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Associated Press
03-07-2025
- Business
- Associated Press
Record 2,626 Global Startups Apply to K-Startup Grand Challenge 2025 - Korea's Global Startup Program Achieves 32.8:1 Competition Ratio
SEOUL, KR / ACCESS Newswire / July 3, 2025 / The K-Startup Grand Challenge 2025 (KSGC 2025), South Korea's flagship global startup acceleration program, has closed its application period with a record 2,626 submissions, marking a 1.5-fold increase over last year. The Ministry of SMEs and Startups (MSS) confirmed the final count and announced that, based on 80 finalist slots, the program has recorded a competition rate of 32.8 to 1-underscoring its growing appeal as a launchpad for startups targeting the Asian market.K-Startup Grand Challenge 2025 K-Startup Grand Challenge 2025 Celebrating its 10th anniversary this year, the KSGC is hosted by MSS, organized by the Korea Institute of Startup & Entrepreneurship Development (KISED), and operated by the Gyeonggi Center for Creative Economy & Innovation (GCCEI). Since its inception in 2016, the program has supported more than 1,000 global startups through equity-free financial assistance, incorporation support, and curated business matching with Korea's leading conglomerates. This year's applicant pool spans Asia (42.7%), Africa (31.1%), the Americas (10.7%), and Europe (8.2%), reflecting the program's expanding international footprint. Sector-wise, leading areas of interest include IT and software (29.6%), food and agriculture (12.5%), and healthcare and bio (11.4%). A significant portion of applicants-61.5% have secured prior investment and 70.6% already generate revenue-indicating strong market readiness and traction among participants. The 2025 program will follow a three-phase structure. The Exploration Phase will run remotely from July 21 to August 8 for 80 selected teams, focusing on market validation and mentoring. Forty teams will move on to the Entry Phase in Korea from September 4 to December 12, which includes an orientation on September 2 and participation in the APEC SME Ministerial Meeting on September 3. The program will culminate with participation in COMEUP 2025 from December 10 to 12. The final 20 teams will progress to the Scale-up Phase from January to April 2026, focusing on investor engagement, PoC development, and strategic partnerships, with a final evaluation scheduled for April. Selected teams will receive comprehensive support, including visa sponsorship, incorporation assistance, and office space in Pangyo and Gangnam. Total non-dilutive financial assistance will reach ₩950 million (approx. $633,000), including various grants such as travel grants and commercialization funding, in addition to equity-free prize awards. Top winners at the COMEUP 2025 Demo Day may receive up to ₩100 million (approx. $67,000) in additional prize funding. 'Receiving over 2,600 applications shows how far this program has come, and we are truly grateful to every founder who applied,' said Paul Kwon, Global Business Team Lead at GCCEI. 'As we mark the 10th anniversary of KSGC, we remain committed to helping global founders scale their operations, form lasting partnerships, and make Korea their strategic base for long-term growth across Asia.' Contact Information KSGC Admin SOURCE: K-Startup Grand Challenge press release
Yahoo
21-05-2025
- Business
- Yahoo
South Korea Opens Applications for the 10th K-Startup Grand Challenge 2025 - Korea's Flagship Global Inbound Program
SEOUL, KR / / May 20, 2025 / The Ministry of SMEs and Startups (MSS) has officially opened applications to international startups for the K-Startup Grand Challenge (KSGC) 2025, Korea's Flagship Global Inbound Program designed to help international startups expand into Korea and scale across Asia. Now in its 10th year, KSGC is hosted by the Ministry of SMEs and Startups (MSS), organized by the Korea Institute of Startup & Entrepreneurship Development (KISED), and operated by the Gyeonggi Center for Creative Economy & Innovation (GCCEI). The 2025 edition offers a combined pool of up to ₩950 million (US$633K) in total government support. This includes equity-free prize money for top teams, travel and living stipends for selected participants, and commercialization grants for the best-performing startups. The program has been redesigned as a more flexible, founder-first platform - offering support for incorporation, corporate partnerships, PoC (Proof of Concept) pilots, and investment access - to help promising global startups successfully enter Korea and achieve sustainable growth. Founder-First Support: A Flexible, Phased Gateway to Korea In 2025, KSGC introduces a hybrid format that allows participants to start the program remotely while continuing operations in their home countries. The program runs from July 2025 to April 2026 across three phases: Market Exploration (3 weeks online), Market Entry (3 months remote-enabled on-site), and Market Growth (3 months remote-enabled on-site), with the number of teams narrowing from 80 to 40 and finally to 20 through each phase. Global Exposure: From APEC Policymakers to the COMEUP 2025 Stage KSGC 2025 offers unparalleled exposure to Korea's top institutions and global stakeholders. During Phase 2, a select group of teams will have a unique opportunity to pitch at the 2025 APEC Small and Medium Enterprises Ministerial Meeting, a high-level policy event bringing together SME ministers and innovation leaders from across the Asia-Pacific region. Participants will also showcase their startups at the official KSGC Demo Day, held during COMEUP 2025 - South Korea's premier startup and tech conference. They will compete for a ₩380 million (US$253K) prize pool, with awards presented to the top 20 teams. PoC and Strategic Partnerships With Korea's Industry Leaders The program offers direct access to over 20 of Korea's leading conglomerates, enabling high-impact PoC projects and strategic partnerships. These opportunities are supported by GCCEI, a key organizer and part of Korea's 19-center national CCEI network. Each center is aligned with a major corporate partner, providing localized support and open innovation channels to help startups engage with industry leaders more effectively. To help selected teams fully capitalize on these connections, KSGC offers full support - including visa sponsorship, assistance with business incorporation, free office space, curated business matchmaking, and follow-on scale-up grants of up to ₩50 million (US$33K) for top-performing teams. In addition, top startups will gain access to investment opportunities with industry-leading VCs and the GCCEI, facilitated through exclusive KSGC private IR sessions designed to connect founders with Korea's most active investors. Applications Now Open: Apply by June 13, 2025, to Shape the Future in Korea KSGC is open to startups founded and currently led by non-Korean nationals. International students residing in Korea are also welcome to apply. "KSGC 2025 reflects Korea's commitment to being more than a launchpad - it's a true partner in global growth," said Jonghwi Lee, Global Division Director at GCCEI. "This program is designed to provide what global founders need most: strategic flexibility, substantial non-dilutive funding, and direct access to Korea's key industries." Applications are open until June 13, 2025 (15:00 KST). Your challenge to venture into Korea - Scale fast, start in Korea, start with details and to apply, visit or contact apply@ Contact Information KSGC Admin apply@ SOURCE: K-Startup Grand Challenge View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
