The Ministry of SMEs and Startups has created an artificial intelligence league under the pan-government startup competition “K-Startup of the Year” and is recruiting participants.
The ministry said on April 22 that “K-Startup of the Year” is a major national startup competition run jointly by nine ministries. It serves as a platform to discover promising startups and provide opportunities to grow. This year’s event is being promoted under the new name “K-Startup of the Year,” replacing “Challenge! K-Startup.”
The ministry said it plans to refocus the competition on early-stage startups to better identify companies with strong growth potential.
A total of 130 teams selected through preliminary rounds will advance to the integrated main competition. The final 20 early-stage startups will compete in a year-end championship round in December. Winners in the championship round will receive prize money of up to 500 million won and preferential consideration for follow-up support programs, including the Early-Stage Startup Package.
To discover and nurture AI startups, the ministry newly established an AI League. The AI League targets startups less than three years old that have products in the AI field. The top 10 companies chosen through preliminaries will advance to the integrated main round alongside top firms from other leagues.
The ministry is also recruiting for an “Innovative Startup League,” open to any startup less than three years old with strong technology and business potential, regardless of sector. It will select 22 companies.
Cho Kyung-won, the ministry’s director general for startup policy, said, “With the launch of the AI League, we hope the growth of innovative AI companies like Wrtn Technologies, which grew through ‘K-Startup of the Year,’ will accelerate further.”
* This article has been translated by AI.
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