Start-up investment platform nr2, which gives businesses and investors AI-enabled insights into South Korea and China’s most promising and innovative start-ups, has raised capital for expansion from new investors, including Lord Rothschild and Sir Simon Robey.
Share this article
Share this article
SEOUL, South Korea, June 9, 2021 /PRNewswire/ 2021 has been a breakthrough year for the Korean startup ecosystem despite the Covid-19 pandemic. Korean Chat API startup Sendbird raised $100 million in Series C funding with a valuation of $1.05 billion. Sendbird is now one of the 12 unicorn startups based out of South Korea. South Korea s largest e-commerce company, Coupang, raised around $4.6 billion in the biggest U.S. initial public offering (IPO) this year. In the first quarter of 2021, at least 34 companies (many of which were tech startups), have applied to the Korea Exchange (KRX) for IPOs. South Korea wants to grow its tech ecosystem and digital economy by making it easier for startups from abroad to expand in the country. The South Korean government aims to attract global startups to set up operations in South Korea.
6
The COVID-19 pandemic might have most students sitting at home and attending virtual classes, but there are some who have dared to embark into the risky land of entrepreneurship. From launching businesses, forming networks and supporting people hit hardest during this crisis, student-led innovative solutions are driving impact across the world during the pandemic. But like all startups, student entrepreneurs too need handholding to understand markets, customer experience and take their business to the next level.
Keeping this in mind, the K-Startup Grand Challenge, one of the world s largest outreach programmes for the entrepreneurial ecosystem, is inviting university students with a penchant for entrepreneurship to apply and fastrack their growth journey.
3
After five successful editions, the K-Startup Grand Challenge is back in 2021. Launched by South Korea’s National IT Industry Promotion Agency (NIPA), the programme invites startups from worldwide to leverage Korea s booming startup ecosystem to expand across Korea and Asia. With the COVID-19 pandemic pushing the need for innovative solutions and entrepreneurs building products that cater to the needs of the new normal, South Korea is evolving as a hub of innovation with its robust startup ecosystem and unfettered access to cutting-edge technology.
Here are the top 10 reasons why you should apply this year:
1. Gateway to Asian markets
With a burgeoning economy and a rising growth trajectory, South Korea is among the most lucrative markets in the Asian region. By making inroads into the country’s startup ecosystem, entrepreneurs can score opportunities in other countries like Japan, China, Hong Kong and Taiwan as well.