‘Igniting a spark for marine startup ideas’: ‘Spark Up 1876’ contest runs through next month
- Input
- 2026-10-26 13:52:06
- Updated
- 2026-10-26 13:52:06
Korea Ocean Business Corporation and Busan Port Authority (BPA) said on the 26th that they will hold the “Spark Up 1876, Marine Startup Idea Contest” through the 16th of next month.
The contest was organized to lower barriers to entry for startups in the maritime industry and give aspiring entrepreneurs with fresh ideas an opportunity to test their business potential. It is divided into two categories: “Ports and Logistics” (port operations, management, cargo handling, storage, delivery and efficiency, among others) and “Shipping and Vessels” (maritime transport, shipping services, finance, eco-friendly solutions, safety and digital vessels, among others).
Eligible applicants are aspiring entrepreneurs nationwide with startup ideas in these fields, or companies founded less than a year ago. Applicants may enter as individuals or in teams of up to four, with no residency restrictions. Applications will be accepted through the 16th of next month. To apply, visit the dedicated submission website listed in the announcement or scan the QR code on the promotional poster with a mobile phone, then submit the required documents online.
The two organizations plan to evaluate submissions for creativity, business potential and feasibility, among other criteria, and select around 10 teams to advance to the presentation evaluation. The final in-person presentation evaluation will then take place on the 27th of next month, with four teams selected for their outstanding ideas.
The total prize money is 5 million won per category. In each category, one team will receive the top prize of 3 million won and one team will receive the excellence award of 2 million won. The winning teams will also receive, by category, the president’s award from Korea Ocean Business Corporation and the president’s award from Busan Port Authority.
Korea Ocean Business Corporation President Ahn Byeong-gil said, “This contest is a meaningful stepping stone toward identifying aspiring entrepreneurs with fresh ideas in the maritime sector and promising startups, and building an innovative ecosystem for the regional maritime industry.” He added, “We will continue to do our part to inject new vitality into the maritime industry as a whole and build a foundation for sustainable future growth, based on a strong framework for cooperation among relevant organizations.”
BPA President Song Sang-geun said, “I hope this contest will help us find fresh startup ideas in shipping, ports and logistics, and give entrepreneurs an opportunity to explore new possibilities in the maritime industry.” He pledged, “We will continue to work actively to foster a maritime startup ecosystem so that innovative ideas can lead to actual startups and growth.”
