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South Korea’s NIPA to support Hyd startups
The National IT Industry Promoting Agency (NIPA) of South Korea’s Ministry of ICT and Future Planning has invited applications from startups in the city for its K-Startup Grand Challenge as a part of its efforts to encourage new and early-stage ventures around the world.
Invites applications for K-Startup Grand Challenge
Hyderabad: The National IT Industry Promoting Agency (NIPA) of South Korea’s Ministry of ICT and Future Planning has invited applications from startups in the city for its K-Startup Grand Challenge as a part of its efforts to encourage new and early-stage ventures around the world.
“We have visited T-Hub incubation centre in the city today and held discussions with its management. The centre has excellent infrastructure and ecosystem for startups.
Our objective is to encourage promising startups through the K-Startup Grand Challenge and we are expecting a good number of startups from the city to take part in it,” Caleb Kyung Hwan Lee, Executive Director, Korea-India SW Co-operation Centre, NIPA, told The Hans India.
Startups from around the world are eligible to take part in the K-Startup Grand Challenge. Top 80 startups selected from applicants will be taken to South Korea for one-week long intensive pitching, networking and meeting with accelerators.
Organisers will select 40 startups from the top 80 and put them through a three-month acceleration programme before choosing final 20 startups which will get mentoring and funding opportunities.
The week-long pitching and subsequent acceleration programme will be held at Startup Campus in Pangyo Techno Valley, a 14-minute drive from GangNam city in South Korea.
The challenge programme will broadly focus on startups in 17 sectors including financial technologies, internet of things (IoT), cloud, wearables, big data, automobiles, urban solutions, biotech, etc.
“So far, we have received 800 registrations from around the world and they include 100 applications from India. We expect the numbers to go up by the time we close registrations on June 14,” Lee maintained.
By P Madhusudhan Reddy
