The first winners of "Startup for All," a nationwide startup audition, have been announced.
The Ministry of SMEs and Startups said Wednesday that it selected 130 winners for "Startup for All" through a fast-track review. The fast-track review is a system that prioritizes the selection of startup talent at incubation institutions with high application demand. It was introduced to minimize delays when applications are concentrated.
According to the ministry, 102 candidates were selected in the general and technology category and 28 in the local category through this fast-track review. Forty-four applicants, or 33.8 percent of all winners, incorporated artificial intelligence (AI) technology into their startup ideas. By age, 83 winners, or 63.8 percent, were youth aged 39 or younger, while 94 entrepreneurs, or 72.3 percent, applied through incubation institutions outside the Seoul metropolitan area.
The winners presented a range of startup ideas targeting urban and social issues as well as regional revitalization. Notable examples include a team from Hannam University that proposed early sinkhole detection technology using vehicle driving data, and an applicant from the Gwangju Creative Economy Innovation Center that presented a local complex cultural space combining independent bookstores and breweries to revitalize local independent bookstores. An applicant from the Gyeongbuk and Daegu Creative Economy Innovation Center, who proposed vacuum repackaging of agricultural and fisheries products to boost sales at traditional markets, also passed the fast-track review.
In the general and technology category, a foreign entrepreneur who proposed a platform to help non-English-speaking students independently prepare to study in Korea was selected as a winner through Seoul National University of Science and Technology.
"The winners born through this fast-track review will be the first lanterns to light the long journey of 'Startup for All' ahead," SMEs and Startups Minister Han Seong-sook said. "We will continue fast-track reviews by institution until the application deadline and channel the challenges of all citizens through the platform to infuse 'Startup for All' with the fervor of innovation."
