Startups Globally Can Now Apply for K-Startup Grand Challenge

Applications are on for the 2018 edition of the K-Startup Grand Challenge scheduled to hold in Seoul, South Korea.

K-Startup Grand Challenge is a startup accelerator program supported by the Government of South Korea.The program was launched in 2016 by the National IT Industry Promotion Agency (NIPA) and funded by the Ministry of SMEs and Startups of South Korea.The program is based in the Pangyo Techno Valley, known as the Korean version of the Silicon Valley.

Also, the ultimate objectives of the K-Startup Grand Challenge are to promote the expansion of an open entrepreneurship ecosystem in Asia and to assist South Korea’s evolution into a prominent startup business hub in the region.

The selection process is composed of three rounds:

• Worldwide application usually runs for several months. In 2016, 2,439 startups applied from 124 countries. In 2017, 1,515 startups applied from 118 countries.
• Global auditions to select 80-100 teams for interview and in-depth review by invited judges.
• Final selection of 40-50 teams for participation in the program.

As part of benefits ,the selected startups receive a three-month support program that comprises financial support, visa and incorporation support, as well as matchmaking with Korean tech companies, including Samsung Electronics, LG Electronics, Kakao, Naver, POSCO, KT, and others.

The acceleration program culminates with a Demo Day, after which half of startups receive additional $33,000 in funding from the government, with the top four getting a prize of $6,000 to $100,000.

Application closes on 14^th June, 2018 at 23:59.

Interested startups can click here to apply.