K-STARTUP GRAND CHALLENGE PROGRAM

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benefits

BENEFITS OF
K-STARTUP GRAND CHALLENGE
BENEFITS

1
Accelerating Program

(3.5months)

40 teams will be selected to join a 3.5months 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

2
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, housing and so on.

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
Corporate Sponsorship and Support

Korea’s largest tech companies will participate in various seminars, workshops, and 1-on-1 mentoring. If you need any help beyond the scope of the K-Startup Grand Challenge program, you can be a partner with these companies and receive resources and their expertise.

5
Living Expenses

(Aug – Nov 2019)

Each of the 40 startups in the program will receive about $10,840 per team to cover the living expenses over 3.5 months.

6
Final Package

Grant for Top 20 Startups (Jan – Apr 2020)
Each of the selected top 20 startups will be eligible to receive a total funding of $10,840 for 3.5 months.

Grant for Top 4 Startups
1st Prize : $100,000 (₩113,000,000)
2nd Prize : $40,000 (₩45,200,000)
3rd Prize : $20,000 (₩22,600,000)
4th Prize : $6,000 (₩6,780,000)

Additional Investments :
The accelerators may make equity investments in the most promising startups. Startups may have access to other VCs and investors who may choose to invest.

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