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