Fleetune Awarded Top Prize in 12th Chung Ju-yung Startup Competition
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The Asan Nanum Foundation, a prominent South Korean startup support organization, recently wrapped up its 12th Chung Ju-yung Startup Competition, concluding an approximately 8-month-long journey that began in March.
The Chung Ju-yung Startup Competition is a nationwide competition aimed at supporting aspiring entrepreneurs in launching their businesses. Its goal is to foster entrepreneurship and promote a startup culture across the country while identifying the next generation of leaders.
In its 12th edition, the Chung Ju-yung Startup Competition revolved around the theme of “Tenacity,” an essential concept derived from the wisdom of Asan Chung Ju-yung, the founder of Hyundai. In March of this year, the competition began accepting teams under this theme, ultimately selecting 14 startup teams to advance to the final competition known as Demo Day. These startup teams successfully navigated a competitive selection process, boasting an impressive acceptance rate of 87:1, and presented their businesses on the eagerly awaited Demo Day stage after six months of business execution.
On this Demo Day, 14 teams presented their products and services. Seven teams participated in the “Growth Track,” focused on startups established within the past two years, while another seven teams competed in the “Challenge Track,” which targeted prospective entrepreneurs.
In the “Growth Track,” the top prize was awarded to “Fleetune,” the creator of “Flrot,” a service that employs AI-based algorithms to provide optimal routing solutions. The “Growth Track” also recognized “Near Brain” with the Most Outstanding Prize for its development of cerebral blood flow prediction software for neurosurgeons. “Moreturn” and “Planfit” received Excellent Prizes, while “Helper Robotics,” “yugacrew,” and “Barc” were honored with Encouragement Prizes.
Within the “Challenge Track,” the top prize was claimed by “Offlight,” a tool designed to manage scattered tasks in one place and assist in planning your “to-do” list. The Most Outstanding Prize in this category went to “Amber Road,” while “Greenik” and “Renutra” received Excellent Prizes, and “TOFU,” “Ocena,” and “Flora Bio” were granted Encouragement Prizes.
Notably, the newly introduced “Popularity Award” recognized the “Greenik” team, which secured the first place in both online and on-site voting, with an additional prize of one million won. Moreover, the “Offlight” team, actively embracing the “Pay it Forward” spirit of sharing experiences and knowledge throughout the business execution period, was rewarded with an additional prize of five million won.
All the winning teams will benefit from post-competition support, including opportunities for global expansion, marketing, expert mentoring programs, and connections with venture capital investors, provided by the Asan Nanum Foundation’s startup support center, MARU.
Lee Beom-seok, CEO of Murex Partners, who served as a judge during the competition, expressed his admiration for the 14 teams that participated in Demo Day, highlighting that each team presented products and services that resonated with the audience, making it challenging to distinguish a clear standout. He conveyed his wishes for all the participants and their businesses to continue growing, driven by their dedication and innovation.
Kim Ji-sung, the CEO of Fleetune, the winner in the “Growth Track,” expressed his immense honor at participating in the competition and receiving such a significant award. He expressed his gratitude to his team members, who tirelessly worked day and night to develop “Flrot.” He also acknowledged that the support programs at MARU, including mentoring, played a vital role in their rapid growth. Kim pledged to continue their journey with an indomitable spirit and realize their infinite potential.
Jang Seok-hwan, Director of the Asan Nanum Foundation, conveyed his hopes that the Chung Ju-yung Startup Competition would serve as a source of inspiration and support for startups, particularly in the challenging investment climate. He emphasized the importance of nurturing the spirit of “tenacity” and committed the Asan Nanum Foundation to actively supporting the dreams and passions of those embarking on entrepreneurial journeys.
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