K-STARTUP GRAND CHALLENGE PROGRAM
The Korean government is working to transform the
country's economy for another century of success, ultimately raising
employment, the GDP and Korea's place in the world. In order to do this, the
government is supporting talented entrepreneurs and promising startups, to turn
Korea and Pangyo Creative Economy Valley into a global startup hub in Asia.
The top ranked 60 teams selected by the accelerators will
be invited to stay in Korea to participate a 3 month accelerating program in
Pangyo, located in the south of Seoul.
At the end of the acceleration program, the government will host a demo day to select top 30 startups. These startups will get additional financial incentives, and if they choose to establish their businesses in Korea, they will get additional support from the government.
STARTUP
SELECTION CRITERIA
·
Technology-based
startups that have prototype or product/service and at initial investment
stage.
·
Global
startups.
·
Startups
that have been established within that past 7 years are eligible to apply.
APPLICATION
PERIOD
May 15th – June 25th
We
accept application from startups around the world during this time.
Application Deadline:
June 25th, 2020
APPLICATION
REVIEW
June 29th – July 2th
The experts of foreign
startup ecosystem and Korean accelerators will review all applications.
GLOBAL
AUDITIONS(On-line)
July 9th – 15th
Based on application
review, the organizers of the K-Startup Grand Challenge will select 60 teams
from around the world to interview by online via web conferences.
60 teams total will be selected by accelerating company.
ACCELERATING
PROGRAM
September 1st – November
30th
(Support
for living & Daily expenditure : 3,500,000 KRW/month/team of one person,
5,000,000 KRW/month/team of two people)
1.
The
three months.
2.
Up
to two members of each of the most promising startup teams will travel to
Korea.
The 60 teams will be able to use a project space, including equipment for
product production and service development, test bed as well as an incubating
infrastructure information sessions and coaching on Korean and Asian business
culture, specific business topics (e.g. patents, accounting regulations, tax
laws, etc.), pitching lessons and one-on-one monitoring will be provided.
3.
The
teams will be able to interact with Korean companies including major companies
such as Samsung, Hyundai motors, KT Corporation or SK Group through
conferences, seminars, workshops, etc.
4.
Meanwhile,
networking and matchmaking events will be organized throughout the program in
order to promote international cooperation between startups, local successful
entrepreneurs, distinguished researchers and engineers and large company
representatives.
DEMO
DAY
November 19th – 21st
The
program will culminate with a highly publicized Demo Day, where the top 30
teams will be selected and awarded with additional prizes.
The top 30 startups selected will each be eligible to receive a total funding
of 12,250,000 KRW for settlement in Korea based on performances on the ‘Demo
Day’ and Settlement Evaluation.
For FAQ: Click here
To get more information daily, hit the Subscribe button or click here to get daily updates on
your WhatsApp.
Comments
Post a Comment