Have a business idea that could solve problems in the lives of others? If you always wanted to jump into the startup scene in Korea, it’s time to take the leap.
The Seoul Global Startup Center, a global startup incubator with the purpose of bringing creative ideas into reality, has opened applications for the 4th batch of businesses for their startup incubation program. They will accept applications from February 28th to March 27th 2019.
To apply, your business or idea must be in one of these 3 stages:
Pre-BI (Not yet registered as a business) – A startup with at least one decision-making foreigner legally residing in Korea
BI (Registered less than 3 years) – A startup with a foreign representative (or co-representative) legally residing in Korea
Post-BI (Registered between 3 and 7 years) – A startup with a foreign representative
The 40 teams selected into the program will receive seed funding of up to 20 million won, as well as co-working office space, free-of-charge, for one year. Businesses owners can also participate in educational seminars, receive mentoring from experts, and this year can even attend Korean language classes. Teams will be chosen based on business model validity, growth potential, and innovative capability.
Encouraging global participation and innovation in the ‘Global Startup City, Seoul’, SeoulGSC was founded in July 2016 with funding by the Seoul Metropolitan Government and operation by a private enterprise with 18 years of experience, Rehoboth Business Incubator. SeoulGSC is established to serve as the foreigner-friendly startup hub to ease the challenges foreign entrepreneurs face as they start and run their businesses in Korea.