60 Participants Enrolled This Year, Competition Rate at 10.3 to 1
Up to 150 Million KRW in Commercialization Funds Provided
Comprehensive Support for All Stages of Global Market Entry
The Small and Medium Business Corporation's Global Startup Academy announced on the 4th that it held an orientation for 60 participants of the 6th class of the Global Startup Academy.
This year, the competition rate for the Global Startup Academy was the second highest ever at 10.3 to 1. The final selected entrants consist of startup CEOs under 7 years old in deep-tech based fields such as artificial intelligence (AI) healthcare, autonomous drone flight, robot mechatronics, quantum computing, fintech, and microbial fertilizers.
Exterior view of the headquarters of the Small and Medium Business Corporation. Small and Medium Business Corporation
The Global Startup Academy provides comprehensive support for all stages of global market entry for excellent startups possessing innovative technologies and global startup items.
It offers a 5G program necessary for startups wishing to enter the global market, including startup commercialization support funds of up to 150 million KRW within 70% of the total project cost, office space, capability diagnosis, mentoring, investment attraction capability enhancement, preparation for overseas expansion, specialized programs from local accelerators, and linkage support with policy projects.
This year, as a strategic customized program to establish a global expansion foundation for entrants, new initiatives such as ▲ close mentoring in the EiR method ▲ global open innovation ▲ exchange programs with overseas startup incubation institutions ▲ AI specialized programs will be promoted.
Now in its 6th year, the Small and Medium Business Corporation’s Global Startup Academy has produced 297 outstanding young entrepreneurs to date. Graduates have driven the leap of startups into global unicorn companies by achieving sales of 165.2 billion KRW, new investment attraction of 52.2 billion KRW, and export performance of 11.57 million USD (approximately 16.8 billion KRW) over the past five years.
Jo Han-gyo, Director of Human Resource Growth at the Small and Medium Business Corporation, said, "We will focus all of the Corporation’s capabilities to help companies in the fields of super-gap, new industries, and climate technology quickly establish themselves on the global stage."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
