- 2017 Youth Start-up Idea Festival X2O aims to become a Korean version of 'Slush,’ a world-renowned start-up festival with college students' start-up networks, corporations and the public sector
- A new-concept ideathon-type start-up festival organized by VIRUS and sponsored by CJ O’liveNetworks and Seoul Metropolitan Government.
- CJ O’liveNetworks supports young entrepreneurs with the online startup platform 'HUBPOT' and technology, and Seoul Metropolitan Government with spaces and administration service.
HUBPOT (www.hubpot.co.kr), a young entrepreneurial community of CJ O’liveNetworks Co., Ltd. (co-CEOs Lee Kyung-Bae and Hur Min-Ho) will hold the 2017 Young Start-up Idea Festival X2O from March 27 to July with startup value & culture network VIRUS (Representative Park Jun-Hyuk, https://virus.network) and Seoul Metropolitan Government in order to create an environment in which business ideas of college students and young people are developed and put into action
'X2O' means to develop an original idea into one (O) that will change the world through the festival.
This event hosted by VIRUS and sponsored by HUBPOT and the Seoul Metropolitan Government is a new-concept ideathon-type business foundation festival, an online idea contest for young entrepreneurs with original ideas.
The event is characterized by enabling young entrepreneurs to not only participate in the contest but also develop their ideas, put them into action and establish start-ups with support from CJ O’liveNetworks and Seoul Metropolitan Government. CJ O’liveNetworks is a network of online hubs for communication and idea exchange, called "HUBPOT," and technical support. Seoul Metropolitan Government will support spaces and administration service. It is not only facilitating participation in the competition but also helping them plan, execute and operate their own ideas.
The '2017 Youth Start-up Idea Festival X2O' chose “Future Ideas for Convergence Business in 2030’ as its theme, considering the future-oriented and social value for resolving youth problems. College students and young people with service-oriented ideas that combine at least two of tourism, finance, logistics, food, cultural contents, fashion, medical service, urban renewal, IT, education and the silver industry can participate individually or as a team and register their ideas on the X2O idea board in HUBPOT.
The '2017 Youth Start-up Idea Festival X2O' will receive and review ideas on two occasions. The 1st Ideation evaluation will select 30 teams based on scores of received ideas and HUBPOT activities. The 30 teams will be able to participate in a conference at the Yongsan Global Entrepreneurship Center on May 27 (Saturday). They will attend special lectures and talk show-style concerts on start-up foundation and be matched with their mentors.
The second festival competition is to formulate the idea. They need to map out their final project plans and film presentation videos through coaching by mentors and eventually submit them.
The final winning team will be announced on June 30 and take home the Seoul Mayor Prize and be given support through the use of an incubation space in Yongsan Electronics Market for six months. HUBPOT offers a total of 10 million won in entrepreneurial support.
In particular, the award team will be given a privilege of operating a demonstration booth and presenting their business ideas in the Korean Youth Start-up Festival X2O in July. The event is modeled after the representative global start-up Slush event which started in Finland in 2008.
"The Youth Start-up Idea Festival X2O is designed to build an ecosystem where business ideas of young people who are full of young emotions and creativity can lead to real business," said Lee Kyung-Bae, CEO of CJ O’liveNetworks Co., Ltd. "We will actively support them via HUBPOT so that they will be constantly innovating and challenging without fear of failing."
'HUBPOT' was launched by CJ O’liveNetworks in October 2016 as an online youth start-up support platform, in which young people who wish to start businesses can suggest ideas and exchange practical information necessary for the foundation of start-ups.