Asan Nanum Foundation to hold startup competition in November

The Asan Nanum Foundation announced on Wednesday that it will hold a demo day for “The Chung Ju-yung Startup Competition” on Nov. 7 at COEX Auditorium in Seoul.

The event, now in its 13th year, is a debut stage for various startups that will inherit the entrepreneurial spirit of Hyundai Group founder Chung Ju-yung and create a better world, the foundation said.

The event will feature a keynote speech by Celltrion founder and Chairman Seo Jung-jin and pitch sessions for 12 teams, including a “challenge track” for prospective startups and a “growth track” for early-stage startups.

The winning teams will receive a total of 240 million won ($180,720) in cash prizes.

In addition, all participating teams will receive benefits such as global expansion, promotional marketing support, expert matching programs and venture capital investment recommendations.

Anyone involved in the startup ecosystem or interested in attending the demo day can register from October 2.

“This competition will be an opportunity for entrepreneurs to realize their dreams through the spirit of challenge, and for visitors to experience the essence of entrepreneurship,” said Cheon Sung-woo, head of the startup team at Asan Nanum Foundation.

Write to Joo-Wan Kim at kjwan@hankyung.com