Recruiting Startups for Global Scale-Up Challenge... Six Countries Including Sweden

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 2nd that it is recruiting 92 startups to participate in the local scale-up program at the Korea Startup Center (KSC).

The recruitment period for KSC startups is from the 3rd to the 29th. The plan is to actively support startups' entry into overseas markets.

KSC is a globalization support platform that selects startups that have received domestic and international investment or recommendations from accelerators, verifies their potential for overseas market entry, and provides programs to help them settle locally.

In this program, startups challenging global scale-up will be selected and supported with investor matching and large corporation partnerships overseas. The program will be conducted in Sweden, Finland, Israel, Singapore, India, and the United States.

The program schedule may be adjusted depending on local circumstances, and it is expected to proceed after June of this year, when the COVID-19 situation stabilizes. Final selected companies will receive follow-up support specialized by country, suitable for local market entry.

Startups will be fully supported to settle overseas through local office space, entry funds (10 million KRW), follow-up accelerating programs (5-10 weeks), startup-exclusive vouchers, and connections to follow-up support such as demo days and investor presentations.

No Yongseok, Director of Global Growth Policy at the Ministry of SMEs and Startups, said, "The Korea Startup Center is a platform where Korean startups deeply integrate into the local startup ecosystem and where startups from both countries can actively network and achieve win-win outcomes. We will support cooperation with innovative startups from various countries to foster unicorn companies through the globalization of domestic startups."

This content was produced with the assistance of AI translation services.