Ministry of SMEs and Startups Notice No. 2021-56
「2021 K-Startup Center」
Announcement of Recruitment of Accelerators from 7 Countries to Operate the Program
Jan 28, 2021
Minister of SMEs and Startups
Program Background
The Ministry of SMEs and Startups (MSS) and the Korea Institute of Startup & Entrepreneurship Development (KISED) is operating the K-Startup Center in order to promote the entry of Korean growth-stage startups into overseas markets and to support them in settling into the new markets. MSS and KISED are recruiting accelerators to run local K-Startup Center programs in seven countries in 2021.
Ministry of SMEs and Startups (MSS) is the ministry responsible for policies regarding small and medium-sized enterprises, venture companies, and startups in Korea and oversees not only policy planning, but also support, protection and fostering programs. Korea Institute of Startup & Entrepreneurship Development (KISED) is a public institution under MSS, specializing in providing support to over 5,000 startups annually through entrepreneurship education programs, financial support for commercialization, and support for global expansion.
KISED will be selecting accelerators with presence in 7 locations: Seattle (USA), New Delhi (India), Stockholm (Sweden), Helsinki (Finland), Tel Aviv (Israel) Singapore and Paris (France). The selected K-Startup Center program’s accelerators will be responsible for directly evaluating and selecting Korean startup companies to participate in their program. Startup teams shall be recruited by KISED, with the focus on leading specialized industries in each country. Upon startup companies’ selection, the accelerators are responsible for conducting a short, remote (online) program in May 2021, followed by a KPI workshop in June and a regular program (run locally or remotely) between July and October. (See program details on p.3~4 of the Appendix)
Accelerators wishing to participate as K-Startup Center accelerators are asked to submit their applications by no later than February 21st (Sun), 2021 at 5pm KST (Korea Standard Time).
Ministry of SMEs and Startups (MSS) is the ministry responsible for policies regarding small and medium-sized enterprises, venture companies, and startups in Korea and oversees not only policy planning, but also support, protection and fostering programs. Korea Institute of Startup & Entrepreneurship Development (KISED) is a public institution under MSS, specializing in providing support to over 5,000 startups annually through entrepreneurship education programs, financial support for commercialization, and support for global expansion.
KISED will be selecting accelerators with presence in 7 locations: Seattle (USA), New Delhi (India), Stockholm (Sweden), Helsinki (Finland), Tel Aviv (Israel) Singapore and Paris (France). The selected K-Startup Center program’s accelerators will be responsible for directly evaluating and selecting Korean startup companies to participate in their program. Startup teams shall be recruited by KISED, with the focus on leading specialized industries in each country. Upon startup companies’ selection, the accelerators are responsible for conducting a short, remote (online) program in May 2021, followed by a KPI workshop in June and a regular program (run locally or remotely) between July and October. (See program details on p.3~4 of the Appendix)
Accelerators wishing to participate as K-Startup Center accelerators are asked to submit their applications by no later than February 21st (Sun), 2021 at 5pm KST (Korea Standard Time).
Recruitment Overview
(Goal of Recruitment) To support successful localized scale-up of Korean startup companies by selecting specialized organizations to operate K-Startup Center programs in seven countries in 2021.
(Number of accelerators to be selected) Accelerators that have experience supporting startups and have appropriate professional networks in each indicated specialized industry (1 per country, 7 organizations in total)
| Country | USA (Seattle) |
Sweden (Stockholm) |
Singapore (-) |
India (New Delhi) |
Finland (Helsinki) |
Israel (Tel Aviv) |
France (Paris) |
|---|---|---|---|---|---|---|---|
| Specialized Industries | Autonomous driving, retail | AI, Green Industry | Fintech, Smart City | EduTech, AgTech | AR,VR,XR Smart Energy | Healthcare Bio, Defence Industry | Culture contents, contact-less industry |
(Recruitment period) January 28th (Thu) ~ February 21st (Sun), 2021, 5pm KST (Korea Standard Time)
(Contract Period) From Date of signing contract agreement with KISED until November 30th, 2021
(Responsibilities)
1) Evaluation & selection of startup companies
2) Operation of a 2-week pre-program
3) KPI workshop (including visiting Korea)
4) Operation of a 8-week local-based regular program
5) Operation result & budget balance reporting etc.
※ If due to COVID-19 situation it is impossible to operate a regular program on site, at least two overseas accelerator's personnel shall come to Korea to run the program in Korea
1) Evaluation & selection of startup companies
2) Operation of a 2-week pre-program
3) KPI workshop (including visiting Korea)
4) Operation of a 8-week local-based regular program
5) Operation result & budget balance reporting etc.
※ If due to COVID-19 situation it is impossible to operate a regular program on site, at least two overseas accelerator's personnel shall come to Korea to run the program in Korea
(Program Budget) KISED will estimate the budget of pre-program and regular programs for each country and will pay the amount in KRW after signing the program agreement with the selected accelerators.
