K-STARTUP GRAND CHALLENGE PROJECT

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benefits

BENEFITS OF
COMING TO KOREA
WITH YOUR CREATIVE IDEA

1
Final Package

(Prize and Settlement support fund)

25 winning teams will be given a special financial package, which consists in:
1) a common grant for all 25 teams (about $27K, 32,000,000 KRW)
2) additional grants for the top 4 teams (from $6K to $100K)
3) potential investment from a Korean accelorator against equity.

2
Sponsorship

(Samsung, LG, Hyundai Morotors, KT, KAKAO, Naver, CJ, SK, etc.)

Korea’s major companies such as Samsung, LG, Hyundai Motors, KT, Kakao, and Naver will be participating in the program. Selected teams will be able to interact with these companies through conferences, seminars, workshops, etc.

3
Free Office and Project Space

(Startup Campus)

Selected teams will be provided with project space including equipment for product / service production and development, testbeds, as well as an incubating infrastructure at the Startup Campus in Pangyo Techno Valley.

4
Accelerating Program

(4 months)

50 teams will be selected to join a 4-month-long Accelerating program during which they will receive:

  • a free office space
  • 1-on-1 mentors
  • information sessions on Korean and Asian business culture, as well as specific
  • business topics (e.g. patents, accounting, regulations, tax laws, etc.)
  • access to regular networking sessions
  • exposure to Korean major companies

5
Help Desk & Visas

As the South Korean government supports the improvement in Visa regulations for foreign startups and entrepreneurs through the new OASIS program, Visa-related issues will be taken care of by the Korean government. Also, various services are available for overseas startups such as administrative support, translation and interpretation, housing and so on.

6
Preliminary Prize

The selected 50 teams will receive a prize of $833 (1,000,000 KRW, up to two persons per team)

7
Subsidies, $2,900/month for 4 months

The 50 teams participating in the Accelerating program will be given $2,900 (3,500,000 KRW) per month to cover housing and living expenses in Korea.

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