There have been over 7,400 applications globally from over 150 countries, and Filmplace has been selected as one of the top 60 teams in this challenge.
What is this about?
The K-Startup Grand Challenge (KSGC) is part of the Korean government’s effort to transform and promote South Korea as the global leading startup business hub in Asia. It is an inbound program designed to attract promising foreign startups to Korea within the “Global Accelerating Activation Program” under the Ministry of SMEs and Startups of the Republic of Korea.
Benefits of KSGC
The KSGC offers an all-expense paid acceleration programme to technology-based startups that has a product/service, and have been established within the past 7 years. As Filmplace has been selected as the top 60 international teams to be qualified, our Founder/CEO Lincoln Lin will be heading to Korea to participate in a 3 month accelerating program in Pangyo, Seongnam.
Being a part of the top 60 teams, Filmplace would be exposed to interacting with Korea’s largest tech companies, namely Samsung, Hyundai Motors and KT Corporation through conferences, seminars and workshops. There would also be 1 on 1 mentorship provided, regular networking sessions and events organised throughout the program to further promote international cooperation between startups like us, local successful entrepreneurs and large companies. This program will definitely equip us with the necessary skills, connections and exposure to help us to grow our business to the next success level.
Final stage of KSGC
At the end of the acceleration program, the government will host a “Demo Day” to select the top 30 startups. These startups will get additional financial incentives for another 3.5 months, and the top 5 startups will receive grants of up to USD$120,000. Furthermore, if they choose to establish their businesses in Korea, they will get additional support from the government as well.
Wishing the best of luck to our Filmplace team and our CEO in the KSGC program!