Conquering Asia Market – Difficult problem
From startups with experience in the international market, many difficulties have been pointed out: different language and consumer culture of the market, different legal policies, the belief of new markets in production. foreign products, the ability to survive in the market test, … Startup needs to solve many problems on its own if it is not possible to find an international consultant or expert who cannot connect with start-up support unit in the target area or do not have sufficient financial resources to maintain operation.
In order to support startup development in the Korean market and gain momentum to expand throughout Asia, the K-Startup Grand Challenge contest held by the Korean government every year since 2016 has become a prestigious program attracting many Quality startups from Vietnam and internationally. The program enables startups to research and develop products, test business models and reach potential customers along with connection and investment activities. Coming out from here, many Vietnamese startups have transformed themselves and achieved certain successes, including some prominent names such as XtayPro, Kodimo, DesignBold, Smartlog …
“This award will help us accelerate our growth plan. Through the program, we have become more mature and have many important partners for the Korean market in particular and East Asia in general. , .. “- Mr. Nguyen Trung Hieu – Founder & CEO of XtayPro – the first Vietnamese startup to win the top 3 K-Startup Grand Challenge share.
XtayPro is a sharing economy platform for the global community of buying and carrying. Launched in 2014 and thrived in 2017. XtayPro, despite its unwillingness, still faces some difficulties in language barrier, culture, administrative procedures and cognitive gap … KSGC 2018 and won the prize as a solution to the problem that has been difficult to ever know – entering the Korean market.
XtayPro became the first Vietnamese startup to win the top 3 overall KSGC
Opportunities for recovery and development after a pandemic
Right from the regional selection round, startups will be connected with international investment funds, start-up support centers, and leading experts in Asia. Besides the prize of up to 120,000 USD for the Champion, the teams also have access to international corporations such as Samsung, LG and Lotte … The top 60 teams will be paid up to 15,000 USD to develop the market. It can be said that KSGC is the perfect launch pad for startups entering Korea, gaining momentum for reaching Asia and conquering the international market.
KSGC organizes many programs to connect startups with international investment funds and experts
Comprehensive support to develop the world
“We are fully supported in terms of cost, paperwork, administrative procedures and are connected with large businesses, potential partners and market research. If you recognize this is an opportunity to Learning from startups from developed countries, looking for partners to develop their products, this is a golden opportunity to test their products in the international market. ” – Mr. Tong Vu Than Dan, CEO of Kodimo – Top 10 KSGC competitions in 2019 shared.
Mr. Tong Vu Than Dan, representative of Kodimo Company and the top 20 KSGC startups 2019, had an exchange meeting with Minister Park Young-sun – Minister of Small and Medium Enterprises and Entrepreneurship (SME & Startups) in Korea .
Kodimo gives children the approach to knowledge and skills development of the 21st century in the direction of integrating STEAM and programming, thinking development. Kodimo has surpassed 1600 teams from all over the world and reached the top 10 in KSGC 2019. Just a few months after the competition, Kodimo opened its second representative office in Korea and held many programs spread out. experience products, connect with distributors and gradually conquer the market of kimchi.
Kodimo receives many opportunities to research and develop its products and business model
“Joining the program, the biggest thing we get is an opportunity to research and develop our products and business model. Kodimo has partnered with many partners in Korea and with the program. The acceleration has helped Kodimo’s products to be more complete and effective than before, and the opportunity to meet customers gives us market feedback to change the business model to be more appropriate.
If we didn’t try it, we wouldn’t know we could do it now. ”
K-Startup Grand Challenge 2020 continues to receive applications until the end of June 25, 2020
Register and find out details at: [ Æsir Tales ]