who advanced to the second round out of 62,944 initial applicants. These challengers are divided into general and technology tracks and will compete in the third round (regional auditions).
The ministry will form a panel of evaluators consisting of investors and experts in technology fields, who will comprehensively review the challengers based on their public presentations (IR), idea enhancement processes, item excellence, and market entry potential.
Additionally, the audition venues will serve as open exchange spaces where not only the finalists but also members of the local startup ecosystem can participate.
Results of the auditions will be announced next week, and selected participants will receive 10 million won in commercialization funds and mentoring from experienced entrepreneurs. Following five regional auditions, those chosen as part of the 'Top 100' will be eligible for up to 100 million won in commercialization funds through a partnership agreement.
The ministry has previously supported second-round participants with technology mentoring, initial commercialization funds of up to 10 million won, regulatory screening, and the use of artificial intelligence (AI) solutions.
As a result, 20 companies have attracted over 2.9 billion won in private investment, and 458 patent applications and 192 business registrations have been completed, indicating early success from the project's support, according to the ministry.
Jo Kyung-won, Director of Startup Policy at the Ministry of SMEs and Startups, stated, "We will establish a support system to ensure that startup talents continue to develop their capabilities through ongoing challenges and re-challenges."
* This article has been translated by AI.
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