K-Startup Grand Challenge is a project conducted and financed by the Korean government. Ultimate objectives of the K-Startup Grand Challenge are to promote the expansion of an open entrepreneurship ecosystem in Asia and to assist in South Korea’s evolution into a prominent startup business hub in the region.
Selected startups get invited to the Startup Campus in Pangyo Techno Valley, Seoul, South Korea from August to December 2018. Each of the 80 selected startups in the program will receive about $11,130 to cover living expenses in equal installments over 3.5 months.
The top 40 startups selected will be eligible to receive a total of $22,727 each for settlement in Korea based on their ‘Demo Day’ and Settlement Evaluation scores. At the finals of the K-Startup Grand Challenge the Top 4 Startups will get awarded.
- 1st Prize: $100,000
- 2nd Prize: $40,000
- 3rd Prize: $20,000
- 4th Prize: $6,000
In addition, Korean accelerators may make equity investments in the most promising startups. Startups may have access to other VC’s and investors who may choose to invest.
Who Can Apply: Promising startups with a clear objective to expand into Asia by using the Korean market as a stepping-stone. The deadline for applications is June 14.
Other Benefits: You’ll have access to the Global Startup Campus, which is located 14 minutes from Gangnam. Experts from some of the world’s top tech companies will be ready to offer advice.