2024 한-아랍 스타트업 아이디어 공모전

■ Competition Title: 2024 Korea-Arab Startup Idea Contest

■ Hosted and Sponsored by:

• Hosted by: Korea-Arab Society, Korea International Trade Association
• Sponsored by: Ministry of Foreign Affairs, S-Oil Science and Culture Foundation

■ Eligibility:

• Any individual (team) or startup operator (team) with a business idea related to the Middle East/Arab region is eligible to apply.
  • No age restrictions.
  • Must be a resident of Korea.
  • Additional points will be given to teams composed of both Koreans and Arabs (For Arab applicants, an Alien Registration Card and valid visa must be submitted).

■ Competition Categories:

• No specific restrictions.
  • Applicants (teams) who have received more than 20 million KRW in prize money for the same idea from other contests, or who hold items that infringe or are likely to infringe on the intellectual property of others, are ineligible to apply.

■ Application Period:

• August 1, 2024 ~ September 6, 2024, until 11:59 PM

■ How to Participate:

• Click on [Apply] at the top of the homepage and fill out the application form.

■ Competition Screening and Benefits:

• Select one of the two categories: START-UP or IDEA.

Participation Categories:

1. [START-UP]
   • For startup professionals and individual/corporate business owners with business items related to the Arab region.
     • A business plan must be submitted (no page limit, attach as a PDF file).
     • The plan should include: Background (Overview) / Idea Introduction / Market Analysis and Entry Strategy / Commercialization Strategy, etc.
     • Only individuals or corporate business owners (affiliated) who are already engaged in related business can apply.
   • Benefits:
     • Startup support grants: 10 million KRW for 1st place, 8 million KRW for 2nd place, 5 million KRW for 3rd place, 500,000 KRW each for joint 4th place winners.
     • 1st to 4th place winners: Opportunity to participate in the 2024 WBAF (World Business Angels Investment Forum) (Venue: Bahrain; participation team selection based on English proficiency, business potential, etc.).
     • Exhibition booth at 2025 NextRise provided by the Korea International Trade Association.
2. [IDEA]
   • Open to anyone with an interest in and ideas about the Arab region.
     • Optional submission of an idea proposal (no page limit, attach as a PDF file).
     • Individual/corporate business owners are not eligible to apply.
   • Benefits:
     • Startup support grants: 5 million KRW for 1st place, 3 million KRW for 2nd place, 1 million KRW for 3rd place, 250,000 KRW each for joint 4th place winners.

Joint Benefits:

• Mentoring for startup business growth strategies.
• Discounted entry fees for business space within the Khalifa Economic Zones Abu Dhabi (KEZAD) in the UAE, if desired.

■ Screening and Announcement Schedule:

• First Round Screening: September 9 ~ September 11
• Mentoring: September 19 ~ September 27
• Second Round Final Screening and Award Ceremony: October 2

Please note: The above schedule is subject to change depending on internal circumstances of the foundation or partner organizations.

■ Important Notes:

• All participating teams are obligated to participate in the entire process of the Korea-Arab Startup Idea Contest with sincerity.
• If it is confirmed that the selected team submitted false materials or did not meet the eligibility requirements, the agreement may be canceled, and prizes may be reclaimed, even after the agreement has been signed.
• All civil and criminal liabilities arising from the imitation of other companies' ideas, technologies, etc., lie with the participant.
• The applicant is responsible for any disadvantages caused by ignorance of relevant laws and regulations in the course of participating in this contest.

■ Inquiries:

• Contest Management Office
  • Tel: 02-6953-1310 (Weekdays 9:30 AM ~ 6:30 PM, excluding weekends and holidays)
  • E-mail: koarabstartup@contestweb.net