Korean start-up wins top prize in Boston competition

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Korean start-up wins top prize in Boston competition

Published: 04 Nov. 2016, 20:07

EYL, a Korean start-up, won the Diamond award in the Boston Mass Challenge, an annual $1 million global start-up competition and accelerator program, also known as the Start-up Olympics.

The award was given Wednesday local time, said the Ministry of Science, ICT and Future Planning Thursday.

The company developed machines that generate what are called micro random quantum numbers, which generate numbers that can’t be predicted, which could be used for digital security.

This is the second time a domestic start-up has made it to the finals of the competition, and the first to receive the highest award. The Mass Challenge is the biggest of all startup competitions. It began in 2009 and some 2,600 companies took part in this year’s event.

The Korean company was praised for its high-end technology and growth potential. “We will support many others to help grow the next EYL,” said the ministry.