The 3rd DDM Union Youth Startup Idea Challenge will be held in September, organized by Seoul's Dongdaemun-gu district office under District Mayor Choi Dong-min and co-hosted by Kyung Hee University, the University of Seoul, Hankuk University of Foreign Studies, the Dongdaemun-gu Startup Support Center and the DDM Youth Startup Center Unicorn.
The competition brings together startup incubation institutions within Dongdaemun-gu to discover innovative business ideas from young entrepreneurs and help turn them into viable ventures. Its core goal is to give local youth a concrete opportunity to take their first steps toward launching a business.
Applications are open from Monday through Aug. 7 to aspiring entrepreneurs between the ages of 19 and 39 — individuals or teams of up to three — who are interested in starting a business. Applicants will go through a document screening and expert mentoring sessions before competing on the final pitching stage.
The final round is scheduled for Sept. 16. Winners will receive awards from the Dongdaemun-gu district mayor and university presidents, along with prize money of up to 1 million won ($674).
For more information on how to apply, prospective participants can visit the district office's official website under the public notices section or contact the Dongdaemun-gu Youth Policy and Employment Division.
The DDM Union Youth Startup Idea Challenge has established itself as a launchpad helping young startup teams find a stable foothold in the local entrepreneurial ecosystem. One team that took the excellence award at last year's competition — Chinguhaja — went on to move into the DDM Youth Startup Center Unicorn, a startup incubator run by the district office. Cho Seong-woo, the team's founder, said the competition gave the team a chance to validate its business model and build a foundation for a stable launch. "It was a great event where we gained the opportunities, networks and workspace we needed all at once in the early days of our startup," he said. "I hope this year's participants seize this opportunity just as we did."
With Youth Day falling on Sept. 20, the district plans to roll out a series of programs starting with the startup challenge, giving young people opportunities to participate and connect directly. The Seoul Youth Center Dongdaemun will support the "Samdongje," a joint university festival bringing together Kyung Hee University, the University of Seoul and Hankuk University of Foreign Studies, and will actively back inter-university cultural arts and academic exchange events.
The district will also hold a Youth Week event and present a youth festival planned and run by young people themselves. In addition, it plans to work with the three universities to develop joint programs that foster communication and exchange among youth, with the aim of generating policy ideas and identifying ways to contribute to community development.
"We will continue to expand a wide range of youth participation programs that bring together entrepreneurship, culture and exchange, so that young people come to see Dongdaemun-gu as a place where they can pursue their dreams and put down roots," District Mayor Choi said.
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