South Korea Launches 10th Edition of K-Startup Grand Challenge, Offering ₩950M in Support to Global Startups

South Korea’s Ministry of SMEs and Startups (MSS) has opened applications for the 10th edition of the K-Startup Grand Challenge (KSGC), its flagship initiative to bring the world’s most promising startups into Korea and help them scale across Asia. The program offers an equity-free support package worth up to ₩950 million (US$633,000), designed to help international startups establish operations in Korea, connect with major local companies, and access funding and commercialization opportunities.

Over the past nine years, KSGC has supported hundreds of international startups, and its 10th edition brings a redesigned, more flexible structure to meet founders where they are—geographically and strategically. The 2025 program is open to foreign startups or startup founders from abroad who wish to incorporate in Korea and scale in the Asian market.

A Three-Phase Hybrid Program

This year’s KSGC will run from July 2025 to April 2026 in a hybrid format, offering a combination of online and offline support across three distinct phases. This structure enables selected teams to continue their operations at home while gradually building their presence in Korea.

The program begins with a three-week online Market Exploration phase in July and August, where 80 selected teams will receive mentoring, explore Korean market opportunities, and learn about localization strategies. This is followed by the Market Entry phase, a three-month on-site program from September to December 2025. During this period, 40 startups will be invited to Korea and supported with business acceleration, incorporation help, and investor engagement.

Finally, the Market Growth phase will run from January to April 2026. The top 20 teams from the earlier phases will receive deeper support tailored to scaling operations. In addition to office space and mentoring, the top 8 performing startups in this stage will receive equity-free commercialization grants.

Opportunities to Connect with Policymakers and Global Audiences

A key highlight of the 2025 edition is the opportunity for selected startups to pitch at the APEC Small and Medium Enterprises Ministerial Meeting, a high-profile international event gathering SME policymakers from across the Asia-Pacific region. This exposure offers startups direct visibility among government officials and industry leaders shaping regional innovation policy.

In addition, all teams progressing to Phase 2 will pitch their solutions at COMEUP 2025, South Korea’s premier startup and tech conference. The Demo Day, held during this event, includes a ₩380 million (US$253,000) prize pool, with awards presented to the top 20 startups based on innovation, market potential, and impact.

Corporate Partnerships and PoC Projects

One of KSGC’s strongest advantages is its deep integration with Korea’s corporate ecosystem. This year, over 20 of the country’s largest companies, including Samsung, Hyundai, LG, and KT, are collaborating with the program to offer Proof-of-Concept (PoC) projects and partnership opportunities.

These connections are facilitated through the Gyeonggi Center for Creative Economy & Innovation (GCCEI), part of a nationwide network of 19 innovation centers. Each center is partnered with a major Korean conglomerate and helps link startups with key industry players. For international teams, this can lead to pilot projects, investment, and joint ventures with Korean enterprises.

Startups selected for KSGC will also receive support with visa applications, incorporation processes, and access to co-working spaces. The program’s structure allows them to focus on business development, customer acquisition, and scaling, without the distractions of logistical hurdles.

A Proven Track Record: The Story of Polymerize

The long-term value of KSGC is reflected in the success of alumni like Polymerize, a Singapore-based AI startup and winner of the 2024 edition. Since joining the program, Polymerize has established a local R&D team through a partnership with KAIST (Korea Advanced Institute of Science and Technology), launched over 10 PoC projects with leading Korean materials companies, and secured Series A bridge funding from SparkLabs Korea. It also signed a commercialization agreement with a major Korean chemical manufacturer.

This progression—from market entry to R&D collaboration, commercialization, and fundraising—demonstrates how KSGC acts as a springboard for sustained growth in Korea and the broader Asian market.

Eligibility and Application Details

The K-Startup Grand Challenge is open to startups founded by non-Korean nationals that are less than seven years old (or ten years in deep-tech sectors). International students in Korea are also encouraged to apply. The program focuses on startups with innovative solutions in areas such as artificial intelligence, biotechnology, fintech, smart manufacturing, mobility, energy, and other emerging industries.

Applicants should demonstrate a strong interest in entering the Korean market, as well as the potential to expand regionally. Teams are assessed on business model, technical capability, growth potential, and relevance to Korea’s industrial priorities.

What Startups Can Expect:

• Structured acceleration and mentoring from July 2025 to April 2026
  
• Free office space and support for visa and business setup in Korea
  
• Access to pilot projects with Samsung, LG, Hyundai, and other major firms
  
• Participation in top regional events including APEC SME Meeting and COMEUP
  
• Up to ₩950 million (US$633,000) in non-dilutive financial support
  
• Demo Day prizes totaling ₩380 million, plus follow-on grants of ₩50 million each for high performers
  

How to Apply

Applications are open until June 13, 2025, 15:00 KST. Startups interested in applying can visit the official KSGC website at www.k-startupgc.org or email [email protected] for more information.