XP Fantasy Is Going to Korea!
Hey everyone,
The XP Fantasy team is excited to share some important news with you! In one week, we will be competing in the 2021 K-Startup Grand Challenge (“KSGC”) program and our co-founders, Arjun and Justin, will be travelling to South Korea for 4+ months to participate in KSGC in-person.
What is the K-Startup Grand Challenge?
KSGC is a start-up accelerator program, designed to attract promising foreign startups to South Korea. This initiative is run and supported by the Ministry of Small and Medium Sized Enterprises and Startups of the Republic of Korea.
Of the 2600+ companies that applied, 60 startups were selected by KSGC to participate in this year’s program. These 60 teams will be staying in Korea to participate in KSGC’s four-month acceleration program (from Aug 16 to Nov 30), with the goal of entering and building traction within the Korean market. The KSGC program will be held in a state-of-the-art startup campus in Pangyo Techno Valley (commonly known as the “Silicon Valley of Korea”), where all teams will be provided with working space, meals, and various other facilities. Most importantly, these teams will be mentored by successful Korean businesspersons, attend informative workshops on entering the Asian market, and have access to regular networking sessions.
At the end of the program, each startup will be evaluated on their progress and growth over the preceding 4-months, from which the top 30 teams will be selected to remain in Korea for an additional 4-month period. The top teams will be rewarded with financial incentives upwards of $300,000, and will receive support from the government if they continue to operate their business in Korea.
Application Process
The application process took place over several months — it started in April 2021 and included a detailed written application, an investor pitch deck, and a live-pitch before 20+ judges who evaluated our business. Of the 2500+ teams that applied to this year’s KSGC cohort, only 60 startups were selected with 10 from North America, and XP Fantasy is excited to be one of them.
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This is a very exciting milestone for XP Fantasy and we can’t wait to update everyone on our progress as we enter Korea over the coming months. Stay tuned!
