The K-Startup Grand Challenge helps early-stage startups with funding and support in Korea – apply now through June 15
Premier early-stage global startup accelerator K-Startup Grand Challenge (KSGC) is looking for innovative technology entrepreneurs and startups to participate in the sixth installment of its yearly competition located in Pangyo Techno Valley, the Silicon Valley of South Korea. Open to all across tech sectors, KSGC is attracting many entrepreneurs and startups looking to expand their market reach in South Korea and Asia.
The K-Startup Grand Challenge hosts 60 teams from around the world to compete for a $120,000 grand prize. Teams spend 3.5 months in South Korea’s Pangyo Techno Valley developing products and services to debut their projects on Demo Day. Teams have the opportunity to meet with the program’s corporate partners and receive one-on-one mentorship with some of Korea’s top tech companies to enhance their understanding of ecosystems in Asia and strengthen their business knowledge and skills on what it takes to make it in the industry.
KSGC covers each team’s living expenses, so they can focus on what really matters: their startups. In addition, each team will have access to:
- Co-working space at the Startup Campus in Pangyo Techno Valley
- Accelerators and VCs for equity investments
- Networking opportunities and sessions on Korean and Asian business culture
- Visa support and a help desk at the Campus
- Local interns
Recently, South Korea has received recognition for its contribution to tech, ranking number one in the world on innovation. South Korea has seen substantial growth as the home for sizable global market leaders like Samsung and LG. A science and technology hub, it has maintained a global competitive advantage over other developed countries. Its emerging tech capital, Pangyo Techno Valley, continues its mission to be at the forefront of innovation with 60 of Korea’s top startups located on its campus.
Many companies that have participated in the competition have seen success with establishing a presence in the Asia market and securing funding. Since 2016, the K-Startup Grand Challenge has helped over 100 companies maintain satellite offices in Korea at the end of the competition. It has also generated $1.4 billion in domestic and international investments for participating startups. Last year, Dallas, TX-based motion tracking startup Ommo Tech won the $120,000 grand prize and secured $3 million in additional funding.
There are also opportunities for other participating startups to win or secure investments. The Challenge offers cash prizes of up to $100,000 for second to tenth-place winners. Non-equity grants are available to teams placing 11 to 30, totaling $11,136 each.
The K-Startup Grand Challenge is a program to encourage and promote entrepreneurship and innovation in the tech industry. Put on by organizations like Korea Innovation Center Silicon Valley and the National IT Industry Promotion Agency, KSGC is also backed by the Government of South Korea to advance its plans for entrepreneur and startup growth in the country.
Applications for the K-Startup Grand Challenge 2021 are open and set to close Tuesday, June 15 at 11:59 p.m. Pacific Daylight Time. To learn more about K-Startup Grand Challenge or apply for the competition, visit: https://www.k-startupgc.org/.