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Korean govt starts accelerator for foreign startups
2016-05-13 09:29:00| Telecompaper Headlines
(Telecompaper) The Korean government has created an accelerator for startups from around the world, in a bid to diversify the country's tech industry, TechCrunch reported. Called the K-Startup Grand Challenge, the programme is being organised by South Korea's Ministry of Science, ICT and Future Planning (MSIP), in partnership with Seoul-based accelerators SparkLabs, DEV Korea, ActnerLab, and Shift. It will accept applications through 14 June. Forty startups will be selected to participate in the three-month long programme, which begins in September and includes mentoring from 15 leading Korean tech companies, including Samsung Electronics, LG Electronics, Kakao, and Naver. A demo day will take place in December, after which twenty startups will receive USD 33,000 in funding from the government, with the top four getting an additional USD 6,000-100,000.
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