2024 Startup Competition for Utilizing Deep Tech and Big Data in Forestry Sector Announced

16 Teams Selected Across Two Categories Total Prize Money of 40 Million Won

News provided by wipnews
2024-07-09 16:22:10 KST language

On the 5th the Korea Forest Service (KFS) led by Commissioner Nam Sung-hyun announced the hosting of the 2024 Deep Tech and Big Data Utilization Startup Competition to uncover creative ideas using public data in the forestry sector.

The 2024 Deep Tech and Big Data Utilization Startup Competition aims to promote startups leveraging data technology in the forestry sector by utilizing data held by the KFS. It also seeks to stimulate the use of public data by integrating forestry with science and technology to discover new business opportunities.

The competition is divided into two categories: Product/Service Development which includes mobile apps and digital web services and Idea Planning which covers service planning data analysis and marketing. Any startup idea that can utilize public data and deep tech industries within the forestry sector is eligible for submission.

Anyone interested in public data in the forestry sector can participate. Applications can be submitted until July 31 by accessing the competition guidelines through the QR code and downloading completing and submitting the application form.

The submitted startup ideas will undergo a two-stage evaluation process: an initial document review and a second presentation assessment. A total of 16 teams will be selected eight from each category and the results will be announced on August 28.

The competition offers a total prize pool of 40 million won with a maximum individual prize of 10 million won. In addition to the prize money winners will receive follow-up support including connections with venture investors large and medium-sized enterprises investment opportunities and participation in employment programs in collaboration with the Seoul Center for Creative Economy & Innovation.

Im Mi-ra the Planning and Coordination Officer of the KFS stated We will actively open public data for utilization by the public and private companies to revitalize startups in the forestry sector and create job opportunities for young people.

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