Gyeonggi Business and Science Accelerator (GBSA) holds the orientation for the '2024 G-Star Audition'

2024.07.25 19:12

[Herald Economy (Suwon) = Jungkyu Park] The Gyeonggi-do Business and Science Accelerator (hereafter referred to as GBSA) announced on July 25 that it held a live online orientation at the Startup Innovation Space (East Region) for startups selected through the '2024 G-Star Audition'.

The 'G-Star Audition' is a global startup IR pitching contest that discovers and provides growth opportunities to prospective businesses as well as startups with innovative ideas and/or products, are less than seven years old, and belong to a wide variety of fields, including advanced technologies such as AI and bio.

The contest, which debuted this year, attracted great interest from startups by offering them the opportunity to go global and attract investment even amid the economic downturn and a shrinking investment market. As a result, the contest got off to a successful start with a high competition ratio of up to 42:1.

The competition was divided into three leagues based on the level of growth and the characteristics of participating startups: Pre-League (all fields), Scale-up League (deep tech), and ESG League (sustainability and social problem-solving). A total of 102 teams (including tied teams) were selected as the G-Star 100 through the qualifiers.

Today's orientation provided a general overview of the G-Star Audition and future schedule, as well as a lecture on IR pitching strategies in English for participants.

The league-level finals will be held from June 6 to 9 next month, and the 30 teams that make it through will compete in the final round at the 2024 SOUTH SUMMIT KOREA, Asia's first international event for AI startups, to be held in September in Gwanggyo and Pangyo.

The 10 finalists will receive a total of KRW 30 million in cash prizes, as well as a display booth at the 2024 SOUTH SUMMIT KOREA. This will be a unique opportunity for the finalists to showcase their technologies and business models to local and international investors.

“We are very excited to have the opportunity to showcase our technology on a global stage,” said a representative from one of the auditioned startups. “We hope to attract investment and gain a foothold in overseas expansion through this competition.”

“We will spare no effort to help the startups selected through the 2024 G-Star Audition to compete in the global market,” said Sung-chun Kang of GBSA. “We will continue to create an environment where startups can grow stably through development of technology, funding support, and building a global network.”

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