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Busan Metropolitan City to Host the 12th Busan Startup Idea Competition… Applications Open Through June 7

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Busan Metropolitan City, led by Acting Mayor Kim Kyung-duk, announced that applications for the 12th Busan Startup Idea Competition will be accepted from today (May 11) through June 7 to promote startup culture and discover promising future entrepreneurs.

Launched in 2015, the competition marks its 12th anniversary this year (2026) and has become Busan’s representative startup entry-level event.

The competition is hosted by Busan Metropolitan City and jointly organized by the Busan Startup Investment Agency and 11 major universities in the Busan region, with support from the Korea Student Aid Foundation.

Any university or graduate student, as well as high school student nationwide, including out-of-school youth, with startup ideas in Busan Metropolitan City’s nine strategic industries and innovative technology sectors may participate. Teams of two to six members may apply through the Busan Startup Portal (www.busanstartup.kr) by June 7.

Busan Metropolitan City’s nine strategic industries are:
① Digital Tech
② Energy Tech
③ Bio Health
④ Future Mobility
⑤ Convergence Components and Materials
⑥ Lifestyle
⑦ Maritime
⑧ Finance
⑨ Culture and Tourism

The competition process includes document screening to select 50 teams, an idea advancement mentoring program, preliminary judging to select 15 teams, and IR pitching consulting. Final winners will be selected at the final competition linked with FLY ASIA 2026, scheduled for October.

In particular, this year (2026), eligibility has been expanded from high school students only to include out-of-school youth, lowering barriers to participation and enabling more young people to take on startup challenges. In addition, the number of award-winning teams has increased from 10 teams in 2025 to 15 teams this year, while total prize money has risen from KRW 61.5 million to KRW 73.5 million, further strengthening support for participants.

The final competition will integrate both university and high school divisions. Teams that pass the document screening and advance to the finals will receive customized competency enhancement programs, including practical startup idea advancement mentoring and presentation training. In addition, a new networking program connecting finalist teams with senior startup teams will be introduced to further enhance the quality of the competition.

Meanwhile, a total of 1,152 teams and 4,140 students have participated in the competition through last year.

Last year, the “Perfect Fit Wood” team from Seoul National University won the grand prize with its “modular woodworking solution for interior design companies” item.

Lee Jin-su, Director General for Financial and Startup Policy at Busan Metropolitan City, stated, “This competition is a practical startup program that allows youth and university students to turn creative ideas into actual startups,” adding, “With expanded eligibility and strengthened awards, we hope more future startup talents will have opportunities to challenge themselves and grow.”