The Seoul Global Startup Center is definitely an incubator program for startups, funded with the Seoul Metropolitan Government and operated using a private enterprise with 18 numerous years of experience, Rehoboth Business Incubator. In 2016, the Seoul Metropolitan Government has observed the requirement to develop and support start-ups from global participants to make innovation to your economy of Seoul and Korea. They also recognized the significance of a qualified private partner to help you these start-ups succeed, to make sure they chose Rehoboth. Rehoboth operates 36 business centres in Korea and recently expanded overseas to Shanghai, China, along with centres opening soon in Hanoi, Vietnam and Yancheng, China. Rehoboth can be a private enterprise, however, makes ZERO cash in on the operation of this centre.
Community: Rehoboth has over 3600 clients in Korea, numerous partnerships with corporations, enterprises, universities and government organizations in Korea. Globally, additionally, it has partnerships with incubators, accelerators, governments, and organization organizations across the world. There will be also periodic networking parties and investor networking’s.
Advice: Each team will be designated an individual mentor to offer advice and guidance during the 5 month program. Periodic workshops and advisory from external consultants can be purchased. There will be periodic peer mentoring to discuss about their current business status jointly and give advice. The centre is building a web based platform that can enable participants to seek out information in their own individual language or ask the operation team to discover answers with the person with the mobile.
Capital: 10 million won voucher for expenses to every start-up team within sixty days of entering the Seoul Global Startup Center. Additional 5 million won voucher for 12 selected teams. The centre will invite investors with a demo day for participants to provide their ideas and attract funding. Participants get the opportunity to travel unengaged to an overseas market in Vietnam or China for 2 weeks. They will see a local Rehoboth network partner, get involved in local workshops, network with key internet marketers, tour the area start-up scene, and pitch their product to local investors.
Teams aren’t limited in proportions, but should never have been registered more than 5 years. Team doesn’t have to write your business proposal or be incorporated to put on to the program Good ideas and business models to all sectors are welcome to use Teams can put even if they’ve already participated in other programs No office minimum occupancy requirements Office space at Youngsan, tech/hardware district of Seoul Customized assistance will depend on the stage from the team Visa support for people accepted in the program Full entry to Maker space runs through the City of Seoul. All the facilities and resources are free of charge of charge.
Program period: August 1 – December 31
Application deadline: July 29th
Who can Apply:
- Foreigners in Korea
- A team with a minimum of one foreigner
- Global oriented Korean start-ups
Apply online: http://seoulgsc.com
Selection: In late July, 3 steps
Three applicant review steps:
1. Application screening according to business proposal ideas
2. In-person presentation
Incubating program includes: 24/7 space, 10 Million Won voucher for expenses and services, mentoring, consulting, legal, patent, accounting, peer mentoring group, workshops, networking, the ability to present to investors regularly, travel overseas, other customised assistance.
2017 Program: Among start-ups who successfully complete with the 2016 program, could possibly be invited to re-apply and renew the membership to participate in in the 1st enter in 2017.
Full Program Schedule:
June: Online Application Open
July 29: Application deadline
July: Selection process
August 1: Program starts
(TBD): Two weeks of go to China or Vietnam
Dec 31: End on the program
For every other information related to Seoul Global Startup Center Incubation program 2016, please talk to a member from the Accelerate Korea Team: David Dongwon Kang, Country Director Korea