Global Programs for Startups in Korea
South Korea is an emerging hub for high-tech entrepreneurship within Asia. With an active government support network, emerging startup community, tech-savvy 50million+ populated market South Korea is a great testbed and gateway to the regional tech scene. Here are some startup/entrepreneurship programs in Korea targeted towards foreigners; expect the list to grow longer as we continue to update it. 💪
Seoul Global Startup Center
Run by N15, Korea’s first hardware accelerator, and Wework Labs — Seoul City’s Seoul Global Startup Center is a dedicated space for foreign run startups, aiming to expand their businesses in Korea. This year-long residence program offers not only office infrastructure, but also expert mentoring and support for growing your business here.
Where:
Seoul Global Startup Center
3F, 109, Cheongpa-ro, Yongsan-gu, Seoul, Republic of Korea (MAP)
For Whom:
Business Incubation
. less than 3 years of business registration*
. at least one founder must be a foreigner
post — Business Incubation
. 3–7 years of business registration*
. at least one founder must be a foreigner
*all candidate teams must have a business registered in Seoul by no later than the beginning date of the program.
Duration:
1 year (starting from May 1st, 2020)
Application Process:
>>HERE<< UNTIL MARCH 23, 2020
- Online application : describe your business model, target market, plans for the future growth + submit the required documents (business registration, Alien Registration Card of the founder(s)).
- Pitch Video : 5 min pitch of your business, to be submitted by April 10th.
Contact:
apply@seoulgsc.com
[RECRUITING NOW] ASAN SANGHOE
Curated by The Asan Nanum Foundation and it’s strategic partners (MTA Korea, weave, Korea Hana Foundation, North Korean resettler cooperative Yovel as well as social impact accelerators: Krypton, sopoong, mysc) — ASAN SANGHOE is a very unique team-entrepreneurship program. 30 young prospective entrepreneurs from North Korea, South Korea and other nationalities (residing in Korea), cooperate on business ideas, whilst learning the power and formation of teamwork. The program includes a marketing research trip to Europe, where the participants discover the achievements of social entrepreneurship. Successful teams can count on investment and mentorship opportunities.
Where:
The Asan Nanum Foundation
208 Dongho-ro, Sindang 2(i)-dong, Jung-gu, Seoul (MAP)
For Whom:
- North Korean, South Korean, foreign youth, willing to start a business
(no older than 39)
- Those who are interested in unification impact business ventures and willing to pursue a business project with North Korean resettlers
- New business founder (less than 1 year from registration, based on Business Registration Form) or prospective entrepreneur
- (foreigners) at least intermediate proficiency in Korean
Duration:
Incubation Phase : 4 months (May 20 — September 28)
Acceleration Phase : 3 months (Sept — Nov)
Application Process:
>>HERE<< UNTIL APRIL 23, 2020
- Online Application (basic information + essays)
- Interview with coaches (April 18–19)
Program details HERE.
Contact:
+82–2–741–8238 / asansanghoe@asan-nanum.org
[RECRUITING SOON] K-Startup Grand Challenge
Organized by National IT Industry Promotion Agency, under the patronage of the Ministry of SMEs & Startups — K-Startup Grand Challenge is a mid-term program, designed for foreign startups establishing their businesses in Korea. Stationed in Pangyo’s Startup Campus, about 50 teams from all over the world get all the support to scale up their businesses here. Our advice before applying: Make sure Korea is the right market for your startup by doing some preliminary research.
Where:
Pangyo Startup Campus
12, Daewangpangyo-ro 645beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea (MAP)
For Whom:
Startups from around the world that are determined to expand their business presence in Korea and open an office here.
What:
Business & living stipend, expert mentoring, 1:1 networking meetings with Korean corporates, support with visa (OASIS program)
Duration:
4 months (August — December) + 6 months for top 20 teams
Application:
usually announced around April/May >>HERE<<
K-Ground
A short-term program, organized by Korea Institute of Startup & Entrepreneurship Development, also under the Ministry of SMEs & Startups- K-Ground is designed to give a taste of the Korean market by giving possibilities to startups that are not yet ready to commit to a full-time presence here. An intensive 1-week stay is filled with meetings, seminars, workshops and networking events that help you discover the possibilities and opportunities of the technology and entrepreneurship scene here.
Where:
In Seoul and Gyeonggi-do area (a lot of visiting of different institutions and startup hubs)
For Whom:
Startups that want to taste Korea’s tech and startup scene.
Duration:
One week in October/November
Application:
Conducted by KISED’s partner institutions around the world.
For more information contact the Institute.
Seoul Global Business Center
Situated in Seoul Global Center, Seoul Global Business Center offers an all-inclusive consulting spot, when it comes to getting the right visa and establishing your business in Seoul. The Center also offers an in-house incubation program, with office space and legal mentoring services.
Where:
in Gongdeok and Gangnam Centers
For Whom:
Foreigners residing in Korea, who want to try their hand at running a business (not necessarily startups!)
Duration:
6 months (recruiting in May & November)
Application:
On the center page
Contact:
02–6001–7243 / sgc.incubation@gmail.com
Techstars Korea
The famous global accelerator Techstars has recently launched its first program in Korea. Like all Techstars’ programs, this intensive 13-week bootcamp will force you to grow your startup more than you would within a year-and-a-half. Startups from all around the world are welcome.
Where*:
Pangyo Startup Campus
12, Daewangpangyo-ro 645beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea (MAP)
* Depending on the Corona-19 situation, part or all of the program will run remotely.
For Whom:
Startups of all different stages with a good idea and even better team
What:
Expert mentoring (Techstars global mentor network), seed funds, investor connections, local ecosystem networking
Duration:
13 weeks (June — September)
Application starts the previous year in December, so keep your eyes open on the Techstars website.
Contact:
Drop a message to the program MD, Eunse Lee
