MSS Notice No. 2020 344
｢Global Startup Academy in 2020｣ Additional Recruitment for Global Accelerators
This notice is for accelerators with global support capabilities, who will be dedicated to the “Global Startup Academy in 2020” to foster promising startup teams in AI, as follows.
The MSS is looking for global accelerators who want to reside in Korea and to discover and foster excellent Korea startup teams. We would like to ask for your interest and active participation.
June 22, 2020
Minister of SMEs and Startups (MSS)
1. Overview
Recruitment for Accelerators
(Purpose) Support Korea startup teams in AI field to enter global markets through the global accelerator's intensive fostering course in Korea
(Number) About two global accelerators
(Duties) Selection and fostering of startup teams, operation of demonstration day, etc.
(Duration) For 6 months from ‘September 2020 to February 2021’
(Budget) About KRW 400 million(USD 320,000) per accelerator (Fostering fee: KRW 25 million(USD 20,000) per start-up team*)
- 1 - * About 15 companies of (preliminary) startups or with business history of 3 years or less will be fostered.
- (Breakdown) Accelerating program operation expense, domestic residence cost, etc.
2. Requirements
Candidates
A company ranks top 50 (as of announced date, June 22) or higher (as of closing date July 7) in terms of a number of invested companies on Crunchbase
* Refer to [Attachment 1] Accelerator Ranking by Crunchbase * Despite the ranking changes in the future, it is possible to participate if the company ranks 50 or higher (124 and more in terms of a number of investment) as of announced date
Conditions
The selected accelerator specialists shall reside in Korea with at least two personnel and to organize and operate the accelerating program of Global Startup Academy.
3. Roles of Global Accelerator
Support global growth of Korea startup teams in AI field
Participate in the evaluation for selection of Korea startup teams in AI field
- 2 - Establish detailed achievement goals for start-up teams (around 15 companies per accelerator) considering their business stages and needs, prepare action plans to achieve the goals and submit them to Korea Institute of Startup & Entrepreneurship Development (KISED)
- The action plans should include quantitative and qualitative goals.
Organize and operate customized programs for Korea startup teams
- BM, mentoring for product (service) advancement, discovering and matching partners and/or investors for global sales channel and investment, etc.
* Hold regular online or offline meet-ups on a monthly basis
Carry out regular consulting for IR and global advancement with Korea startup teams
Performance management and reporting
Weekly & monthly report on fostering startup team status, progress of programs, and final report (performance, outcome, and etc.) after completion of the project (until February 2021)
* The accelerators shall faithfully respond to other material requests from the MSS.
4. Application & Registration
Notice(Application) period: From June 22 (Mon.) to July 7 (Tue.) 5 p.m., 2020
How to apply: Submit an email to ([email protected])
- 3 - Required Documents
No. Required Documents Form 1 Accelerator Application Form Refer to 【Attachment 3】 2 Accelerator introduction materials Any form (brochure, PR materials, & etc.) Resume of dedicated personnel* 3 * Personnel who will be 100% dedicated to Any form this task during the period of programs (6 months) Statement of program cost 4 Refer to 【Attachment 4】 breakdown Any form ① Monthly schedule (for 6 months from September 2020 to February 2021) ② Network (partners, investors & 5 Accelerating Program Proposal etc.) and plan to utilize the list of experts by field ③ Plan for accelerating programs ④ Details of main supports, etc. ⑤ Plan for support and management of Korea startup teams
5. Selection Method and Criteria
Selection method
Select accelerators capable of fostering Korea startup teams from applicants by reviewing their proposals and online interview with each accelerator.
