- 7 June 2019 14:33
One week left to sign up for leading startup challenge
South Korea’s National IT Industry Promotion Agency (“NIPA”) recently announced a call for applications for the 2019 edition of the K-Startup Grand Challenge (“KSGC or KSGC 2019”), with entries closing on June 14th.
The KSGC, first launched in 2016, is a South Korean government-backed project jointly organised by its Ministry of SMEs and Startups, and its National IT Industry Promotion Agency. The awards are aimed at promoting the expansion of an open entrepreneurship ecosystem in Asia.
Interested startups and entrepreneurs-in-the-making who meet the following criteria can submit their applications at http://kicc.sg/kstartupgc-2019/
1. Applicant is part of a startup that is less than 7 years old, or a pre-entrepreneur whose representative holds a foreign nationality or is an overseas Korean (foreign compatriot).
2. Applicant is part of a startup with a clear objective to expand into Asia by using the Korean market as a stepping stone. Selections for the award will largely be based on the level of creativity in each startup’s concepts and technologies, and 40 startups chosen from across the regional auditions will be invited to South Korea for a 3-and-a-half-month program from 15 Aug to 30 Nov 2019.
The top 40 startups will also be fast tracked through a visa acquisition program called OASIS, which is aimed at giving entrepreneurs a head start for their business in South Korea. Access to administrative support, translation and interpretation will also be made available to ensure participating startups can work effectively while in South Korea.
With one week to go before entries close off, Australian entrepreneurs are encouraged to visit the website and apply.
Globally-renowned South Korean companies like Samsung, LG, Hyundai, Naver and Lotte are among the corporate entities already confirmed to lend their support to the program.