Requirements
① Candidate accelerator must have a network of at least 10 specialized experts and mentors specialized in the specific industries, and must be able to assign at least two dedicated staff members with at least three years of experience in startup and the venture investment field.
② Candidate accelerators must present a history of investment or acceleration in at least 5 overseas startups
③ For conducting of the local regular program, the accelerator must be able to provide access to public space: office space, meeting rooms seminar rooms for at least 10-20 people.
② Candidate accelerators must present a history of investment or acceleration in at least 5 overseas startups
③ For conducting of the local regular program, the accelerator must be able to provide access to public space: office space, meeting rooms seminar rooms for at least 10-20 people.
Accelerator's Role (obligations)
① Startup Company Selection : A three or more person evaluation committee of experts in each specialized industry, investors, mentors, etc. of each type shall be assembled to select companies participating in pre-program and regular program.
② Pre-Program Composition & Operations : Setting up adequate business meetings and improving the understanding of the local market by analyzing the target market, customer-base size, competitors, etc (At least five business meetings should be provided)
③ KPI Workshop : Accelerators shall visit Korea in order to conduct at least three 1-on-1 meetings with selected companies and shall submit finalized KPIs to KISED
④ Regular Program Composition & Operations : Conducted on site (8 weeks), after the end of the pre-program, from June 2021 onwards
※ If the local COVID-19 situation does not considerably improve within 1 month before the beginning of the regular program, the accelerator representatives shall come to Korea to operate the program in Korea
⑤ Submitting the Reports (Accelerator → KISED) : 1) Accelerator is to submit a report on the achievement of KPIs and it’s operational results of pre and regular programs, 2) Expense Report
② Pre-Program Composition & Operations : Setting up adequate business meetings and improving the understanding of the local market by analyzing the target market, customer-base size, competitors, etc (At least five business meetings should be provided)
③ KPI Workshop : Accelerators shall visit Korea in order to conduct at least three 1-on-1 meetings with selected companies and shall submit finalized KPIs to KISED
④ Regular Program Composition & Operations : Conducted on site (8 weeks), after the end of the pre-program, from June 2021 onwards
※ If the local COVID-19 situation does not considerably improve within 1 month before the beginning of the regular program, the accelerator representatives shall come to Korea to operate the program in Korea
⑤ Submitting the Reports (Accelerator → KISED) : 1) Accelerator is to submit a report on the achievement of KPIs and it’s operational results of pre and regular programs, 2) Expense Report
Application
(Application Open) January 26th (Thu) ~ February 21st (Sun), 2021 until 5pm KST (Korean Standard Time)
(How to apply) Please submit required documents via email (to sjlee@kised.or.kr) in a ZIP file or in form of an accessible Google Drive link.
(Required Documents for Submission) ① Application form, ② Resumes of designated staff members, ③ Statement of Expense Breakdown ④ Business Registration Certificate and ⑤ Introduction Materials (including a brochure, a intro deck and a promotional video)
Evaluation process
(Evaluation procedure) ① Document evaluation → ② 2nd phase 1-on-1 interview evaluation
| Accelerator Recruitment | → | Document/Interview Evaluation | → | Result Announcement |
|---|---|---|---|---|
| January 28 (Thu) ~ February 21 (Sun) 2021 | February 24 (Wed) ~ February 26th (Fri), 2021 | ~ Mar 4(Thu), 2021 | ||
| Application submitted through email | KISED Evaluation Committee | KISED → selected accelerators |
(Evaluation Dates) February 24 (Wed) ~ February 26th (Fri), 2021
(Evaluation Times) 30 min between 9:30 am and 7:00 pm KST (Korean Standard Time)
※ Please note that each interview will be carried out according to Korea Standard Time.
※ Please note that each interview will be carried out according to Korea Standard Time.
Program Briefing Sessions
online briefing sessions on K-Startup Center program's details such as application process, selection procedures, program operations etc.
| No. | Dates | Online Session Link |
|---|---|---|
| 1 | Feb 3 (Wed), 2021, 10am ~ 11am KST | (Session Registration) Please sign up via this link (https://forms.gle/WgSiYKp7tWDwTHZ68). * A direct link to access an the online briefing will be sent directly to such registrants. |
| 2 | Feb 3 (Wed), 2021, 5pm ~ 6pm KST |
* Both sessions will cover the exact same contents, so it's advisable to just attend one
Inquiries
MSS – Global Growth Policy Division
Email : iamhyein@korea.kr
KISED – Global Program Department
Tel : +82-2-3440-7324, 7329
Email : sjlee@kised.or.kr, hjmoon@kised.or.kr
Email : sjlee@kised.or.kr, hjmoon@kised.or.kr
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