Ready For K-Startup Grand Challenge 2017?
Win Startup Mentorship and Funding from Shift Korean Accelerator
Yesterday, I came to K-Startup Grand Challenge event hosted by Ev Hive Coworking Space. It’s info session for their upcoming startup challenge to get mentorship from Shift — Korean Accelerator. In definition, K-Startup Grand Challenge is a project conducted and financed by the Korean government. The 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 prominent startup business hub in the region.
What Startup gain from the Challenge
Fund
Living Expense, Audition Prize, Grant for Survivors, Grant for Top 4 Winner
Visa
Visiting Visa for start, 6 months temporary visa and 2 years entrepreneurship visa
Accelerating
Common seminars(101) 5 Accelerator’s program, Free Office at Pangyo Techno Valley, Seoul, South Korea
Shift. Batch 2016 Alumni Teams
SV Based Startups — Hardware/Software/Service
Traversal Networks, achieve:
- MOU with Korean mid size corporations
- Biz connection with NAVER
- Hiring designers and engineers
European Startups — Hardware/Software/Service
Clear Flight Solutions
- NDA/MOU with Airlines and Cheil WW
- Pilot test with Korean Air-Force
SEA Startups — E-commerce/Logistics
Versafleet
Favful
Target Sectors
Ai, Software, IoT, Virtual Reality, Augmented Reality, FinTech, Big Data, Information Security, Urban Solution, BioTech, UHD, Digital Content, Wearables, Gaming, Beauty, Logistic
Process Selection
31 March-7 June: Promotion & Receiption of Applications
3rd week of June-2nd week of July: Global Auditions (Top 50 teams will receive a prize of $833/person)
7 Aug-30 Nov: Acceleration Program, Support for living & daily expenditure $2900/month/team, Up to two members per team
Early December: Demo Day & Settlement Program, Top 25 teams will be selected and awarded additional prizes($27k/6month)
Korea by now becoming more globalized than ever. The growth doesn’t seem like will stop anytime soon. The government has played a positive role in legitimizing entrepreneurship as a career. Examples success startup in Korea include the commerce portals TMON and Coupang, founded by Korean-Americans Daniel Shin and Bom Kim, respectively.
Kakao Talk’s multibillion dollar IPO has also proven that money can be made in tech entrepreneurship. Even Samsung now runs at least four internal accelerators, one of which (C-Lab) was established specifically to enable employees to pursue startup ideas. Employees who leave the workforce and join C-Lab get support, including seed funding.
So, interested to join K-Startup Grand Challenge 2017?
Stay tune for the next article ;)
Originally published on Remote Office.
