HydroXpand, X-Mutt Win Grand Prize at 'Challenge! K-Startup 2025' Championship

## 'Challenge! K-Startup 2025' King of Kings Competition Concludes Successfully, HydroXpand and XMUT Crowned 'Startup Champions' The heart of Korea's startup ecosystem, Seoul COEX, successfully concluded the grand finale of the 'Challenge! K-Startup 2025' King of Kings competition, which was filled with the fervent passion of innovation for three days from the 10th to the 12th. Celebrating its 10th anniversary this year, this competition stands as the nation's largest startup contest, jointly operated by 10 government ministries, including the Ministry of SMEs and Startups. A record-breaking 7,377 teams participated, achieving an astonishing competition ratio of 369 to 1, truly serving as a platform to witness South Korea's innovative capabilities. The coveted Grand Prize, or the "King of Kings," was awarded to 'HydroXpand' in the Startup League and 'XMUT' in the Pre-Startup League. Amidst enthusiastic praise from the judges, both teams emerged as central figures in innovative technology poised to lead the future of South Korea. 'HydroXpand,' the Grand Prize winner in the Startup League, received 300 million won in prize money and garnered recognition for its technological prowess. The company developed a high-efficiency electrolysis stack based on anion exchange membranes to fundamentally address the high-cost issue in the electrolysis process. This technology, which significantly enhances the economic feasibility of hydrogen production, is poised to become a core driver in the future energy transition era. 'XMUT,' which secured the Grand Prize in the Pre-Startup League, emerged as a frontrunner in medical technology innovation, along with a prize of 200 million won. XMUT drew significant attention by developing a disposable ultrasound patch that replaces the lead-based piezoelectric elements, traditionally used in central venous catheterization ultrasound devices, with eco-friendly and safe materials. This is anticipated to be a sustainable solution that not only enhances patient safety but also contributes to addressing the medical waste issue. Furthermore, the Excellence Award in the Startup League was presented to Easy Korea and V&E, while PROFUSIO and The Matrix received the Excellence Award in the Pre-Startup League. In total, 20 teams showcased innovative ideas and technological prowess, collectively receiving 1.38 billion won in prize money. Beyond merely the financial awards, winning teams will also be granted exceptional follow-up support benefits, such as exemption from document evaluations in government startup support programs like the 2026 Preliminary, Early, and Leap Packages, which will provide a solid foundation for their continued growth. No Yong-seok, the First Vice Minister of SMEs and Startups, expressed his sincere hope, stating, "I genuinely wish that the winning teams of this competition will follow in the footsteps of previously successful innovative companies like Riiid Technologies and LD Carbon, to become the central figures leading South Korea's startup ecosystem." He further affirmed, "The government will serve as a steadfast partner, providing unwavering support as startups embark on their innovative journeys," thereby conveying both high expectations for the future of the winning teams and the government's firm commitment to support. 'Challenge! K-Startup 2025' was more than just a competition; it served as a significant platform to confirm the passion and potential of South Korean entrepreneurs and to sow the seeds for future innovation. We anticipate that the innovative companies discovered through this competition, including HydroXpand and XMUT, will achieve brilliant results not only in South Korea but also on the global stage.