Four startups are pitching to you with quirky ideas!
Another word for entrepreneur is risk-taker. Launching a startup is like embarking on an adventure, and risk-taker was the theme running through the 2024 Chung Ju-Yung Startup Competition in South Korea. Held annually, this event celebrates the entrepreneurial spirit of Chung Ju-Yung, the visionary chairman of Hyundai Group, one of Korea’s leading conglomerates, and is in its 13th year. The competition also serves as a startup incubation program organized by the Asan Sharing Foundation.
Since March, 30 startups have been selected and mentored by experts, with Demo Day on November 7 marking the debut of 12 finalists. Over the past several months, 10 early-stage startups in the Growth Track and 20 prospective startups in the Challenge Track advanced through business development and acceleration phases. From each track, six teams emerged through the final judging round.
Armed with innovative and disruptive ideas, these bold entrepreneurs are ready to take on the world. Here are four of the standout ideas from this inspiring event.
The most eco-friendly risk taker: MFM
Rising global sea levels are making our land saltier, especially in low-lying regions like South Asia. As salt builds up, the soil begins to crack and degrade. What can be done to prevent this? MFM found an innovative solution: they’re using discarded tiger prawn shells—about 50,000 tonnes of which are thrown away in Bangladesh each year—to create a functional fertilizer that absorbs salt. This fertilizer leverages chitin in the shells to sequester salt, acting like a seawall that reduces salt buildup and helps retain both fertilizer and water in the soil. But MFM’s approach goes even further. They’ve developed a precisely optimized chloride metering regime using hyperspectral imaging data, which they collect and process, combined with micro-scale feeding control technology. With Bangladesh, India, and Vietnam producing the highest volumes of tiger shrimp by-products globally, MFM is partnering with companies and organizations in these countries to conduct proof-of-concept (PoC) trials. This groundbreaking approach has the potential to transform salt-damaged soils while repurposing waste, a true eco-friendly innovation!
The most foodie risk taker: Toasterz
Do you enjoy baking at home? If so, you’re a true home baker! To be efficient, time management is essential, especially since baking often requires more preparation than you might expect. Take sourdough, for example—its dough typically takes about a week to fully ferment. Sourdough bread, or pain au levain, is made from naturally fermented rye and wheat flour over this period. To make the process easier, Toasterz developed the Sourpot, a smart hardware device that allows you to control exactly when your dough is ready. With automated temperature settings and customizable schedules, the Sourpot is designed to fit perfectly into your routine. The accompanying app lets you fine-tune your dough for taste, chewiness, and nutrition. Want fresh sourdough on Friday evening after a busy week? Just set it to start fermenting at the right time, and you’ll get a perfectly leavened dough when you need it. With the Sourpot, you can make not only sourdough bread but also sourdough pizzas, cookies, and more—all with a starter that’s ready on your schedule.
The most experimental risk taker: Pnaseer
Pnaseer has developed the world’s first one-step drug delivery platform, where the materials in the drug self-assemble on their own. Bio-particles—including stem cells, viruses, exosomes, proteins, and genes—are encapsulated, forming a hydrogel selectively in under 10 minutes. Traditional pharmaceutical processes have been complex, time-consuming, and costly, but Pnaseer’s breakthrough simplifies this with self-assembly technology. The founder of Pnaseer initially explored ways to use the natural affinity between various polymers and particles to develop new drugs by isolating specific compounds. This led to the idea of creating drugs that would autonomously form the required structure. With this concept and new technology, he launched Pnaseer. And now they apply this innovation primarily to cosmetics. Their platform is currently utilized by aesthetic clinics in Southeast Asia to enhance the efficacy of skin boosters. Backed by a global R&D consortium in Japan, Korea, and Europe, Pnaseer is building an international network to expand their pioneering approach.
The most emotional risk taker: HMBZ
If your company uses Slack, how do you usually show appreciation for a teammate? Often, it’s just a thumbs up or a clapping emoji. HMBZ saw an opportunity to build a more vibrant culture of recognition and support, so they created a plugin-based SaaS solution to make acknowledging one another easy and engaging. Their solution empowers organizations to foster a culture of appreciation by enabling natural recognition moments. For example, they’ve automated birthdays and work anniversaries through employee profile cards, letting congratulations flow naturally within Slack. They’ve even built in data tracking, allowing companies to export recognition data via CSV for streamlined reporting. Looking ahead, HMBZ is setting up a global partner ecosystem with Salesforce and plans to develop 15 enterprise Slack plugins to further enhance digital workplace interactions. While headquartered in South Korea, HMBZ also has offices in Singapore, Japan, the US, and beyond, bringing their mission of supportive feedback and recognition worldwide.
