Asia is a valuable market for startups who want to be globally competitive; holding over half the world’s population and home to a diverse startup ecosystem, startups have much to gain when they are able to access Asia.
At the gateway is South Korea. As the world’s most connected country (95 per cent of the country is covered by Wi-FI and has the fastest average internet connection globally) and home to some of the world’s largest companies, South Korea provides a conducive environment for technological innovation.
With the government’s support, South Korea’s startup ecosystem is well-structured and is attracting the attentions of investors, incubators, and accelerators all over the world. Its Ministry of Science, ICT, and Future Planning and the National IT Industry Promotion Agency, has been an active player in the development of it’s startups community and the push for global innovation, one programme of which is the K Startup Grand Challenge.
K Startup Grand Challenge 2017
Fifty top ranked startups will be selected and invited to stay in Korea as they participate in a four-month accelerator programme, where they will be able to interact with the programme’s partner companies through conferences and workshops, have one-on-one mentors, have access to administrative, regulatory, and logistics support, and will be provided with workspace, equipment, testbeds, and an incubating infrastructure.
The programme partnered with Korean business giants Samsung, Hyundai, Kakao, KT Corporaton, and SK Group, to name a few, who would lend their expertise of the local Korean and global markets to the startups.
At the end of the programme, all 50 startups will present in a demo day where a panel of judges will select 25 startups.
The 25 selected startups will each receive additional financial grants as well as support from the government as they take part in a 6-month settlement programme. As the startups establish their business in Korea, they will also receive mentoring from the programme’s Korean multinational partners, participate in regular networking sessions, and have access to startup campuses and innovation centers. The top 4 finalists will also receive additional financial grants.
The programme is open to all technology-based startups globally, that has been established within the past 5 years, has a prototype or product/service, and are at initial investment stage.
Go global now. Click here to apply.
Disclosure: e27 is a partner of the K-Startup Grand Challenge 2017
A previous version of K Startup Grand Challenge is a gateway for startups to be globally competitive, set to begin accelerator programme soon first appeared on e27.