One Korean Team to Travel to Israel for Start Tel Aviv

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The Asan Nanum Foundation has joined hands with Israel to help lead Korea’s top young entrepreneurs. The foundation recently formed an MOU with the Israeli government and decided to launch “Start Tel Aviv”, an international startup competition.

Start Tel Aviv 2013 is a government sponsored program which is attended by 13 countries including Korea, Germany, the UK and China. Selected entrepreneurs from each country will have the chance to pitch their companies to overseas investors in the “venture city” of Tel Aviv. There will also be the opportunity for startups to exchange information with global companies, with visiting fees paid for by the Israeli government.

Applications by entrepreneurs in Korea can be made via the Start Tel Aviv page on the Asan Nanum Foundation website from July 9 to August 8. One team chosen will take part in Start Tel Aviv 2013, held over five days from October 13 to 17. Israel has produced many top quality startups and is gaining attention as a leading “creative economy” nation. Waze, which was acquired by Google, Paypal and Checkpoint all started out in Israel. Tel Aviv is estimated to have around 600 startups and is considered the center of Israel’s creative economy.

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Israel’s Ambassador to South Korea Tuvia Israeli attended the signing of the MOU last week and said that he was pleased to help with leading support in the area of young entrepreneurship together with Asan Nanum Foundation. The foundation was established in 2011, ten years after the death of Hyundai founder Ju-yung Chung with 600 billion won in contributions from Hyundai Heavy Industries Group and politician Mong-joon Chung.

“It was because of young entrepreneurs that South Korea went from being the poorest country in the world to being among the ten biggest economies in the world,” said Chung who created the foundation and is also the son of the late Hyundai founder. “Asan Nanum Foundation will continually discover and support young entrepreneurs.”

Find out more about Start Tel Aviv competition at Asan Nanum Foundation’s website.


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