The winners of the fourth Korea-ASEAN Business Model Competition for SDGs 2023 were captured in a photo following the event, as reported by the Green Business Center. In October, the fifth edition of the competition will be co-hosted by South Korea's Ministry of SMEs and Startups and Indonesia's Ministry of Cooperatives and SMEs. Launched in 2020, the annual competition aims to promote cross-border collaboration to support startups and small and medium-sized enterprises from both Korea and Southeast Asia. Entrepreneurs will have the opportunity to showcase their solutions aligned with the United Nations' Sustainable Development Goals at the competition, which will feature an online Demo day event on Oct. 16. The event will include pitch sessions, panel discussions, and networking opportunities with industry leaders and investors. Startups and SMEs with less than seven years of operation are eligible to compete for a total of $10,000 in cash prizes. The 10 finalists will also receive certificates of recognition from Indonesia's Ministry of Cooperatives and SMEs and gain access to investment opportunities, mentorship, and networking with venture capitalists. Additionally, they will benefit from a tenancy at the Green Business Center in Jakarta, Indonesia. Lee Seok-tae, secretary general of ASEIC, expressed that the competition will enable SMEs in Korea and ASEAN member states to establish global market opportunities with business models based on the SDGs. Online registration for the competition will be open until Sept. 5.