Recruitment of International Startups: '2024 K-Startup Grand Challenge'

For more information, visit www.k-startupgc.org

MYSC, a leading impact investing startup accelerator headquartered in Seoul, has recently been selected as a partner accelerator for the ‘2024 K-Startup Grand Challenge.’ The program, sponsored by the Korean government, is the largest inbound startup acceleration initiative in Korea, aimed at helping international startups with their initial market entry.

If you know any promising international startups interested in expanding to South Korea, please promote our program and have them apply by 2024/6/7(Friday).

The program offers 40 startup teams and pre-entrepreneurs a 3.5-month residency in Korea, providing benefits such as expert guidance, co-working spaces, Korean intern support, partnerships with major Korean tech companies, access to Asian markets, investment opportunities, and more.

Additionally, each of the 40 startups will receive ₩12,250,000 per team to cover living expenses for 3.5 months. At the end of the program, the top 20 startups will receive an extra ₩12,250,000 per team for a follow-up program in 2025. The top ten startups will also receive prizes worth $400,000, with $150,000 awarded to the first-place winner.

You may also directly recommend me promising startups in advance.

Benefits for Selected Teams

Acceleration Program: Korean accelerators will provide catered support to participants, such as B2B meetings and networking opportunities with potential partners and clients.

Help Desk: Administrative support shall be provided for the incorporation, visa acquisition, etc.

Office Space: Selected teams will be provided with office space and access to resources in need at the Pangyo Startup Campus.

Korean Interns Support: One local intern assistant will be assigned for every two startups.

Financial Support:
Phase-1, 2 Participation Subsidies: Monthly grant will be given to support startups' business activities in Korea
Phase-1: KRW 3,500K * 3.5 mths (40 teams)
Phase - 2: KRW 3,500K * 3mths + 12,000K Fund for Commercialization (Top 20 teams)
Demo Day Prize Money: Up to KRW 200,000K funding for the top 5 companies

Eligibility

Non-Korean tech- and/or service-based (pre-) startups operated by representatives with foreign nationalities who wish to settle down in the Korean market

* Pre-startups or startups with 7 years or less of experience (A startup with 10 years or less of experience is also eligible according to Article 25 of “Support for Small and Medium Enterprise Establishment Act,“ if it is a new industry business startup publicly notified by the Minister of SMEs and Startups)

** Startups established no earlier than 25.4,2017—in case a startup is a new industry business startup, no earlier than 25.4.2014—are eligible for the application.