Tourism Organization Recruiting Companies for the 'Tourism Global Challenge Program'

[Asia Economy Reporter Donghyun Choi] The Korea Tourism Organization announced on the 20th that it is recruiting companies to participate in the ‘Tourism Global Challenge Program,’ which discovers and nurtures excellent tourism companies and supports their overseas expansion.

Selected companies will receive commercialization funds ranging from 100 million to 300 million KRW. They will also participate in a global accelerating program that includes overseas expansion-related education, mentoring, market validation, and matching with overseas investors and buyers. For this project, the Tourism Organization has pre-selected three overseas-specialized accelerators (CNT Tech, Awesome Ventures, Y&Archer) and will select a total of 30 companies, 10 from each, to provide differentiated and customized support.

In particular, selected companies will undergo specialized incubation courses by each accelerator and have opportunities to showcase their products and services to local investors and buyers by participating in overseas roadshows and demo days in the second half of the year. At the end of the year, excellent companies will be selected by evaluating their efforts and achievements in overseas expansion throughout the year, and follow-up commercialization funds and support programs for 2022 will be provided.

Applications can be submitted by choosing the most suitable one among the three overseas-specialized accelerators after comparing their overseas focus markets, strengths, and core programs. The application deadline is May 14th at 2 PM. The selection process includes document evaluation and presentation evaluation (including English). Since submission documents and submission locations vary depending on the accelerator, applicants should refer to individual announcements.

More detailed information about applications and contests can be found on the Tourism Organization’s website under ‘Announcements/Contests,’ the Tourism Enterprise Support Center’s website under ‘Notices,’ and the K-Startup Startup Support Portal’s website under ‘Project Announcements.’

Andeoksu Ahn, Head of the Tourism Enterprise Support Office at the Korea Tourism Organization, said, “This year, we expanded the number of participating accelerators to three to diversify the target markets and support programs for tourism companies. We hope that excellent tourism companies will grow into global leaders in the tourism industry through this program.”

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