This year marks the 4th year of K-Startup Grand Challenge which has been a part of South Korea’s global startup acceleration programs organized by the Ministry of SMEs and Startups and the National IT Industry Promotion Agency.
K-Startup Grand Challenge was established with the goal of promoting the expansion of an open entrepreneurship ecosystem in Asia and assisting in South Korea’s evolution into a prominent startup business hub in the region. The program invites startups with creative and innovative ideas from all around the world to Korea and helps them to settle in the Korean startup ecosystem through various support programs.
Startups or individuals looking forward to start a business in Korea are eligible to apply for the K-Startup Grand Challenge. A total of 40 teams will be selected to participate in the acceleration program at Startup Campus located in Pangyo for 3.5 months. The acceleration program includes 1-on-1 mentoring, information session and consulting, potential corporate partnership opportunities, and many more.
Once accepted, you will receive a free office space for your team at Korea’s new Startup Campus in Pangyo, located within a walking distance of many of Korea’s top tech companies and just 14-minute subway ride away from the famous Gangnam district of Seoul.
Furthermore, the participants will receive support to acquire proper visa for the smooth settlement in Korea. Teams with outstanding performance at the Demo Day in December will receive grants up to $100,000 on top of the comprehensive support for successful settlement in Korean market. They will also have an opportunity to attract investments from various VCs in Korea.
Korea has a great environment to launch startups. The K-Startup Grand Challenge 2019 may benefit startups immensely with its excellent infrastructure, extensive governmental support, and robust patent system. More information can be found on the website of the K-Startup Grand Challenge 2019 and on the KSGC Facebook page. The application deadline is on June 14th (6am UTC+2).