Korea University's College of Information Science is hosting a startup idea competition to nurture innovative startups utilizing artificial intelligence (AI) and blockchain technology.

According to Korea University on the 28th, the purpose of this competition is to discover outstanding talents who will lead future emerging industries through collaboration between young talents, companies, and researchers, and to support the practical startup ecosystem.

Recently, AI and blockchain are considered the most promising emerging technology industries in the global market. According to Precedence Research, the AI industry is expected to grow to approximately $2 trillion (about 2,600 trillion won) by 2030.

Currently, AI technology is being utilized in various industries such as △finance △healthcare △manufacturing △distribution △autonomous driving, and is becoming the center of digital transformation and innovation worldwide.

The blockchain industry is also growing rapidly. Grand View Research forecasts that the blockchain market will reach approximately $46.9 billion (about 60 trillion won) by 2030. In particular, various service models are emerging and driving market expansion in △DeFi △digital identity verification (DID) △Non-Fungible Token △content and entertainment industries.

This startup idea competition, taking place amid these global trends, will be operated in two categories: AI and blockchain.

The AI category is open to undergraduate students from SW-centered universities nationwide, and participating teams must include at least one undergraduate student majoring in software. The AI category is jointly hosted by Korea University's SW-centered university project group and Hanshin University's SW-centered university project group, with sponsorship from △KOSCOM △Kim & Chang Law Firm △Toss.

The blockchain category allows broad participation from university students, graduate students, researchers, and even companies currently in the industry. For corporate teams, at least one team member must be a current, on-leave, or graduated student. The blockchain category is jointly hosted by Korea University's Blockchain Research Institute and TokenPost, a blockchain specialized media, with sponsorship from △Korea Internet & Security Agency (KISA) △Maeky Ventures △LG CNS to actively support participants' ideas becoming actual businesses.

Applications for the competition will be accepted from the 21st to April 25th through △Korea University College of Information Science △Korea University SW-centered university project group △SW-centered university association websites and Google Forms. After the first document screening, 20 teams will be selected in each AI and blockchain categories, and on May 16th at Korea University, a presentation evaluation will select the top 16 teams in each category.

The final award-winning teams will receive not only prize money but also various startup support including △startup education programs △expert mentoring △investment connections, providing opportunities to grow into actual startups.

Korea University's College of Information Science stated, "This competition will be an opportunity to actively discover and support excellent young entrepreneurs and talents with innovative ideas" and "We expect it to practically contribute to activating the AI and blockchain startup ecosystem that will lead future industries."