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Busan Metropolitan City to Host the 11th Busan Startup Idea Competition – Applications Open Until July 24

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will begin accepting applications today (June 30) through July 24 for participants in the 11th Busan Startup Idea Competition.

First launched in 2015, this year marks the 11th edition of the competition. The event is hosted by the city and jointly organized by the Busan Startup Investment Agency and seven universities: Kyungsung University, Tongmyong University, Dong-A University, Dongseo University, Dongeui University, Pusan National University, and Korea Maritime & Ocean University.

As a flagship entry-level startup event in Busan, the competition aims to help aspiring entrepreneurs develop their innovative ideas into viable business models, gain hands-on startup experience, and contribute to the spread of startup culture and the discovery of promising entrepreneurs.

Any university (including graduate) or high school student across the nation with a startup idea related to one of Busan’s nine strategic industries* or innovative technologies is eligible to participate. Teams must consist of 2 to 6 members and can apply via the Busan Startup Portal (www.busanstartup.kr) by July 24.

*Busan’s 9 Strategic Industries:
① Digital Tech, ② Energy Tech, ③ Bio-Health, ④ Future Mobility, ⑤ Convergent Components & Materials, ⑥ Lifestyle, ⑦ Ocean, ⑧ Finance, ⑨ Culture & Tourism

The competition process includes:
▲ Document screening (30 teams selected)
▲ Idea refinement through a mentoring program
▲ Preliminary evaluation (10 teams selected)
▲ Pitching training for real-world investment
The final round will be held in September in conjunction with ‘FLY ASIA 2025’, where the winning teams will be determined.

The final round will combine the university and high school divisions, with a total of 10 teams selected. Awards and prizes amount to a total of KRW 61.5 million, including a grand prize of KRW 15 million (Mayor of Busan Award).

Additionally, the city will offer practical, customized capacity-building programs, such as entrepreneurship mentoring and presentation training, to teams that pass the document screening and advance to the final round, ensuring the competition is conducted meaningfully and effectively.

To date, the competition has attracted a total of 816 teams and 3,125 students.
Last year, the team “Keepu” from Pukyong National University won the grand prize for their “one-touch portable air splint (AIR SPLINT)” item using CO₂ cartridges.

Nam Dong-woo, Director of Financial & Startup Policy at the city, stated,
“This startup idea competition goes beyond a simple contest – it nurtures the feasibility of ideas and serves as a gateway into the startup ecosystem. We hope that many students with innovative ideas will take on this challenge and seize this opportunity.”