Evaluation criteria
Comprehensive evaluation on acceleration capabilities such as networks including global companies and investors to support global growth of the Korea startup teams in AI field, and plans to support and manage Korea startup teams
- 4 -
No. Evaluation criteria Main contents Program Performance record, specificity and differentiation of 1 Excellence accelerating programs Scale and Excellence of global partner networks and personnel in 2 effectiveness of Korea network Support and Concreteness and adequacy of the plan for support and 3 management of management of Korea startup teams startup teams Program Adequacy of organizing and calculating expenses for 4 operation accelerating programs expenses
Final selection
Select within the top two companies in the order of high score based on evaluation
Roll-out schedules (draft)
Recruitment for Global Proposal review and Agreement Accelerators selection notice
June 22 to July 7, 2020 July 10, 2020 July, 2020
Ministry of SMEs and Startups MSS → Accelerator MSS + Accelerator (MSS)
Outcome reporting and Recruitment and selection Program operation performance evaluation of startup teams
September, 2020 to February, 2021 June to July, 2020 February, 2021
MSS + Accelerator Accelerator MSS + Accelerator
* The above schedule can be adjusted according to circumstances.
- 5 - 6. Notes
The applicants shall take all responsibilities due to failure to understand the contents of this notice.
If any false or unconfirmed information is found during or even after the selection evaluation process, the applicants may be excluded from the evaluation process or the selection may be withdrawn.
The final selected companies shall faithfully respond to the necessary requests for material submission, etc. from the Ministry of SMEs and Startups and the Affiliated Institution for 5 years from the year following the end of the agreement.
7. Inquiry for Application
+82-42-480-4463, [email protected] +82-42-480-4368, +82-42-480-4429
- 6 - Attachment 1 Accelerator Ranking
[Based on Crunchbase (investment) as of June 22, 2020]
Ranking Name of Accelerator Company Country No. of Investment No. of Exits 1 Techstars USA 2,865 230 2 Y Combinator USA 2,842 285 3 500 Startups USA 2,276 229 4 SOSV USA 1,681 44 5 MassChallenge USA 1,346 86 6 Plug and Play USA 1,012 75 7 Start-Up Chile Chile 855 24 8 Startupbootcamp UK 527 28 9 Internet Initiatives Development Fund Russia 432 - 10 HAX China 403 6 11 StartUp Health USA 299 18 12 Dreamit Ventures USA 277 27 13 Lanzadera Accelerator Spain 253 2 14 StartX(Stanford-StartX Fund) USA 238 31 15 Microsoft Accelerator USA 238 37 16 EIT Digital Accelerator Belgium 233 26 17 Entrepreneurs Roundtable Accelerator USA 228 17 18 Chinaccelerator China 215 5 19 Creative Destruction Lab Canada 213 6 20 Techstars New York City Accelerator USA 209 30 21 Alchemist Accelerator USA 206 20 22 Entrepreneur First UK 203 10 23 Wilco France 203 18 24 IndieBio USA 202 2 25 Acceleprise USA 197 11 26 LAUNCH USA 193 17 27 Techstars Boston Accelerator USA 191 31 28 Startup Wise Guys Estonia 177 3 29 Boost VC USA 173 18 30 AngelPad USA 171 31 31 Techstars Boulder Accelerator USA 161 35 32 Microsoft Accelerator Beijing China 152 4 33 Bethnal Green Ventures UK 151 1 34 Capital Factory USA 150 15 35 Oasis500 Jordan 146 - 36 Starve Ups USA 142 22 37 Future Fifty UK 139 36 38 Berkeley SkyDeck USA 138 8 39 JumpStart USA 137 10 40 Quake Capital Partners USA 134 2 41 Boomtown Accelerators USA 134 3 42 MedTech Innovator USA 133 7 43 Rockstart Netherlands 132 9 44 Amplify.LA USA 131 15 45 ASU Venture Devils USA 131 - 46 MIT delta v USA 129 6 47 Revolution’s Rise of the Rest Seed Fund USA 126 2 48 RebelBio UK 126 - 49 Techstars Seattle Accelerator USA 125 27 50 NUMA France 124 21
- 1 - Attachment 2 Information for Accelerators (English)
Information on the recruitment for global accelerators for ｢Global Startup Academy in 2020｣
1 Overview
