Third K-startup promotion begins

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Third K-startup promotion begins

Google Korea said yesterday it will start recruiting companies to participate in K-startup, a global start-up development project.

The project, which is hosted by AppCenter and supported by Google Korea, SK Planet and the Banks Foundation for Young Entrepreneurs, helps domestic start-ups enter overseas markets by connecting them to IT companies in Silicon Valley.

Google held the first K-startup in January and August 2012 and chose 20 start-ups.

Nine start-ups including Sentence, I&Combine and Korbit attracted additional investment from overseas, and Delight.io was acquired by a start-up in Silicon Valley.

Google Korea said it is looking for excellent teams for the third K-startup event from the entertainment, fashion, commerce and social media sectors.

Well-known mentors from overseas will visit Korea to hold boot camps on the topics of business, design, marketing and investment once every three weeks.

A weekly workshop called Pitch Clinic will help start-up entrepreneurs boost their English presentation skills with local experts from each sector.

After the program is finished, the AppCenter, Google Korea, SK Planet and the Banks Foundation for Young Entrepreneurs will provide an opportunity for participants to introduce themselves to foreign investors.

The selected start-up teams will receive 40 million won ($37,497) in investment - 20 million won each from SK Planet and the Banks Foundation for Young Entrepreneurs - and will be able to move into the start-up support center of the Banks Foundation D.Camp and SK Planet’s Open Innovation Center.

Depending on the size of the company, they can receive up to $20,000 in credit to use the Google App Engine.

Any start-up that aims to provide global services can apply. Applications can be made online at www.kstartup.com by Jan. 20.


BY KIM JUNG-YOON [kjy@joongang.co.kr]

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