Hyderabad: South Korea is inviting Indian start-ups to take part in K-Startup Grand Challenge 2017, a global competition for tech start-ups backed by the Korean government.

Promoted by the National IT Industry Promotion Agency, a non-profit governmental organisation of the Republic of Korea, the competition will also give start-ups a chance to strike business agreements with Korean corporates.

“The winners will get a chance to participate in a government-backed accelerator programme in Korea. It will open up business opportunities for start-ups by helping them explore the Korean market. And it will give them a foothold to enter the Asian market,” says Lee Kyung-hwan, Executive Director of India-Korea SW Cooperation Centre.

As many as 50 start-ups will receive $12,000 for living expenses over their four-month stay in Korea. Of these, 25 will get a grant of $27,000 each at the Demo Day.

The deadline for submitting applications has been extended to June 14 from June 6.

Source: The Hindu Business Line