K-Startup Global Challenge – 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 3.5 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.
Introduction – K-Startup Global Challenge
Industry 4.0 is a paradigm shift for the whole world. Major changes are happening with the merging of artificial intelligence, augmented reality, block chain, vehicle automation, smart factories and more. With culture and infrastructure that quickly adapt to the most recent technological advances, Korea is at the center of all.
With 221 accelerators and 134 innovation centers (as of February 2021), Korea provides the best support and environment for startups just beginning their journey.
Last year, 2,568 startups from 129 countries competed to be selected for the 2021 K-Startup Grand Challenge. 54 of them were selected to participate in a 3.5 month-long acceleration program.
The top 30 teams were then chosen in the Demo Day in November. The selected teams were given additional funds for 3.5 months which help them to successfully claim their place in Korea.
The startups that participated in the K-Startup Grand Challenge were evaluated by specialists in each tech area and given a chance to network with them.
Startup Factors
. WHO
60 global startup teams will be selected
. WHAT
Acceleration program, mentoring, 1:1 business meeting, Korean intern provided, settlement fund(top 30-60), prizes(top 10), office space.
. WHERE
Startup Campus in Pangyo Techno Valley, 14 minutes south of GangNam, South Korea.
. WHEN
KSGC program : August 1 – November 15, 2022 (Application period : April 15 – May 31, 2022)
STARTUP SELECTION CRITERIA – K-Startup Global Challenge
- Startups that are less than 7 years old or pre-entrepreneur whose representative holds a foreign nationality.
- Promising startups with a clear objective to expand into Asia by using the Korean market as a stepping stone.
How to Apply for K-Startup Global Challenge 2022
Interested persons should click here and apply
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