SEOUL, KOREA - A special lecture on crowdfunded venture startups was held on 12th, the first day of Creative Korea 2013, a convention hosted by the Ministry of Science, ICT and Future Planning. The convention kicked off on 12 and runs until 15 in a bid to bolster public participation and consensus on creative economy.
The special lecture was under the theme of ‘crowd funding’ and led by the first-generation venture leaders who overcame their business failure in the past. Co-head of the Korea Association of Science & Technology Kim Su-dong who is also the head of the civil committee on creative economy planning, Korea Finance Platform Co. Chairman Kim Dong-yun, TIDE Institute CEO Ko San and Former SBS announcer Yoon Young-mi participated as a guest lecturer in a bid to provide aspiring/beginner entrepreneurs with tips and strategies for global success in venture business.
Out of 32 teams of young aspiring entrepreneurs from IT/mobile, distribution, service, manufacturing industries, 9 teams who passed preliminary screening took part in the competition. Grand prize, runner-up prize and participation prizes were awarded to those who were chosen through the on-site evaluation.
Vision Works CEO Kim Ian won the grand prize of 30 million won in crowdfunding startup fund and 2 milion won in prize money. The creator of mobile application for clothing shopping ‘Update Closet’, Jeong Ha-yoon won the runner-up prize of 20 million won and 1 million won in prize money. Each participation prize of 10 million won and 800 thousand won went to OTpro CEO Kim Yu-ri and Cielo CEO Im Hyeon-chae.
“The business suggestion made by Vision Works CEO Kim Ian is aimed at high levels of productivity and has clearly defined targets. Jeong Ha-yoon’s ‘Update Closet’ has high competitiveness but it needs to be differentiated from other mobile apps already on the market. And while Im Hyeon-chae’s Piercing brand Cielo is a creative business idea with potentials to grow, it may lack mass appeal.”, said Platform Co. Chairman Kim Dong-yun through his overall review of contestants.