2017 K-startup Grand Challenge Kick-starts Its Second Innings in India

India – 11th May, 2017: NIPA’s (National IT Industry Promotion Agency) initiative K–Startup Grand Challenge – A project conducted and financed by the Government of the Republic of Korea is all set to open its gates once again in India. The global startup event offers technology based startups that have a prototype or product service – catering to various industries, a chance to enter the Korean market and further expand its reach to global customers.

2017 K-startup Grand Challenge Kick-starts Its Second Innings in India

2016 K-Startup Grand Challenge offered the winners a host of benefits including grants, free office space and entry into an acceleration programme and more. 13 local corporations and branches were established as a result of the event. Over and above, 33 deals were signed with local/overseas companies along with 125 MoU/Partnership activities. An Indian entrant in the augmented reality space came in runner-up at the event and is now engaged in a contract with one of Korea’s major departmental store franchises.

In this year’s programme, the top ranked 50 teams will be invited to participate in a four-month accelerating program in the state-of-the-art Pangyo Techno Valley, located south of Seoul. Additional financial incentives from the Korean Government will be offered to the top 25 startups if they choose to establish a business entity in Korea.

“The key focus of the K-Startup Grand Challenge this year is to promote collaboration and exchange of ideas between India and Korea. A plethora of exciting opportunities await participants who will get an opportunity to showcase their entrepreneurial spirit. We are eagerly looking forward to tap the enormous potential that lies in Indian startup ecosystem and expecting to receive a large number of applications from India,” said Lee Kyung-hwan, Executive Director of India-Korea SW Cooperation Center.

The team at NIPA will be visiting cities across the country, including Mumbai, Bangalore Delhi, Pune, Hyderabad and Kochi. They will meet with prominent entities in the local startup ecosystems, including incubation centers, accelerator hubs and more. The interactions aim to channel the enthusiasm and vision of the local startup environment towards the event, offering them a great opportunity to graduate to the world stage.

For more details, you can visit the event website – http://in.k-startupgc.org.

About NIPA
NIPA, National IT Industry Promotion Agency is a non-profit governmental organization of the Republic of Korea. NIPA has been at the forefront of achieving national development and economic vitalization through the ICT industry and is now paving the way for startups and overseas market entry. NIPA supports the establishment of global ICT companies by building relevant infrastructure to enhance capacity of domestic startups and creating an ecosystem that supports ICT companies’ ongoing challenge to enter the global market. In addition, NIPA provides active support to ICT companies so that they can write their own success stories by strengthening their global outposts and successfully entering the global market based on creative ideas.

Most Popular

More from Author

Read Now

Union Budget 2023-24: What It Means for the Future of the Automotive Sector?

Union Budget 2023-24: A Post-Budget Perspective on the Indian Automotive Sector.

Business Leaders Give Thumbs Up to Union Budget 2023’s Growth-Focused Provisions

Understand the impact of the Union Budget 2023-24 on the Indian economy through the eyes of business leaders and why they are optimistic about its potential.

SBICAPS opens new office in Bengaluru, to focus on infrastructure, defence and start-ups

BENGALURU, India | 1st February 2023: SBI Capital Markets Limited (SBICAPS), a wholly owned subsidiary and investment banking arm of State Bank of India (SBI) on Monday announced the opening of its office in Bengaluru. Inaugurated by Shri Dinesh Khara, Chairman, SBI, in the presence of Shri Swaminathan J, Managing Director (CB...

Vedanta Aluminium Raises USD 250 Mn in Sustainability Linked Loans

New Delhi, Delhi, India | 1st February 2023: Vedanta Aluminium, India’s largest producer of aluminium, has raised USD 250 million through Sustainability Linked Loans (SLL) from leading international banks, for financing its capex initiatives and reducing carbon footprint. The loans were granted on the basis of specific performance parameters...

Dr. Stephen Kahane Joins Suki’s Board of Directors to Elevate Voice AI in Healthcare

Voice AI Technology for Healthcare Gets a Boost with Dr. Kahane on Suki's Board.

TrekNomads Foundation and Suriya Foundation Distributed Free Blankets across Bengaluru in Collaboration with Bruhat Bengaluru Mahanagara Palike

Bengaluru, Karnataka, India | 1st February 2023: TrekNomads Foundation and the Suriya Foundation distributed over 400 blankets to the needy across Bengaluru. Flag off event was held at the BBMP head office on January 30, 2023. BBMP Chief Commissioner Sri Tushar Giri Nath, IAS, handed over few blankets to the...

Union Budget 2023-24: Post-Budget Reaction Quotes – Indian Entrepreneurs Share Their Thoughts

As the Indian government announces its 2023-24 budget, industry leaders and experts have been weighing in on the impact it will have on the Indian economy. This post will bring you the most prominent post-budget reaction quotes from these key figures, giving us a deeper understanding of...

FUJIFILM India Unveils New Compact Ultrasonic Probe System at BRONCHUS 2023

FUJIFILM India expands endoscopy solutions portfolio with new compact ultrasonic probe system at BRONCHUS 2023.