Energy Entrepreneurs Sought for 'Spark-Up' Competition with 200 Million Won Prize

The government is seeking innovative ideas from aspiring and early-stage entrepreneurs in the fields of energy transition and carbon neutrality. The winner of the competition will receive a prize of 200 million won, along with support for commercialization and promotion.

The Ministry of Climate, Energy, and Environment announced on September 16 that it will hold an information session for the 'Spark-Up' startup competition on September 17 at the Conrad Hotel in Yeongdeungpo, Seoul.

This session is designed to provide details on how to apply, the areas of focus, and benefits for outstanding participants, coinciding with the recruitment period that began on September 8. The competition is co-hosted by Korea Electric Power Corporation, the Korea Energy Agency, the Korea Energy Technology Evaluation Institute, and the Korea Chamber of Commerce and Industry.

The target participants are aspiring entrepreneurs preparing to start businesses in the energy transition and carbon neutrality sectors, as well as early-stage entrepreneurs who have been in business for less than five years. The areas of focus include solar power, wind power, electricity, hydrogen, demand management, nuclear energy, energy efficiency, smart grids, energy storage systems (ESS), energy artificial intelligence (AI), and carbon capture, utilization, and storage (CCUS).

The winner will receive a cash prize of 200 million won. The organizing and sponsoring institutions will also provide support for commercialization, expert advice, and corporate promotion to outstanding participants. Applications can be submitted through the Spark-Up website until October 2.

During the information session, KEPCO will introduce the application process, areas of focus, and follow-up support. The session will also outline the format for the competition program 'Spark-Up: Everyone's Energy,' which is set to air at the end of the year, along with the judging and evaluation criteria.

Additional information sessions for local entrepreneurs will follow. The Korea Energy Agency, Korea Hydro & Nuclear Power, KEPCO KDN, and KEPCO KPS will hold traveling information sessions starting in Busan on September 21, followed by Gwangju on September 22 and Daegu.