- Source: K-Startup Grand Challenge
K-Startup Grand Challenge is a startup accelerator program supported by the Government of South Korea. The program was launched in 2016 by the National IT Industry Promotion Agency (NIPA) and funded by the Ministry of SMEs and Startups of South Korea. The program is based in the Pangyo Techno Valley, known as the Korean version of the Silicon Valley.
As part of the government's policy, South Korea has initiated a wide range of support programs for startups and has been investing nearly $2 billion annually into the Korean start-up ecosystem since 2013. Within the scope of these efforts, the government organized the K-Startup Grand Challenge program to invite foreign start-ups to come to Korea and cooperate with local VCs and companies. Inviting start-ups from overseas is also aimed at assisting Korea's evolution into a prominent startup business hub.
Program Contents
The process is composed of the following contents:
Worldwide application usually runs for several months. Invited judges will review applications choose teams for auditions.
global auditions (Online) to select teams for interview and in-depth review by invited judges.
final selection of 60 teams for participation in the accelerating program.
Demo Day will be held in Nov. 19 – 21st. Top 30 teams will be selected on the day based on their accelerating program activities and presentations. There will be also top 5 teams' selection. Additional grant will be given to those top 30 and 5 teams in order to do business in Korea.
K-Startup Grand Challenge Programs by Years
= K-Startup Grand Challenge 2016
=2,439 teams from 124 countries applied to the KSGC 2016 program. After judges reviewed documents and auditioned the applicants, 40 startups were selected for an accelerating program. On Demo day, only half of these teams was selected. Those 20 teams were given addition fund from the government afterward.
= K-Startup Grand Challenge 2017
=The KSGC 2017 program was expanded to 49 teams. Those of 1,515 applicants invited to Korea. The program provided the following financial support:
round trip flight tickets for two team members.
₩14,000,000 to cover the living expenses during four months from August to November.
Demo Day grants of ₩120,000,000 (1st place), ₩48,000,000 (2nd place), ₩24,000,000 (3rd place) and ₩7,200,000 (4th place).
A total of ₩32,000,000 settlement support for each of the Top 25 teams from January to June.
= K-Startup Grand Challenge 2018
=The program was expanded again. 1,771 teams applied to the program and 73 candidate teams were invited to Korea. After several months of the accelerating program, 40 teams were chosen on Demo day. The Korean Government supported those teams afterward.
= K-Startup Grand Challenge 2019
=1,677 teams from 95 countries applied to the KSGC 2019 program. Invited judges reviewed all applications and chose 240 teams. Judges had auditions with 240 teams to choose teams for the accelerating program. The result of that was 38 candidate teams selected from auditions. After 38 chosen teams done with the accelerating program, 20 teams were selected on Demo day based on their accelerating program activities. The Korean Government offered aids to 20 teams afterward.
= K-Startup Grand Challenge 2020
=The application period for the 2020 program is may 15 - June 25. The Demo day was presented live in conjunction with Comeup 2020 between 17–19 November 2020.
= K-Startup Grand Challenge 2021
=2,568 teams from 127 countries applied to the KSGC 2021 program. The global announcement period for the 2021 program took place between Jul 5 - Jul 9 where 58 startup teams were selected to participate.
= K-Startup Grand Challenge 2024
=The application period for the 2024 program is from April 30 to June 7, 2024.
In January 31, 2024 The Ministry of SMEs and Startups (MSS) announced that it will recruit teams to participate in the "Challenge! K-Startup 2024"
Participating startups
= K-Startup Grand Challenge 2016
== K-Startup Grand Challenge 2017
=AID:Tech, Ireland
Aerostate, USA
Agorize Asia, France
Altagram GmbH, Germany
Bear Robotics Inc]., USA
Bildeco, Indonesia
BlockSchool, USA
Briefy, Germany
Box24, Thailand
andcards, South Korea — coworking space automation software.
COOLFARM, Portugal
Crowdz, USA
Dinlr, Singapore (Food Tech, Restaurant Tech) — Dinlr helps F&B businesses to better manage and operate their business using front-of-house solutions designed for F&B industry.
Dream Agility, England - UK's leading ad tech firm which specialises in Machine Learning and Artificial Intelligence to deliver excellent PPC advertising performance.
E Cycle, Hong Kong
Electroni Nose Co., Thailand
Futurehome AS, Norway
Jarvis Store, Indonesia
Jugnoo, India
Happy Skin Vietnam, Vietnam
Hatchme Pte Ltd, Singapore
Hauzd, Panama
HeySuccess Limited, England
igloohome, Singapore
Is it fresh, Germany
Kaitek Labs, Chile
Loka Travel Sdn Bhd, Malaysia
Marine Nexus Pte Ltd, Singapore
Mishipay Ltd., England
Mycroft AI, USA
Nanoclean Global Pvt, India
Overnest, USA
OWLR Technologies Ltd., England
Photomyne LTD., Israel
Polywed, Russia (Healthcare IT) — data-driven technology that increases in vitro fertilization (IVF) success rates.
Preply Inc., USA
Printify Inc., USA
Rezi, USA
Shift Technology, France
Slasify, Singapore
SmartPeep, Malaysia
Softinn Solutions, Malaysia
Toolyt, India
TotalCross, Brazil
Transformify, England
UAV-IQ, USA
Warrantyzen, Malaysia
Waldania Automation, Malaysia
Whitney Technology, USA
Womi Technology Co., Vietnam
ZhenHub, Hong Kong
= K-Startup Grand Challenge 2018
=First prize: NODIS, Singapore
Second prize: Tespack, Finland
Third prize: XtayPro, Vietnam
Fourth prize: Lineus Medical, United States
Advantir Innovations, Singapore
Ami, Vietnam
AAAccell, Switzerland
OneCharge, Hongkong
Ohnana Tents, Netherlands
Rely, Singapore
Nexrea, USA
Nitium Technology, Malaysia
Festivality, Estonia
Bakuun.com, United Kingdom
DRVR, Thailand
= K-Startup Grand Challenge 2019
=IGL Coatings, Malaysia
Kodimo, Vietnam
Holistics Lab, Malaysia
360F, Singapore
Anzene, Singapore
7 Till 8
Backyard Brains, Chile
Callista, Indonesia
DETA
Clotify
Eyeware
FutureLab, Malaysia
GIBLIB, USA
BMPower, Russia
Incubig, India
Summarizebot, Latvia
MicroX Labs, India
TokTok, France
Inspire Me Korea
Stepinshop
Red Dino, Malaysia
TPS Engage, Romania
TuBudd
Aibrid, India
Xenon Automotive, India
Inspire me Korea
= K-Startup Grand Challenge 2020
=Filmplace, Singapore
SAMYROAD, Spain
Heart Force AG, Switzerland
Outside Technologies, Singapore
Vouch SG Pte Ltd, Singapore
= K-Startup Grand Challenge 2021
=First prize: Khenda, Turkey
Second prize: XQuant, South Korea
Third prize: Scanderm, Russia
Fourth prize: NDR Medical Technology, Singapore
Fifth prize: Fast Pong, South Korea
Sixth prize: Glowsome Beauty, South Korea
Seventh prize: Fitscovery, United States
Eighth prize: Synthillate, Philippines
Ninth prize: Altum, United States
Tenth prize: XP Corp (formerly known as XP Fantasy), Canada
Founder's Lair, China
Sendjoy, Singapore
Vimage, Hungary
Renaissance, Canada
Hallo, United States
Crmble, Spain
References
External links
Official website