The startup team TOWBUS from the KU Startup Club, under the Konkuk University Office of Start-up Support, won the Grand Prize (Deputy Prime Minister, Minister of Education Award) in the Preliminary Track category of the 2024 Promising Student Start-up 300+ Competition, held at BEXCO in Busan from November 6 to 8.

The Student Startup 300+ competition, hosted by the Ministry of Education and organized by the Korea Entrepreneurship Foundation and the National Research Foundation of Korea, is the nation’s largest student startup competition. It is held annually to discover and nurture entrepreneurial talent with an entrepreneurial mindset and is open to all students (of elementary, middle and high schools, students outside the schools, undergraduates (graduate students)) nationwide.

This year’s competition was divided into four categories △Value-Up Track (General), △Value-Up Track (International Student), △Grow-Up Track, and △Preliminary Track with evaluations tailored to the respective stages of business development. Over 1,300 teams applied, and 410 teams advanced to the finals. A Networking Day event for the finalists was held at Yangjae AT Center on August 13, offering teams an opportunity to share their business ideas and gain new insights.

△Exhibition booth of the TOWBUS

In the Preliminary Track category, only 20 of the 100 teams advanced to the exhibition stage, with TOWBUS being one of the selected teams. Their project was presented over three days at BEXCO. During the 3-minute pitching sessions and Q&A with judges held on the first and second days, TOWBUS received high evaluations. Combined scores from audience votes and the judges’ assessments finally secured them the Grand Prize.

TOWBUS participated in the competition with a project focused on developing eco-friendly cosmetics using Sargassum horneri, a type of seaweed threatening the marine ecosystem along Jeju’s coast. Typically discarded, this seaweed contains valuable compounds such as fucoidan, alginic acid, and floridoside, making it highly suitable as a premium cosmetic ingredient.

TOWBUS developed eco-friendly cosmetics with excellent moisturizing properties using fucoidan as the main ingredient. They also developed a business model in collaboration with Jeju’s fishing communities, using a portion of their revenue to support Haenyeo (female divers) in collecting the seaweed. This addresses marine waste issues while creating local job opportunities.