The 2019 edition of "K-Startup Grand Challenge" is accepting applications from interested start-ups and entrepreneurs with innovative and disruptive ideas wishing to work with some of the world's top tech companies.
Eligible candidates must be part of a start-up that is less than seven years old, with a clear objective to expand into Asia by using the Korean market as a stepping stone; or a pre-entrepreneur whose representative holds a foreign nationality or overseas Korean (foreign compatriot).
Singapore and a soon-to-be-announced country will be the only two locations in the Asia-Pacific region chosen for the upcoming regional auditions starting at the end of June.
Selections will largely be based on the level of creativity in each start-up's concepts and technologies, and only 40 start-ups chosen from across the regional auditions will be invited to South Korea for a three-and-a-half-month programme from Aug 15 to Nov 30.
They will be fast tracked through a visa acquisition programme that will give them a head start in launching their business in South Korea while access to administrative support, translation and interpretation will also be made available. The start-ups that successfully get into the programme will be given a chance to network with famous world-class accelerators, test their solutions in the market and use this opportunity to launch their business into neighbouring markets -- China, Hong Kong, Japan and Taiwan.
The programme will culminate on a Demo Day in December, where they will get a chance to present their ideas to the country's most important investors, business angels and venture capitalists.
Only 20 teams will be picked to take part in a settlement programme and obtain additional prizes. The winner of the challenge will be awarded a US$100,000 (3.1 million baht) grant in addition to receiving funding and living expenses.
Hailed as Asia's best start-up incubation programme launched in 2016, the KSGC is a South Korean government-backed project jointly organised by its Ministry of SMEs and Startups and its National IT Industry Promotion Agency to promote the expansion of an open entrepreneurship ecosystem in Asia.
Applications should be made by June 14. Visit http://kicc.sg/kstartupgc-2019.
