K-STARTUP GRAND CHALLENGE 2023

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What is KSGC?

K-Startup Grand Challenge(KSGC) is an inbound program to attract, incorporate, and expand promising foreign startups into Korea,
supported by the Ministry of SMEs and Startups of the Republic of Korea

Objectives The Korean government plans to recruit promising entrepreneurs and startups into Pangyo Techno Valley, in hopes of building a global startup hub in Asia and transforming the economy successfully to promote employment, increase GDP, and raise Korea’s global status.
Qualification Startups that are less than 7 years old or pre-entrepreneur whose representative holds a foreign nationality.

Target Sector

The following fields are preferred areas. However, the KSGC program is not restricted to these fields only. Other business sectors are applicable.

Manufacturing
&
Device
IT
&
Software
eCommerce
&
Retail
ESG
&
Green Tech
Healthcare
&
Bio
Mobility
&
Robotics
Metaverse
&
Contents
Food Tech
&
AG Tech

Benefits

The top 60 teams will be invited to conduct business in Korea and participate in a 3.5-month acceleration program with selected accelerators in Pangyo.
A Demo Day will be hosted at the end of the acceleration program to select top 20 startups. These startups will get additional financial incentives,
and if they choose to establish their businesses in Korea, additional support will be given from the government.

Accelerating Program

1-on-1 mentors
coaching for the Korean language and Asian business culture, consulting on patents, accounting, tax laws etc.
access to networking sessions with Korean startups and large companies
Living Expenses

Each of the 60 startups in the program will receive money to cover the living expenses over 3.5 months.
$10,840 (₩12,250,000) per team
Help Desk & Visas

The participating teams will benefit from the KSGC program as Korean government will permit to ease Visa regulations for the teams. Support for housing and administrative work will be provided as well.

Living Expenses

Each of the 60 startups in the program will receive money to cover the living expenses over 3.5 months.
$10,840 (₩12,250,000) per team
Help Desk & Visas

The participating teams will benefit from the KSGC program as Korean government will permit to ease Visa regulations for the teams. Support for housing and administrative work will be provided as well.
Free Office and Project Space

Selected teams will be provided with a project space including equipment for product / service production and development, testbeds, as well as an incubating infrastructure at the Startup Campus in Pangyo Techno Valley.

Help Desk & Visas

The participating teams will benefit from the KSGC program as Korean government will permit to ease Visa regulations for the teams. Support for housing and administrative work will be provided as well.
Free Office and Project Space

Selected teams will be provided with a project space including equipment for product / service production and development, testbeds, as well as an incubating infrastructure at the Startup Campus in Pangyo Techno Valley.
Korean Internship

Provide Korean interns to assist your business in Korea for 3.5 months. (1 intern per 2 teams)

Free Office and Project Space

Selected teams will be provided with a project space including equipment for product / service production and development, testbeds, as well as an incubating infrastructure at the Startup Campus in Pangyo Techno Valley.
Korean Internship

Provide Korean interns to assist your business in Korea for 3.5 months. (1 intern per 2 teams)
Demoday Top5 Grant & Top20 Benefit

Grant for Top 5 Startups
1st Prize : $120,000 (₩144,000,000)
2nd Prize : $70,000 (₩84,000,000)
3rd Prize : $40,000 (₩48,000,000)
4th Prize : $25,000 (₩30,000,000)
5th Prize : $15,000 (₩18,000,000)

Korean Internship

Provide Korean interns to assist your business in Korea for 3.5 months. (1 intern per 2 teams)
Demoday Top5 Grant & Top20 Benefit

Grant for Top 5 Startups
1st Prize : $120,000 (₩144,000,000)
2nd Prize : $70,000 (₩84,000,000)
3rd Prize : $40,000 (₩48,000,000)
4th Prize : $25,000 (₩30,000,000)
5th Prize : $15,000 (₩18,000,000)
Accelerating Program

1-on-1 mentors
coaching for the Korean language and Asian business culture, consulting on patents, accounting, tax laws etc. access to networking sessions with Korean startups and large companies

Demoday Top10 Grant & Top20 Benefit

Grant for Top 5 Startups
1st Prize : $120,000 (₩144,000,000)
2nd Prize : $70,000 (₩84,000,000)
3rd Prize : $40,000 (₩48,000,000)
4th Prize : $25,000 (₩30,000,000)
5th Prize : $15,000 (₩18,000,000)
Accelerating Program

1-on-1 mentors
coaching for the Korean language and Asian business culture, consulting on patents, accounting, tax laws etc.

access to networking sessions with Korean startups and large companies
Living Expenses

Each of the 60 startups in the program will receive money to cover the living expenses over 3.5 months.

$10,840 (₩12,250,000) per team

Schedule

10th April ~ 18th May - Promotion & Application Period
19th May ~ 26th May - Application Review
30th May ~ 2nd June - Global Audition
15th June - Final Result Announcement
25th July ~ 10th November - Acceleration Program
31th October ~ 2nd November - Demoday
Follow up Support Program

Alumni

Since 2016, a total of 360 teams from 168 countries have participated, and 164 Korean subsidiaries have been established
KSGC participated teams are mostly related to ICT such as AI, software, device, B2B solutions, and other fields.
The following companies successfully expanded their business and settled fully in Korea.