K-Starup Grand Challenge | Fusion - WeRIndia

K-Starup Grand Challenge

K-Starup Grand Challenge

Accelerator programmes help startups grow further and obtain funding. K-Startup Grand Challenge is one among them. It is a global accelerator programme.

It intends to promote collaboration among startups from South Korea and across the world. This challenge also helps exchange ideas among startups.

In the 2019 K-Startup Grand Challenge, 1,677 startups from 95 countries had participated. Out of them, 38 startups were selected to join in the 3.5 month-long acceleration programme. All these startups received primary funding and office space.

Then, the top 20 teams were selected at Demo Day to be given additional funding for 3.5 months.

Now, the K-Startup Grand Challenge 2020 has started. Startups that need assistance and funding opportunities can compete in this challenge. However, startups should not be more than seven years old to participate. At least one member of the team should have a Bachelor’s degree or higher.

There are many benefits for the participants. They will get access to advanced Korean R&D labs. Each of the 65 startup participants will receive $10,840 for their living expenses during the period of 3.5 months from August to November 2020.

They will get mentorship from experts. They can also partner with corporates. Top five winners will be awarded prize money of $240,000. They will have a chance to get more investment.

Startups can register and send their application June 24, 2020, to contest in this challenge.

Top 30 participants will be selected to receive $10,840 as funding for a period of 3.5 months from January to April 2021.

Their applications will be reviewed from June 29 to July 2, 2020. Then global auditions will take place from July 9 to July 15, 2020.

The accelerator programme will start from September to November 2020. Demo Day and settlement programme will be on November 19-21, 2020.

Interested startups can visit their website.

Image by StartupStockPhotos from Pixabay (Free for commercial use)

Image Reference: https://pixabay.com/photos/startup-meeting-brainstorming-594090/

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