{"id":22479,"date":"2016-05-13T13:34:39","date_gmt":"2016-05-13T13:34:39","guid":{"rendered":"http:\/\/www.businesscloudnews.com\/?p=253042"},"modified":"2016-05-13T13:34:39","modified_gmt":"2016-05-13T13:34:39","slug":"korea-government-launches-initiative-to-attract-start-ups","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/korea-government-launches-initiative-to-attract-start-ups\/","title":{"rendered":"Korea government launches initiative to attract start-ups"},"content":{"rendered":"<p><a href=\"http:\/\/www.businesscloudnews.com\/files\/2016\/05\/Startup-challenge.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-253052 alignright\" src=\"http:\/\/www.businesscloudnews.com\/files\/2016\/05\/Startup-challenge-300x277.png\" alt=\"Startup challenge\" width=\"300\" height=\"277\" \/><\/a>Korea\u2019s Ministry of Science, ICT and Future Planning has launched its K-Startup Grand Challenge, an all-expenses-paid acceleration program for 40 start-ups from around the world.<\/p>\n<p>The Korean government has seemingly been making aggressive moves in recent months to bolster its technology capabilities, and the launch of the K-Startup Grand Challenge would appear to support <a href=\"http:\/\/www.businesscloudnews.com\/2016\/03\/30\/korean-government-prioritizes-growth-of-cloud-computing\/\">new policies<\/a> to accelerate the adoption of cloud computing, as well as plans to invest roughly <a href=\"http:\/\/www.businesscloudnews.com\/2016\/04\/04\/korea-to-mount-challenge-in-ai-industry\/\">100 billion won<\/a> (approximately $87.2 million) to build its presence in the AI segment.<\/p>\n<p>&#8220;Korea offers the best technology infrastructure in the world, combined with a population of tech-savvy early adopters who are hot on startups. That, along with our central location makes us the ideal country to establish a foothold in Asia,&#8221; said Choi Yanghee, Minister of Science, ICT and Future Planning. &#8220;We&#8217;re already home to the world&#8217;s top names in consumer technology, semiconductors and gaming, and we&#8217;re eager to host the next generation of high-tech companies.&#8221;<\/p>\n<p>Companies selected for the initiative will receive $4,100 per month to cover living expenses, along with free round-trip flights to Korea for three team members. The government will also provide the teams with offices and lab space in its $160 million Start-up Campus in Pangyo. The program is supported by SparkLabs, DEV Korea, Shift and ActnerLab.<\/p>\n<p>The performance of the companies involved in the initiative will be judged at the end of the three month period. The top 20 start-ups will receive approximately $33,000 in no-strings funding and the top four startups will receive between $6,000 and $100,000 on top of that.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Korea&rsquo;s Ministry of Science, ICT and Future Planning has launched its K-Startup Grand Challenge, an all-expenses-paid acceleration program for 40 start-ups from around the world.<\/p>\n","protected":false},"author":105,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4029,1989,1976,4180],"tags":[18],"class_list":["post-22479","post","type-post","status-publish","format-standard","hentry","category-ai","category-enterprise-it","category-news-analysis","category-south-korea","tag-cloud"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/22479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/105"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=22479"}],"version-history":[{"count":1,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/22479\/revisions"}],"predecessor-version":[{"id":22480,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/22479\/revisions\/22480"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=22479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=22479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=22479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}