Marine Nexus to compete in the K-Startup Grand Challenge, sets sail for South Korea to participate in 4-month accelerator programme
SEOUL, SOUTH KOREA: This month, Marine Nexus will head to Seoul, South Korea to compete in the K-Startup Grand Challenge, an accelerator programme that gears technology-based start-ups for expansion into the South Korean market.
About the K-Startup Grand Challenge
Jointly organized by the Ministry of Science, ICT and Future Planning, and the National IT Industry Promotion Agency, the government-supported programme aims to strengthen the regional innovation architecture and position South Korea as Asia Pacific’s prominent global start-up hub.
Following the global auditions in March, 50 start-ups were selected for the next phase of the challenge – A 4-month accelerator programme starting on 16 August at the Pangyo Startup Campus. Located in the Pangyo Techno Valley, the complex provides an ideal environment for SMEs and start-ups to exchange ideas with technology-focused research institutes and larger, global corporations. Ultimately, the goal is to create new business opportunities and foster the growth of start-ups.
The teams will participate in mentorship, networking and learning activities with the programme’s partners, which includes tech giants like Samsung, Hyundai, KT Corporation and SK Group.
At the end of the programme, the 50 teams will participate in a demo day, typically held in the first week of December. The top 25 selected teams will receive further financial support from the Korean government to establish their businesses in South Korea under a 6-month settlement plan.
About Marine Nexus
For Marine Nexus, a global digital marketplace with thousands of active maritime buyers and sellers, the programme provides a good entry point into the Northeast Asian market. They will be working with SparkLabs, a Seoul-based accelerator focused on start-ups from the Internet, online gaming, mobile, ecommerce and digital media sectors.
“We are extremely privileged to be one of the six start-ups from Singapore selected for this programme in South Korea. The formalized expansion of Marine Nexus into South Korea will connect our regional clients in Southeast Asia and the Middle East to the Northeast Asian market on a greater scale, and help us grow our marketplace to include more maritime and shipping companies. Given the robustness of the maritime ecosystem in South Korea, we hope to bring these deep skill sets out of Korea and extend them to the international community,” said Marine Nexus’ CEO Eric Chean.
As the maritime industry tips into digitization, Marine Nexus’ online platform levels the playing field for SMEs that may not have access to as much resources as the bigger industry players.
“Ultimately, we aim to provide a platform where good ideas, products and services are no longer constrained by international barriers. In using digital technology, connections amongst vessel providers, equipment suppliers, services providers and clients can now be forged globally in a much more cost efficient manner," Eric added.
For more information on Marine Nexus, visit our website at www.marinenexus.com or call us +65 6817 2460.