Ministry of SMEs and Startups Notice No. 2021 – 023
「2021 Global Acceleration Program for Startups」 Recruitment Notice of Overseas Accelerators for the 2021 Global Acceleration Program for Startups
January 18, 2021
Minister of SMEs and Startups
Background of Recruitment
The Ministry of SMEs and Startups (MSS) and the Korea Institute of Startup & Entrepreneurship Development (KISED) have been operating the “Global Acceleration Program for Startups” (GAPS) to help prospective Korean start-ups and early-stage startups to explore the possibility of advancing into global markets and localize their startup items, and to this end, recruit overseas accelerators for the year 2021.
MSS is a central administrative organization that plans policies for small and medium-sized enterprises, venture companies, and startups in Korea and exercises supervision over business affairs regarding the support, protection, and fostering of such businesses. KISED is a public organization under the umbrella of MSS and Korea’s representative organization specialized in supporting technology entrepreneurship and commercialization by providing support for more than 70,000 startups every year through programs for entrepreneurship education, financial support for commercialization, and support for global expansion.
KISED is looking for overseas accelerators based in six locations including Silicon Valley in the U.S., Beijing and Shanghai in China, Hanoi in Vietnam, London in the U.K., and Berlin in Germany. Selected accelerators shall directly evaluate Korean startups to participate in GAPS to be operated by the respective accelerators and run GAPS not only online for four weeks during the period from June to July 2021 but also in each of the above locations for six weeks during the period from August to October 2021.
For those startup accelerators desiring to operate GAPS, please submit an application by February 14, 2021 at 5 p.m. (Korean time).
MSS is a central administrative organization that plans policies for small and medium-sized enterprises, venture companies, and startups in Korea and exercises supervision over business affairs regarding the support, protection, and fostering of such businesses. KISED is a public organization under the umbrella of MSS and Korea’s representative organization specialized in supporting technology entrepreneurship and commercialization by providing support for more than 70,000 startups every year through programs for entrepreneurship education, financial support for commercialization, and support for global expansion.
KISED is looking for overseas accelerators based in six locations including Silicon Valley in the U.S., Beijing and Shanghai in China, Hanoi in Vietnam, London in the U.K., and Berlin in Germany. Selected accelerators shall directly evaluate Korean startups to participate in GAPS to be operated by the respective accelerators and run GAPS not only online for four weeks during the period from June to July 2021 but also in each of the above locations for six weeks during the period from August to October 2021.
For those startup accelerators desiring to operate GAPS, please submit an application by February 14, 2021 at 5 p.m. (Korean time).
Overview of Recruitment
(Number of accelerators to be selected) Eight accelerators based overseas* in five countries
(Countries: Listed in Korean alphabetical order)
(Countries: Listed in Korean alphabetical order)
| No. | Country | Region | Number of accelerators to be selected |
|---|---|---|---|
| 1 | Germany | Berlin | 1 |
| 2 | U.S. | San Francisco (Silicon Valley) | 3 |
| 3 | Vietnam | Hanoi | 1 |
| 4 | U.K. | London | 1 |
| 5 | China | Beijing | 1 |
| 6 | Shanghai | 1 |
* The head office (or the local office) having a business registration certificate in the relevant region shall file an application.
(Recruitment period) January 18 (Mon.), 2021 – February 14 (Sun.), 2021 at 5 p.m. (Korean time)
(Number of startups to be incubated) About 10 Korean startups will be incubated per accelerator.
(Major roles) ① Participation in the evaluation and selection of startups.
② Holding of a workshop to enable startups to set their GAPS participation goal (key performance index (KPI)).
③ GAPS planning and operations (online for four weeks and on the site for six weeks)
④ Reporting of plans for the online and onsite GAPS operations and the results thereof
② Holding of a workshop to enable startups to set their GAPS participation goal (key performance index (KPI)).
③ GAPS planning and operations (online for four weeks and on the site for six weeks)
④ Reporting of plans for the online and onsite GAPS operations and the results thereof
※ If it is impossible to run GAPS on the site due to the COVID-19 pandemic, one or more overseas accelerators shall visit Korea and operate GAPS therein.
Application Requirements
Two or more staff (managers) dedicated to managing Korean startups during the GAPS operation period shall be assigned.