Program title Global Startup Academy in 2020 Support Korea startup teams in AI field to enter global markets through the Purpose global accelerator's intensive fostering course in Korea A company ranks top 50 (as of announced date, June 22) or higher (as of closing date July 7) in terms of a number of invested companies on Crunchbase Candidates * Refer to [Attachment 1] Accelerator Ranking by Crunchbase * Despite the ranking changes in the future, it is possible to participate if the company ranks 50 or higher (124 and more in terms of a number of investment) as of announced date At least two selected accelerator specialists shall reside in Korea to organize and Conditions operate the accelerating program of Global Startup Academy Up to KRW 400 million (USD 320,000) per accelerator [KRW 25 million (USD Budget 20,000) per startup team*] Duration For 6 months from ‘September 2020 to February 2021’ Organize and operate customized programs for Korea startup teams in AI field Program structure * BM, mentoring for product (service) advancement, discovering and matching partners or investors for global sales channel or investment, etc. Number of startups to be Around 15 Korea startup teams will be matched for each accelerator. assigned Roll-out schedules (draft)
Recruitment for Global Proposal review and Agreement Accelerators selection notice
June 22 to July 7, 2020 July 10, 2020 July, 2020
Ministry of SMEs and Startups MSS → Accelerator MSS + Accelerator (MSS) Outcome reporting and Recruitment and selection Program operation performance evaluation of startup teams September, 2020 to February, 2021 June to July, 2020 February, 2021
MSS + Accelerator Accelerator MSS + Accelerator
- 2 - 2 Accelerator Selection Method
Selection scale About two top-tier global accelerators
① Performance record, specificity and differentiation of accelerating programs ② Excellence of global partner networks and personnel in Korea Considerations ③ Concreteness, and adequacy of the plan for support and management for evaluation of Korea startup teams ④ Adequacy of organizing and calculating expenses for accelerating programs
3 Proposal submission and deadline Submission By Tuesday 5 p.m. on July 7, 2020 (based on Korean time) deadline
* Documents No. 1 and No. 4 are provided, and Documents No. 2, No. 3 and No. 5 can be submitted at your disposal. 1. Accelerator Application Form (Use the form provided) 2. Accelerator introduction materials (brochure, PR materials, etc.) 3. Resume of dedicated workforce* * Personnel who will be 100% dedicated to this task during the period of the program (6 months) Required Documents 4. Statement of program cost breakdown (Use the form provided) 5. Accelerating Program Proposal - Monthly schedule (for 6 months) - Networks (partners, investors & etc.) and plan to utilize the list of experts by field, plan for accelerating programs, details of main supports, & etc. - Plan for support and management of Korea startup teams
How to Submit an email to ([email protected]) submit Person in Hye-rim Ko charge and Startup Cooperation Strategy Division | Program Manager contact [email protected]
- 3 - Attachment 3 Program Application (English)
｢Global Startup Academy in 2020｣ Application for the Global Accelerating Program 1 Accelerator Overview Name of Accelerator (# of persons in total) Date of Name of Representative Establishment Website Address (Head office) No. of fostered companies for the recent three years *2017~2019 Whether to make direct investment in startup □ Yes □ No teams or not Whether to have Korean □ Yes □ No managers or not
Details of main supports The maximum number of 15 companies companies you can foster 3 Contact information Name Position Duties E-mail Telephone No.
- 4 - Attachment 4 Statement of program expense breakdown (English)
｢Global Startup Academy in 2020｣ Statement of Global Accelerating Program Expenses
Amount Amount Category Items Ratio (%) Remarks (USD) (KRW)
Labor cost
Sub Total Airfare & accommodation expenses for dedicated personnel Sub Total
Program operating expenses
Sub Total
...
Sub Total Operating expenses Sub Total
Others
Sub Total Profit margin Total (Proposed Amount)
* Calculate expenses based on fostering 15 Korea startup teams ** Items can be added or changed *** Office space will be provided for free of charge.
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