The K-Startup Grand Challenge 2019 can be that fantastic global platform your startup needs by helping you break into the robust Asian market. Here are just 10 of the many compelling reasons why you must consider applying:
1. Korea can be your gateway to Asia
South Korea is conveniently located in East Asia, between China and Japan, with Hong Kong and Taiwan to the south. Affording you access to over a billion customers, it is a great location for startups looking to expand across Asia.
2. Korea’s tech game is on point
South Korea has an edge when it comes to high-tech. It is a leading manufacturer in cutting edge electronics and also one of the biggest consumers of these digital products. It also has the fastest average internet connection in the world. Also, South Korea's highly advanced technology infrastructure allows for quick consumer consumption of new services.
3. You have access to state-of-the-art R&D labs
The challenge will give you access to world-class prototyping, testing facilities and expert support. The Pangyo Techno Valley is an innovation hub where SMEs and startups can participate in mutual exchange of information with technology research institutes and large, global companies.
4. There’s a grant of USD 100,000 for the winner
There is a grant of USD 100,000 (113,000,000 KRW) for the winner, with USD 40,000 (45,200,000 KRW), USD 20,000 (22,600,000 KRW) and USD 6,000 (6,780,000 KRW) for the first, second and third runners up – paid in Korean Won
5. Top 40 startups get grants of US $10,840
The top 40 startups selected will each be eligible for a total funding of US $10,840 for settlement in Korea based on performances on the 'Demo Day' and Settlement Evaluation.
6. Startup Gangnam-style
The Global Startup Campus is strategically located just 14 minutes from Gangnam – Seoul’s thriving, upscale business district, and is a fantastic plug-and-play location to work from.
7. You get mentorship from some of the world’s leading tech experts
The challenge will give you the chance to be mentored by some of the world’s top tech companies with experience in providing a global platform for startups and SMBs.
8. You have Korea’s top corporates as partners
From Samsung to Hyundai to LG, the challenge will give you access to Korea’s top firms with expertise ranging from smartphones and software to semiconductors.
9. Living expenses for the demo day and settlement programme is also covered
Each of the final 20 selected startups in the program will receive a further US $10,840 to cover living expenses in equal installments over 3.5 months
10. There’s potential for additional investment
Startups will have access to VCs and investors who may choose to invest in them. The programme’s accelerators may make also make equity investments in the most promising startups.