Apply until June 14th: South Korea Startup Challenge

Lux Future Lab » Apply until June 14th: South Korea Startup Challenge

The Luxembourg Chamber of Commerce would like to inform you that the “Korean Ministry of Science, ICT and Future Planning” and the “National IT Promotion Agency” are organising “K-Startup Grand Challenge” program in South Korea.

The driving idea behind this project is to endorse the inflow of promising start-ups interested in the Korean or the broader Asian market through a global start-up acceleration program. This project gives start-ups the opportunity to expand into the Asian market thorough Korea, thereby using this country as a foothold for their international cooperation in Asia.

A total of 80 start-ups from all over the world will be selected and invited to Korea to take part in a 1 week-long pitching evaluation.

Companies selected for the initiative will receive $4,100 per month to cover living expenses, along with free round-trip flights to Korea for three team members. The government will also provide the teams with offices and lab space in its $160 million Start-up Campus in Pangyo. The program is supported by SparkLabs, DEV Korea, Shift and ActnerLab.

The performance of the companies involved in the initiative will be judged at the end of the three month period. The top 20 winning teams will receive approximately $30,000 in no-strings funding and the top four startups will receive between $6,000 and $100,000 on top of that and potential investment from a Korean accelerator against equity.

So if you are a start-up and you are interested in Korea or the Asian market, apply before the 14th of June 2016.

For further information about the program or in order to apply, please visit the website: www.k-startupgc.org or contact:

  • Younhee Kim, Executive Director – Tel : +82 2 777 2552 – yh.kim(at)luxembourg.or.kr
  • Violaine Mathurin, Advisor, International Affairs – Tel: +352 42 39 39-481 – asia(at)cc.lu

 


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