MSS holds the “P4G Entrepreneurs and SMEs Challenge” as part of the 2021 P4G Seoul Summit

MSS holds the “P4G Entrepreneurs and SMEs Challenge” as part of the 2021 P4G Seoul Summit
  • Designed to provide opportunities to startups of P4G member countries to share innovative businesses to address the climate crisis and sustainable growth
  • High significance being the first climate and environment summit held in Korea since the implementation of the Paris Agreement
  • Various climate and environment-conscious solutions such as mobile parking information platform, waste management using locally found microorganisms, renewable energy in rural areas, granola bars made by beer by-products, and plastic recycling by 3D printing technology introduced

As an effort to emphasize the importance of SMEs and startups in responding to Global Climate Change after 2021 P4G Seoul Summit, Ministry of SMEs and Startups (Minister Kwon Chil-Seung, hereafter MSS) announced that it hosted “P4G Entrepreneurs and SMEs Challenge (hereinafter P4G Startup Challenge)” with 58 startups from 12 P4G member countries and global investors at GLAD Hotel Yeouido, Seoul, on May 31.

P4G (Partnering for Green Growth and the Global Goals 2030) is a global platform that began in 2017 seeking innovation in five sectors (i.e., water, energy, food & agriculture, circular economy, and cities) to address climate change and achieve Sustainable Development Goals. Its members are 12 countries from four continents (Europe, South America, Africa, and Asia): Korea, Denmark, the Netherlands, Mexico, Colombia, Chile, Kenya, Ethiopia, South Africa, Bangladesh, Indonesia, and Vietnam.

This year’s event is especially meaningful in the aspect that it is the first climate and environment summit held in Korea since the implementation of the Paris Agreement, in the midst of the international community’s consensus and discussion on the urgency of climate response is growing,

This event is designed to provide opportunities to startups of P4G member countries to share innovative businesses to address the climate crisis and sustainable growth. The entrepreneurs had the opportunity to receive feedback to prepare themselves for the next level.

The official website for the online exhibition which opened on May 24 to introduce 58 promising companies in the five sectors recommended by 12 P4G member countries. Exhibiting company introduction materials and videos, the online exhibition hall will be open to domestic and foreign startups, investors, and the general public until June 31 on the online exhibition hall (www.p4gentrepreneurchallenge.kr)

As of June 22, a total of 394 people registered for the online exhibition hall, of which 93 business meetings were held between 49 domestic and foreign investors and 58 promising startups. So far, 2,591 domestic and foreign visitors have visited the online exhibition, showing high interest in the P4G startup event.

Denmark, Kenya, Bangladesh, Colombia, and Korea showed high interest by recommending six or more startups for the online exhibition. The startups have presented various technologies to mitigate climate change, including Korea’s Modu Company, which introduces a mobile platform providing parking information (cities). Other examples include: waste management using locally found microorganisms (water), supply of renewable energy in rural areas (energy), production of granola bars using byproducts of brewing beer (food & agriculture), and recycling of collected plastic using 3D printing technology (circular economy).

MSS plans to hold a follow-up virtual investment event (Meet-up Day) in the second half of 2021, thereby helping the participating startups attract further investment.