The Ministry of SMEs and Startups announced on the 8th that 34 teams, including Lee, received awards at the “2022 Women’s Startup Competition and Korea Women Business Award Ceremony,” held at TIPS Town S1 in Gangnam, Seoul.

The Women’s Startup Competition is the only national competition in Korea dedicated to women (prospective) entrepreneurs. It aims to discover women-led startups with strong ideas and business items and to promote women’s technology-based entrepreneurship. This year marked its 23rd edition.

A total of 1,233 teams participated this year, with technology-startup areas such as ICT and bio-health accounting for 79.1% of entries.

Following written and presentation evaluations by panels of technology and investment experts, the ministry selected 34 teams as the final awardees.

The Grand Prize went to CEO Hyejun Lee of Kai Health, which developed an AI application that selects embryos with a higher probability of pregnancy. Awardees may also receive support such as funding, investment matchmaking, and links to accelerator programs. In addition, the top 30 teams will be granted entry to the integrated main round of the “Challenge! K-Startup” competition scheduled for October, along with expert coaching and other benefits.

To encourage women-led startups in technology-based fields, the “Korea Women Business Award,” newly established this year, selected six companies, including Kurly, which offers dawn delivery services seven days a week, and InnoTherapy, which developed and commercialized a biomimetic new material.

Vice Minister Jo Juhyun said, “We will ensure that the Women’s Startup Competition and the Korea Women Business Award serve as catalysts to attract women into technology-based entrepreneurship,” adding, “We will go beyond simply identifying outstanding women-led startups and provide support so that women-owned businesses can grow into second and third unicorns.”

Source: Seoul.co.kr (Seoul Newspaper) · Originally published in Korean · English translation

Kai Health’s Hyejun Lee Wins Grand Prize at Women’s Startup Competition