– Such managers shall have at least three years of experience in providing mentoring, consulting, and education for business expansion in the startup field and working in the venture investment field.
– Such managers shall carry out their work, giving top priority to GAPS during the term of a MOU with KISED, as those in charge of managing support activities for Korean startups (informing them of GAPS-related notifications, identifying such startups’ achievements created by the GAPS progress, and responding to their difficulties) and communicating with the contact person of KISED).
– Such managers shall have at least three years of experience in providing mentoring, consulting, and education for business expansion in the startup field and working in the venture investment field.
– Such managers shall carry out their work, giving top priority to GAPS during the term of a MOU with KISED, as those in charge of managing support activities for Korean startups (informing them of GAPS-related notifications, identifying such startups’ achievements created by the GAPS progress, and responding to their difficulties) and communicating with the contact person of KISED).
Accelerators shall possess the experience of incubating startups based in various countries including Korean startups within the recent three years (2018-2020).
– For instance, a case where an accelerator based in Germany assisted U.S. startups in advancing into the German market.
– For instance, a case where an accelerator based in Germany assisted U.S. startups in advancing into the German market.
If a Korean startup takes part in GAPS on the site, available office space shall be provided to such startup.
Application Submission and Receipt
(Application deadline) February 14 (Sun.), 2021 at 5 p.m. (Korean time)
(Documents required) ① Application form, ② business registration certificate, ③ the above dedicated managers’ resumes, and ④ introductory materials on the overseas accelerator (including a brochure, a PPT and a promotional video)
(How to apply) Submit the documents required to the email address below.
– (Email address for document submission) dream2@kised.or.kr
– (Email Re) [2021 GAPS] Name of Country Chosen / Location / Accelerator Name
– (Email address for document submission) dream2@kised.or.kr
– (Email Re) [2021 GAPS] Name of Country Chosen / Location / Accelerator Name
※ The required documents submitted may be disclosed to the outside for the purpose of recruiting startups and promoting GAPS.
Evaluation
(Evaluation procedure) Final selection is made after conducting a two-step evaluation procedure consisting of ① a written evaluation → ② a non-face-to-face interview evaluation.
* If the number of the applications regionally received is less than twice the number of accelerators to be selected, a written evaluation shall be omitted.
* If the number of the applications regionally received is less than twice the number of accelerators to be selected, a written evaluation shall be omitted.
| Recruitment of overseas accelerators | → | Written and interview evaluations | → | Notification of the evaluation outcome |
|---|---|---|---|---|
| January 18 (Mon.) – February 14 (Sun.), 2021 |
February 17 (Wed.) – February 19 (Fri.), 2021 |
February 23 (Tue.), 2021 | ||
| Filing an application with KISED | The evaluation committee of KISED | KISED → the relevant accelerator |
* The evaluation schedule may be adjusted in the process of carrying out the evaluation procedure.
① (Written evaluation) Applicants about twice the number of accelerators to be selected shall be chosen as interviewees.
② (Interview evaluation) A presentation of GAPS operation plans will be given by each accelerator and a Q&A interview therewith will be conducted for 30 minutes.
※ Please understand that each interview will be carried out according to Korean time during the period from February 17 (Wed.) to February 19 (Fri.), 2021 and that a time difference between countries will not be considered.
Business Presentations
Online business presentations will be given to overseas accelerators that are interested in the 2021 GAPS operation.
(Registration to participate in a business presentation) Any applicant for such participation shall complete its application form by having access to the Google link.
* A connection link to access an online business presentation will be sent to such applicants.
* A connection link to access an online business presentation will be sent to such applicants.
| Classification | Presentation date and time | Key details |
|---|---|---|
| First presentation | January 27 (Wed.), 2021 at 10:00-11:00 a.m. | · Giving guidance on 2021 GAPS, recruitment of overseas accelerators, and how to evaluate applicants. · Offering guidance on how to complete the application form and a Q&A session. |
| Second presentation | January 27 (Wed.), 2021 at 4:00-5:00 p.m. |
Contact Addresses
MSS Global Growth Policy Division
iamhyein@korea.kr
KISED Global Startup Division
dream2@kised.or.kr
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