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B-Startup Challenge, Busan's Start-up Competition, will kick off in June
On April 11, Busan-si announced that 'B-Startup Challenge', a start-up investment competition, will be held at E-Sports Stadium on June 19.
The 6th Challenge, which is co-hosted by Busan-si, BNK Busan Bank, and Busan MBC, and organized by the the Busan Economic Promotion Agency (BEPA) and BNK Venture Investment, has been held since 2019.
It is Busan's flagship start-up investment competition, which has produced a total of 25 award-winning companies and attracted KRW 24 billion in follow-up investment so far.
The competition will proceed with KRW 300 million equity investment for start-ups struggling to attract investment at the early stage.
Malang Honey, a company that manufactures and sells baby products, recieved the best award in 2019, and produced such achievements as its 16 products ranked first in sales by Naver, and annual sales of KRW 9.7 billion as of 2023, and attracting KRW 2.8 billion in follow-up investment.
Medipresso, which received a special award in 2021, achieved KRW 400 million in annual sales and attracted KRW 7 billion in follow-up investment by commercializing encapsulation and high-pressure capsule machines and capsulization of herber ingredients for the first time in Korea.
Terracle, which received the excellence award in 2021, achieved annual sales of KRW 2.1 billion and attraction of more than 10 billion in investment by jointly promoting a waste plastic recycling project with 7-Eleven.
The qualification for this year's competition is a start-up no older than five years.
BNK Busan Bank will fund KRW 130 million for the grand prize, KRW 80 million for the gold prize, and KRW 50 million for the silver prize, respectively, and also support Busan Bank's "SUM Incubator Program."
Inquiries about the competition can be made to the BEPA (☎ 051-600-1859).
ccho@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2024.04.16
Views
31
According to Yonhap News,
On April 11, Busan-si announced that 'B-Startup Challenge', a start-up investment competition, will be held at E-Sports Stadium on June 19.
The 6th Challenge, which is co-hosted by Busan-si, BNK Busan Bank, and Busan MBC, and organized by the the Busan Economic Promotion Agency (BEPA) and BNK Venture Investment, has been held since 2019.
It is Busan's flagship start-up investment competition, which has produced a total of 25 award-winning companies and attracted KRW 24 billion in follow-up investment so far.
The competition will proceed with KRW 300 million equity investment for start-ups struggling to attract investment at the early stage.
Malang Honey, a company that manufactures and sells baby products, recieved the best award in 2019, and produced such achievements as its 16 products ranked first in sales by Naver, and annual sales of KRW 9.7 billion as of 2023, and attracting KRW 2.8 billion in follow-up investment.
Medipresso, which received a special award in 2021, achieved KRW 400 million in annual sales and attracted KRW 7 billion in follow-up investment by commercializing encapsulation and high-pressure capsule machines and capsulization of herber ingredients for the first time in Korea.
Terracle, which received the excellence award in 2021, achieved annual sales of KRW 2.1 billion and attraction of more than 10 billion in investment by jointly promoting a waste plastic recycling project with 7-Eleven.
The qualification for this year's competition is a start-up no older than five years.
BNK Busan Bank will fund KRW 130 million for the grand prize, KRW 80 million for the gold prize, and KRW 50 million for the silver prize, respectively, and also support Busan Bank's "SUM Incubator Program."
Inquiries about the competition can be made to the BEPA (☎ 051-600-1859).
ccho@yna.co.kr
Source Text
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Source: Yonhap News (April 11, 2024)
** This article was translated from Korean.