1,100 Selected for Round 2 of the First 'Startup for Everyone' Project... Business Commercialization Funding Provided

[Financial News] 1,100 participants (500 in the general and technology tracks and 600 in the local track) have been selected to advance to the second round of the 'First Startup for Everyone Project,' which attracted 63,000 applicants. Selected through competition of approximately 57 to 1, they will compete again for the final selection of 200 through business commercialization support and regional and provincial auditions.
According to the Ministry of SMEs and Startups on the 4th, the participants advancing to the second round were selected from the 5,000 people chosen in the first round after undergoing incubation and evaluation.
Young people accounted for 64.9% of them. Challengers from a wide range of age groups were selected, from the youngest at 15 to the oldest at 72.
By region, the Yeongnam region accounted for the largest share at 27.9%. It was followed by the Chungcheong region (20.1%), the Seoul metropolitan area (19.1%), the Honam region (19.1%), Gangwon (9.4%), and Jeju (4.4%).
By field, the general and technology tracks ranked as follows: information technology (IT, 36.2%), bio and medical (15.8%), and lifestyle (10.8%). The keyword artificial intelligence (AI) appeared in 43.2% of all applications.
The local track ranked as follows: lifestyle (45%), food and beverage (F&B, 38.8%), and beauty (9.7%).
Those advancing to Round 2 will receive initial business commercialization funding, mentoring, regulatory screening, advanced graphics processing units (GPUs), and agreement guarantees.
The Ministry of SMEs and Startups will hold nationwide explanatory sessions for Round 2 starting on the 7th and select 200 finalists in December through regional and provincial auditions.
In addition, veteran entrepreneurs, including Jang Min-hong, a partner at CarbonBlack, and Lee Dong-gun, CEO of MyRealTrip, will operate the 'Startup Community for Everyone' starting on the 10th to support aspiring and early-stage entrepreneurs.
No Yongseok, First Vice Minister of the Ministry of SMEs and Startups, said, "We will spare no support to help the talent selected through Startup for Everyone grow into competitive innovative companies, while also working to spread a nationwide startup culture in which anyone can freely take on challenges."

[email protected] Kim Hyun-chul Reporter