K-Startup Grand Challenge is a project conducted and financed by the Korean government. Ultimate objectives of the K-Startup Grand Challenge are to promote the expansion of an open entrepreneurship ecosystem in Asia and to assist in South Korea’s evolution into a prominent startup business hub in the region. Startups from all around the world who are interested in expanding their business in Asia or Korea are encouraged to apply.
Promising startups with a clear objective to expand into Asia by using the Korean market as a stepping-stone are eligible to apply.
K-Startup Grand Challenge 2018 Fields of interest:
- Artificial Intelligence
- Big data
- Information security
- Urban solutions
- Digital Content
K-Startup Grand Challenge Benefits
Each of the 80 startups in the program will receive about $11,130 to cover living expenses in equal installments over 3.5 months
Expert Support: Experts from some of the world’s top tech companies with experience in taking companies global
Corporate Partnerships:Meet Korea’s top tech companies with expertise ranging from smartphones to software to semiconductors
Application deadline: June 14,2018
Location: Startup Campus in Pangyo Techno Valley, Seoul, South Korea
Duration: August to December 2018
Grant for Top 40 startups
The top 40 startups selected in K-Startup Grand Challenge will each be eligible to receive a total funding of $22,727 for settlement in Korea based on performances on the ‘Demo Day’ and Settlement Evaluation.
Distribution of funding will be as follows:
– Initial distribution: 20% of total funding in January
– Remaining distribution will be made to startups that pass the performance evaluation held in April 2019.
(April: 50%, June: 30%)
Grant for Top 4 Startups
- 1st Prize : $100,000 (110,000,000 KRW)
- 2nd Prize : $40,000 (44,000,000 KRW)
- 3rd Prize : $20,000 (22,000,000 KRW)
- 4th Prize : $6,000 (6,600,000 KRW)
Note: The grant will be given in Korean Won.
Additional Investments: The Accelerators may make equity investments in the most promising startups. Startups may have access to other VCs and investors who may choose to invest’
Visit the official website for the K-Startup Challenge and sign up to create a profile. Fill the form and submit your application to make to to the top 80 startups who will compete in the competition.
Further details are provided on their website.
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