The Ministry of SMEs and Startups (Minister Oh Young-joo) and the Korea Institute for Startups and Entrepreneurship Development (President Yoo Jong-pil) announced that they will be recruiting participating companies for the 'K-Startup Center (KSC)' until the 30th.
The Ministry of SMEs and Startups and the Korea Institute for Startups and Entrepreneurship Development have been supporting the entry into overseas markets through collaboration with overseas experts such as local accelerators through the 'K-Startup Center (KSC) Program' for six years since 2020 to support the establishment of domestic startups in overseas markets.
The K-Startup Center (KSC) is a support program that selects excellent startups with a history of attracting domestic and foreign investment or sales performance in the region they have entered and provides a local accelerating program to help them settle into overseas markets. Of the 380 companies that have participated in the KSC program since 2020, 289 companies (76.1%) have succeeded in expanding overseas, creating remarkable results.
This year, we are supporting startups that wish to advance into three countries: the United States, Japan, and the United Arab Emirates. We have expanded the scope of support by dividing the support tracks into three, so that they can participate in local programs in two countries in succession.
In addition, after a 6-week preparatory process in Korea, including a local accelerator visiting Korea to help set key performance goals on a 1:1 basis, participants will receive support for 14 weeks (7 weeks per country) of local programs in each country.
Through this, we plan to provide full support for K-startups to settle into overseas markets through partnerships, investor matching, overseas expansion funds (approximately KRW 40 million), country-specific showcases, and performance presentations.
“Thanks to the mentoring of overseas local accelerators and the network of experts, the establishment of local corporations and local partnerships went smoothly,” said Jaehoon Shim, CEO of Hoppae, who participated in the 24-year K-Startup Center (KSC) France program.
“The K-Startup Center (KSC) is a global platform where startups ready to expand overseas can effectively enter the global market,” said Yoo Jong-pil, president of the Korea Institute for Startups and Entrepreneurship Development. “I hope that the K-Startup Center (KSC) program will become a successful stepping stone for startups to settle into overseas markets.”
Companies wishing to participate in the K-Startup Center (KSC) can apply online through the K-Startup website until the 30th (3:00 PM).
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