Busan, South Korea — The Busan Metropolitan Government announced on November 3 that it successfully held the finals and award ceremony for the 2026 AI Startup Competition on October 31 at BEXCO, Haeundae-gu. The event marked Busan's first-ever municipal competition dedicated to artificial intelligence startups, uncovering 11 high-potential teams.

Launched to discover innovative AI-driven business models and propel them toward commercialization, the competition drew immense interest. When applications opened in September, a total of 178 teams from across South Korea applied. Following a rigorous preliminary screening, 17 teams advanced to the final round.

During the finals, competing teams pitched their AI solutions linked to Busan’s nine strategic industries, which include digital tech, energy tech, bio-health, future mobility, converged parts and materials, lifestyle, maritime, finance, and culture & tourism. Following an evaluation by a panel of industry experts, 11 teams were ultimately selected for honors: 1 Grand Prize, 2 Excellence Prizes, 3 Runner-up Prizes, and 5 Encouragement Prizes.

Grand Prize: Awarded to KL Space for its "On-Orbit Satellite Imagery Analysis Service." Addressing the bottleneck of ground-station data processing and delayed decision-making caused by the surge in low-Earth orbit satellites, the startup utilizes on-board AI technology to analyze imagery directly in orbit and transmit only critical data. The solution earned high marks for its practical applicability and commercial viability.
Excellence Prizes: Went to Centrologics for its "AI Factory OS for Garment Factories" and Organomedi for its "Patient-Specific Digital Twin Precision Medical Platform."
To ensure these groundbreaking ideas translate into real-world business success, the Busan city government plans to provide comprehensive follow-up support.

Among the award-winning participants, six teams that either establish new businesses in Busan or relocate their operations to the city will receive specialized expert consulting. Furthermore, they will be granted commercialization funds of up to 30 million KRW per team (totaling 100 million KRW). Busan aims to leverage its local startup support infrastructure and AI ecosystem to help these enterprises refine their business models and achieve sustainable growth within the region.

Kim Dong-hyun, Director-General of Busan’s AI Industry Innovation Bureau, stated, "Through this competition, we witnessed the immense potential of integrating AI technology across various industries. We will spare no effort in helping these selected teams successfully commercialize their ideas and grow into globally competitive AI enterprises right here in Busan."

[ⓒ Global Economic Times. 무단전재-재배포 금지]