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K-Startup Grand Challenge 2022: From stepping stone in Korea to the gateway for Startups to conquer the Asian market

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After seven consecutive years of organization, attracting more than 10,000 Startups from 151 countries to participate, with 1,25 billion USD invested, The Korean Government’s K-Startup Grand Challenge program affirms its position as a gateway to help potential Startups conquer the Asian market.

Korea – New Startup hub in Asia

Korea is the 15th largest domestic market in the world with a scale of 736,21 million USD. LTE covers 100% of the Korean territory. The country has not only a favorable geographical position when located in East Asia, next to mainland ChinaJapanHong Kong, and Taiwan but also an active and well-designed Startup ecosystem, attracting investors, accelerators, and incubators worldwide.

The Korean Government is making firm commitments to support the Startup ecosystem with an investment of up to 10 trillion won (estimated 8,7 billion USD). There are currently about 40 Startup accelerators in Korea that provide capital to entrepreneurs in various fields. With such an environment, Korea is becoming the hottest Startup hub in Asia.

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K-Startup Grand Challenge 2022 – The golden gate to Asia

Intending to become the leading Startup Center in the region and the world, the Korean Government has organized K-Startup Grand Challenge (KSGC) since 2016 to support foreign Startups who want to expand into the Asian market by using the Korean market as a stepping stone. Over the years, the program has had more than 10,000 applications from 151 countries worldwide, and the total investment is more than 1,5 billion USD. In 2022, the Korea IT Cooperation Center in Hanoi (KICC), which is a representative office of  the National IT of Industry Promotion Agency (NIPA), continues to be the unit responsible for implementing the K-Startup Grand Challenge 2022 (KSGC 2022) in Vietnam and PhilippinesTaiwanHong KongCambodiaMyanmarLaosEast Timor.

From April 15th, 2022, the KSGC 2022 program will begin to receive applications through https://www.k-startupgc.org/ until the end of May 31st, 2022.

June 7th – 10th, 2022 is the time to review the application.

June 20th – 24th, 2022 will take place the Global Audition.

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June 30th, 2022, the best 60 teams worldwide will participate in the accelerator program in Pangyo Technology Valley, Korea, which will officially begin from August 1st to November 15th, 2022 (3.5 months).

The Top 60 Startups will receive support funding up to 11,136 USD/team and present products to investors at the investment fair. After that, the Top 30 Startups will participate in the establishment support program in Korea, which will last for another 3.5 months (with funding up to 11,136 USD/team). On the other hand, the Top 10 Startups will receive financial support totaling up to 320,000 USD.

More than just a competition, KSGC 2022 is a door for Startups to expand to foreign markets, connect with leading corporate and VCs in Asia and to validate their business model.

Who can register to participate?

Startups less than seven years old or Pre-entrepreneur whose representative holds a foreign nationality other than Korea.

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Projects and Startups from all fields, including AI, Blockchain, 5G, Big Data, and E-commerce, have the potential to expand their business to the Asian market by using the Korean market as a stepping stone.

Blockchain

Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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