K-Startup Grand Challenge

If you’re interested in establishing in the Asian market, consider applying to this startup accelerator in Seoul, Korea. You can win up to $145,000 USD in equity-free funding over the course of a 3-month accelerator and 6-month settlement program to help your company set up a base in South Korea.

Registration for the last batch has closed. Follow Lootstrap on Facebook for updates!

Award Amount

  • $12,500 USD for acceleration program (to cover living expenses)
  • $33,000 USD for settlement program
  • Additional prizes awarded:
    • Up to $100,000 USD top prize
    • Up to $40,000 USD second prize
    • Up to $20,000 USD third prize
    • Up to $6,000 USD fourth prize

Location

  • Seoul, South Korea

Length

  • 3-month intensive acceleration program (40 teams accepted)
  • 6-month settlement program (20 teams accepted)

Additional Benefits

  • Free coworking space in Startup Campus, Pangyo Techno Valley
  • Access to equipment, test beds, and incubating infrastructure
  • Seminars, workshops, conferences teach you what you need to know to expand in Asia
  • Networking events give you access to investors
  • One-on-one mentoring from local and foreign experts
  • Close contact with large Korean companies such as LG, Hyundai, and Samsung
  • Opportunity to work alongside other international startup companies
  • South Korean working visas provided by the government
  • Administrative, translation/interpretation, and medical support for foreign teams
  • Assistance with accommodations and roundtrip plane tickets to South Korea
    • For one team member each for the 80 teams selected to pitch
    • For three team members each for 40 teams selected for acceleration program

Who Can Apply

  • Early and growing-stage startups
  • Desire to relocate to South Korea and expand into the Asian market

Selection Criteria

  • Disruptive innovation in a variety of sectors, including but not limited to:
    • Game/fintech, the IoT, software, smart devices, cloud, 5G and big data sectors

Application Process

  • Written application
  • 160 teams selected for auditions and remote interviews
  • 80 teams invited to South Korea for week-long pitching session
  • 40 teams selected for 3-month Acceleration Program
  • 20 teams chosen on Demo day for 6-month Settlement Program

Post-Program Perks

  • Potential to receive further investment against equity

Website

As always, this program takes ZERO equity!