Application Deadline: June 14th 2017
The Korean government is working to transform the country’s economy for another century of success,
ultimately raising employment, the GDP and Korea’s place in the world. In order to do this, the government
is supporting talented entrepreneurs and promising startups to turn Korea and Pangyo Techno Valley into
a global startup hub in Asia.
The top ranked 50 teams selected by the accelerators will be invited to stay in Korea to participate a
four-month accelerating program in Pangyo, located south of Seoul. At the end of the accelerating program, the government will host a Demo Day to select the top 25 startups
from the program. They will get additional financial incentives, and if they establish their businesses in
Korea, they will get additional support from the government
- Four-Month Accelerating Program
For the final 50 teams, each team will get $833 (1,000,000 KRW) for audition prize (up to two persons per team).
Each of the top 25 startups, selected during the final Demo Day, will receive $27,000 (32,000,000 KRW) if they
set up a legal entity in Korea. The top four teams will be rewarded with grants of between $6,000 and $100,000.
Impressive startups may also be offered equity investment opportunities from accelerators and local VCs.
- Free Office and Project Space at Startup Campus
You’ll be able to work in Korea’s new Startup Campus in Pangyo, located within walking distance of many of
Korea’s top tech companies, and just 14-minute subway ride away from Gangnam district of Seoul.
Furthermore, you’ll be provided with an office space for your team, as well as equipment and project space
to work on producing or perfecting your product or service. This includes access to a production space
filled with 3D printers, hardware testing platforms and more.
- Corporate Sponsorship and Support
Korea’s largest tech companies will participate through seminars, workshop and 1-on-1 mentoring. If you
need any help beyond the scope of the K-Startup Grand Challenge acceleration program, you may be able
to partner with these companies and receive resources and their expertise.
Companies signed on to support you include Samsung, Hyundai Motors, SK, LG, Lotte, GS, Hanwha, Hanjin,
Doosan, KT, CJ, Hyosung, Kakao and Naver.
- Visas & Help Desk
If you are selected for the accelerating program, we will make sure your Startup Visa is processed quickly
and efficiently. This is part of the government’s OASIS program, aimed at the entrepreneurs. Beyond help with your visa, you’ll also have access to administrative support, translation and interpretation, to make sure that you can work effectively while in Korea.
- Startup Campus in Pangyo Techno Valley, 14 minutes south of Gangnam, South Korea.
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