- Contest of ideas for sustainable growth in the 4th Industrial Revolution for would-be entrepreneur teams or start-ups with less than two years of operation
- Winner awarded the Mayoral Award of the City of Seoul, joint research support, and additional points if applying to CJ OliveNetworks IT Division public recruitment programs
[CJ OliveNetworks=September 27, 2017 (Wednesday)] The youth entrepreneurship community, HUBPOT (www.hubpot.co.kr), a subsidiary of CJ OliveNetworks, has announced the opening of the 3rd Youth Entrepreneurship X2O Challenge in conjunction with the City of Seoul and the Startup Value & Culture Network, VIRUS.
X2O, the mainstay public contest hosted by HUBPOT, is named after the wish to develop world-changing ideas (O) that we have never seen before (X) as a means of progress (to; 2).
The topic of this year’s Youth Entrepreneurship X2O Challenge is the development of sustainable growth and new industrial models for the upcoming 4th Industrial Revolution, on “New Services and Product Ideas that Respond to Changes in Industrial Conditions.” Participants are given a choice between the fields of Health and Beauty, Urban Renewal, Logistics, Entertainment and Media, and Food Services, and submit a summary of their ideas using the technologies of the future, such as IoT, Big Data, and AI.
Applications are accepted until October 20th (Friday) for any would-be entrepreneurs, under the age of 39, with creative ideas. The participants only need to organize themselves into teams of not more than three or five people, submit their applications via e-mail (firstname.lastname@example.org), and register their summary to the HUBPOT webpage’s idea board.
The contest also allows existing start-ups with less than two years of operation to join to mitigate the early difficulties of a start-up and to create a mutually beneficial relationship between them and large conglomerates.
The accepted ideas are evaluated on their relations to the 4th Industrial Revolution, and the possibility of implementation, viability, and creativity to determine the teams that will join the main competition. Teams who make it into the main competition can take part in the X2O Offline Event, which will be held on October 28th (Saturday) in Wonhyo Complex, Yongsan, Seoul. There, the participants will operate their team information booths, take part in networking and mentoring programs, and compete in random missions for the privilege of presenting their project on the Demo Day.
In addition, the finalist will also have access to Demo Day preparation funds, and online and offline mentoring services for ideas and technological realization. The final copy of the project plan will be evaluated on November 17th (Friday) in a presentation attended by accelerator organizations and project managers of CJ affiliates.
The five finalist teams will be awarded the Mayoral Award of the City of Seoul, and a preference for application into the Seoul Center for Creative Economy & Innovation. Teams ranked at 1st, 2nd, and 3rd places will also be awarded a start-up support grant of KRW 6 million.
CJ OliveNetworks is planning to provide active support for the realization of the top five ideas, depending on their viability, through provisions of joint research contracts, sales routes, and patent assistance. Finalists are also granted the preference to document reviews for CJ OliveNetworks IT Division entrance applications.
Senior Vice President Jae-won Jung of CJ OliveNetworks has commented that “this contest is prepared with the intent of developing and supporting competitive project ideas for the upcoming changes brought by the 4th Industrial Revolution” and “we are looking forward to seeing the novel ideas of the future ICT leaders.”
For more details on the X2O Challenge, please visit the HUBPOT web page (http://www.hubpot.co.kr). (End)