On November 26, 2016, Pohang, the 5th Revolutions Per Minute (RPM) Start-ups Competition was held. RPM celebrated its 5^th anniversary this year. The program aims to select and encourage students and alumni of Handong who have creative and excellent start-up ideas and to nurture future start-ups talents.

This competition was started in November 2014. Pohang city and Handong Global University have been co-hosting the event each year to boost start-ups in local society.

The event began with an opening ceremony. Speedy presentations were made by twelve teams, followed by a question and answer session. The panel voted on the presentations. The audience also voted. There was a banquet where prizes were awarded and then there was a closing ceremony.

As the expert panel for this competition included: CEO Seokwon Kwon of INNObjects; CEO Dongwon Shin of Neoply China; Visiting Professor Jinsang Yo of School of ICT Start-ups of HGU; CEO Hakju Kim of Kimhakju Research; CEO Taeksu Lee of Win Best Venture Capital; and CEO Jina Kim of Unicorn Angel Investment.

Ipsnote Team, the prize winner of this competition.

RPM is an acronym for Revolutions Per Minute. It is an exciting event where participating teams were given short amounts of time to present their innovative ideas. The twelve teams received two minutes and thirty seconds to present their ideas of start-ups. The last three minutes were used for questions and answer from the audience panel.

According to the final vote by the expert panel and the audience panel, three teams ‘Bagspace’, ‘Ipsnote’, and ‘Lawbid’ received prizes. For them, on-site visits and field experiences were provided to Israel, Silicon Valley, and Shanghai. to the teams will join various programs to meet different businessmen and  to hear various  start-up lectures.

According to Mr. Jung Saekwang, from the Lawbid team, “It was my pleasure to receive this prize. I really appreciate all of you. This chance served as a venue to present Law bid’s ideas for future projects in front of many people.”

The other significant part of the competition was the participation by local citizens. They listened to the presentations by the students and were able to evaluation the teams and vote on the best ideas. According to Youngmi Han, from the audience panel and a citizen of Pohang said, “I was very happy to the opportunity to learn about the creative projects that will soon extent locally and globally.”

Audience panel in this competition

In his closing remarks, President Soon-Heung Chang said, “It is very meaningful because both Handong and local citizens gathered here to resolve various problems of our society. I would like to encourage all twelve teams, the judges, and the audience panel with a big round of applause.”

This competition was co-hosted by Pohang City and Handong Global University. The event was organized by 60mph, LINC of HGU, PRIME, and the Start-ups Supporting Team of Handong. It was supported by Gyeongbuk Creative & Economic Innovation Center, Pohang Creative Economic Innovation Center, and HGU University Creative Job Center. Sixty-four teams exhibited start-up ideas through the five rounds of the completion.

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