Events / 5th KOREA-ASEAN Business Model Competition for SGDs 2024
5th KOREA-ASEAN Business Model Competition for SGDs 2024
16 Oct 2024 | PUBLISHED BY AKSTCC

The Korea-ASEAN Business Model Competition (BMC) for SDGs is collaboratively organized by Korea's Ministry of SMEs and Startups (MSS Korea) and Indonesia's Ministry of Cooperatives and SMEs (KemenkopUKM RI). The main goal of the competition is to support Startups and SMEs from Korea and ASEAN nations by providing significant opportunities for business growth.

Since 2020, this competition has united hundreds of startups and SMEs from Korea and ASEAN member countries to present their business models aimed at promoting the advancement of the SDGs. 

This is why the Ministry of Cooperatives and SMEs (KemenkopUKM) and the Ministry of SMEs and Startups (MSS) of Korea are hosting the 5th Korea-ASEAN Business Model Competition 2024. In this event,  top10 finalist competed, representing countries from the Southeast Asian region, including Indonesia, Malaysia, Laos, and South Korea.

For the information, the jury panel includes Siti Azizah, Deputy for Entrepreneurship at the Ministry of Cooperatives and SMEs of Indonesia; Meliadi Smbiring, Senior Advisor at the Green Business Center (GBC); Thomas Thimas, CEO of the ASEAN CSR Network; and Choonghyun Lee, Executive Director of the ASEAN-RoK S&T Cooperation Center.

Additionally, the panel features Jaesung Lee, Sub-Regional Director of the Global Green Growth Institute (GGGI); Nicole Nguyen, ASEAN Vice Chair of Global Impact Fintech; David Sehyeon Baek, Chief Strategy Officer at NPCore Inc.; Diah Yusuf, Founder of Indonesia Prima and Director of the Women Economic Forum; and Elan Lockman, CEO and Co-Founder of ATA Plus SDN BHD.

The first winner of BMC 2024 was from South Korea, Millenial Flavor Town which their product focuses on Sustainable Future Dining with meat-free Hanwoo marbling alternative, offering an eco-friendly option that satisfies the palates of meat lovers. The first-place winner received a cash prize of $6,000, while the second-place winner, RE:HARVEST from South Korea, earned a cash prize of $3,000. The third-place winner, REBRICKS from Indonesia, will receive a cash prize of $1,000.

 

 

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