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11th Busan Startup Idea Competition Successfully Concludes: Cultivating Innovative Ideas and Future Entrepreneurs

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Busan Metropolitan City (Mayor Park Heong-joon) announced that on the afternoon of September 23 at BEXCO Exhibition Hall 1, it held the finals of the “11th Busan Startup Idea Competition” and selected the final award-winning teams.

This competition serves as a representative entry-level startup event for Busan, aiming to promote entrepreneurial culture and discover promising prospective entrepreneurs with innovative ideas.

Hosted by Busan Metropolitan City and co-organized by the Busan Startup Investment Agency, Kyungsung University, Tongmyong University, Dongseo University, Dong-A University, Dong-Eui University, Pusan National University, and Korea Maritime & Ocean University, the event was sponsored by the Korea Student Aid Foundation.

Marking its 11th year, the competition began accepting applications in June, followed by a three-month process of staged evaluations and practical training leading up to the finals.

Among the 336 applicant teams—comprising 1,042 university (graduate) and high school students—10 were selected as finalists through document review, idea advancement training, and preliminary screening.

The finalist teams then received training such as presentation refinement and rehearsal sessions in preparation for the final competition.

The finals consisted of two parts: the first part focused on the competition itself, and the second part was the awards ceremony.

The finalist teams presented their innovative ideas under evaluation criteria that included problem recognition, competitiveness, feasibility, and expected impact. Five judges conducted Q&A sessions and in-depth evaluations, ultimately selecting the winning teams for a total prize pool of KRW 61.5 million.

The judging integrated both university and high school divisions. Out of the 10 teams, “Perfect Fit Wood” from Seoul National University received the Busan Mayor’s Award by showcasing a woodworking modular solution for interior companies.

The Busan Mayor’s Award came with a prize of KRW 15 million, while the University Presidents’ Awards, Busan Startup Investment Agency President’s Award, and Korea Student Aid Foundation Chairman’s Award carried prizes of KRW 6 million, KRW 3 million, and KRW 1.5 million respectively.

Additional winners included:

• ●University Presidents’ Awards: X10LAB (“1/10 GUPPY,” Ajou University), PetLepathy (Seoul National University), Ieum Company (Kookmin University), CargoLink (Inhang High School), Kilexep (Korea Digital Media High School), SinkSight (Dongseo University), and MIZIDAY (Ewha Womans University).

• ●Busan Startup Investment Agency President’s Award: xEV PartSolution (Dong-A University).

• ●Korea Student Aid Foundation Chairman’s Award: Hydroflux (Pusan National University).

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Final Award Winners

• 1.Busan Mayor’s Award (KRW 15 million): Perfect Fit Wood – Modular woodworking solution for interior companies (Seoul National University)

• 2.University Presidents’ Award (KRW 6 million): X10LAB – “1/10 GUPPY” ultra-low-cost cloud (Ajou University)

• 3.University Presidents’ Award (KRW 6 million): PetLepathy – Animal emotion and pain detection technology using EEG (Seoul National University)

• 4.University Presidents’ Award (KRW 6 million): Ieum Company – Extended seaweed preservation solution “Kim Baljang” (Kookmin University)

• 5.University Presidents’ Award (KRW 6 million): CargoLink – Brokerage solution enabling the resale of undervalued domestic vehicles through overseas auctions (Inhang High School)

• 6.University Presidents’ Award (KRW 6 million): Kilexep – GEO AI-based automated marketing solution for startups (Korea Digital Media High School)

• 7.University Presidents’ Award (KRW 6 million): SinkSight – Data-based virtual reality simulator for predicting sinkhole damage (Dongseo University)

• 8.University Presidents’ Award (KRW 6 million): MIZIDAY – After-sun scalp hair mist utilizing pineapple by-products (Ewha Womans University)

• 9.Busan Startup Investment Agency President’s Award (KRW 3 million): xEV PartSolution – Real-time wireless charging system for humanoid robots (Dong-A University)

• 10.Korea Student Aid Foundation Chairman’s Award (KRW 1.5 million): Hydroflux – Hydrogen energy-based mobile heating and cooling unit (Pusan National University)

Lee Jin-soo, Director of Financial and Startup Policy, stated, “Just as the scale-up of already successful startups is important, it is equally vital to continuously promote an entrepreneurial culture and discover promising prospective entrepreneurs through competitions like this. We will actively support students’ challenges and make diverse efforts to establish Busan as a cradle of innovative entrepreneurship.”