MSS Notice No. 2021–015
｢Global Startup Academy in 2021｣ Recruitment for Global Accelerators
We are recruiting accelerators with capabilities for overseas expansion support, who will be dedicated to the “Global Startup Academy in 2021” to foster promising startup teams in the fields of D·N·A, as follows.
We look forward to interest and participation of global accelerators who will be residing in Korea to participate in recruiting and fostering excellent Korean startups. January 12, 2021
Minister of SMEs and Startups (MSS)
1. Overview
□ Recruiting Global Accelerators
◦ (Purpose) Support Korean startups in the fields of D·N·A* to enter global markets through the global accelerator's intensive fostering course in Korea
*(D‧N‧A fields) Data, Network, Artificial Intelligence
◦ (Scale) About 5 global accelerators
◦ (Duties) Selection and fostering of startups, operation of demonstration day, etc.
◦ (Period) For 1 year and 10 months in total from ‘March 2021 to December 2022’
* The operating period is up to 3 years (2+1), the agreement is signed on a yearly basis, and an additional year can be extended through annual evaluation of the operating performance for the initial two years.
- 1 - * The support volume is subject to change according to annual evaluation and budget situation.
◦(Budget) KRW400 million per accelerator (About USD 360,000)
* Including fostering fee of KRW33 million per startup (About USD 30,000)
* About 12 (preliminary) startups with less than 3 years of business history in D.N.A fields will be fostered.
- (Breakdown) Accelerating program operation expense, domestic residence cost, etc.
2. Requirements
□ Candidates
◦ A company ranks top 50 (as of announced date, January 12) or higher (as of closing date January 27) 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 as of announced date
□ Conditions
◦ At least two accelerating experts from an accelerator shall reside in Korea for six months each year during the contract period (from July to December for 2021) to organize and operate fostering programs of Global Startup Academy.
3. Roles of Global Accelerator
- 2 - □ Support global growth of Korea startup teams in D.N.A field
◦ Participate in the evaluation for selection of Korea startup teams in D.N.A field
◦ Establish detailed achievement goals for start-up teams (around 12 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
* The operating method is subject to change depending on the COVID-19 situation.
□ Performance management and reporting
◦ Weekly & monthly report on startup team fostering status, progress of programs, etc., and final outcome report after completion of project (Year 1: to December 2021, Year 2: to December 2022)
* The accelerators shall faithfully respond to other material requests from the MSS. 4. Application & Registration
- 3 - □ Notice(Application) period: From January 12 (Tue.) to January 27 (Wed.) 5 p.m., 2021
□ How to apply: Submit an email to ([email protected])
□ 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 ①Monthly schedule (for 10 months from March 2021 to December 2021)
② Network (partners, investors & etc.) 5 Accelerating Program Proposal and plan to utilize the list of experts by field ③Plan for accelerating programs ④Details of main supports, etc. ⑤Plan 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
- 4 - ◦ Comprehensive evaluation on acceleration capabilities such as networks including global companies and investors to support global growth of the Korea startup teams in D.N.A field, and plans to support and manage Korea startup teams
□ Final selection
◦ Select within the top five companies in the order of high score based on evaluation
□ Roll-out schedules (draft)
Proposal review and Notification of selection Public notice for recruiting presentation evaluation and conclusion of global accelerators (online) agreement Jan. 12, 2021 ~ Jan. 27, Feb. 2, 2021 Feb. 2021 2021 Operating manager + Ministry of SMEs and Startups Operating manager → Accelerators Accelerators Outcome reporting and Recruitment and Selection Program operation performance evaluation of Startups Feb. 2022 Mar. 2021 ~ Dec. 2021 Feb. to Mar. 2021 Responsible institution + Operating manager + Accelerators Operating manager + Accelerators Accelerators
* 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
□ +82-44-410-1684, [email protected] +82-44-410-1683, +82-44-410-1682
- 6 - Attachment 1 Accelerator Ranking
[Based on Crunchbase (investment) as of January 12, 2021] NO. Organization Name Country Investments 1 Y Combinator USA 3,279 2 Techstars USA 3,106 3 500 Startups USA 2,422 4 SOSV USA 1,826 5 MassChallenge USA 1,340 6 plug and play USA 1,077 7 Start-Up Chile Chile 875 8 Startupbootcamp UK 537 9 Alchemist Accelerator USA 515 10 Creative Destruction Lab Canada 510 11 Internet Initiatives Development Fund (IIDF) Russia 437 12 HAX China 416 13 Dreamit Ventures USA 280 14 StartX (Stanford-StartX Fund) USA 277 15 DMZ Canada 266 16 Lanzadera Accelerator Spain 257 17 IndieBio USA 243 18 Entrepreneurs Roundtable Accelerator USA 242 19 Microsoft Accelerator USA 237 20 EIT Digital Accelerator Belgium 236 21 Acceleprise USA 234 22 Entrepreneur First UK 230 23 Chinaccelerator China 224 24 Techstars New York City Accelerator USA 219 25 Wilco France 202 26 Startup Wise Guys Estonia 197 27 Revolution’s Rise of the Rest Seed Fund USA 195 28 Techstars Boston Accelerator USA 195 29 Boost VC USA 179 30 Antler Singapore 174 31 AngelPad USA 172 32 Bethnal Green Ventures UK 163 33 Techstars Boulder Accelerator USA 162 34 Boomtown Accelerators USA 158 35 Quake Capital Partners USA 156 36 SparkLabs Accelerator Korea 155 37 Capital Factory USA 153 38 Microsoft Accelerator Beijing China 152 39 Rockstart The Netherlands 151 40 Oasis500 Jordan 144 41 Starve Ups USA 143 42 Berkeley SkyDeck USA 141 43 JumpStart USA 138 44 Future Fifty UK 138 45 Amplify.LA USA 137 46 Mucker Capital USA 137 47 MedTech Innovator USA 135 48 ASU Venture Devils USA 131 49 MIT delta v USA 130 50 gener8tor USA 127
- 1 - Attachment 2 Information for Accelerators
Information on the recruitment for global accelerators for ｢Global Startup Academy in 2021｣ 1 Overview
Program title Global Startup Academy in 2021
Support Korea startup teams in D.N.A field to enter global markets through Purpose the global accelerator's intensive fostering course in Korea
A company ranks top 50 (as of announced date, January 12) or higher (as of closing date January 27) 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 as of announced date
At least two accelerating experts from an accelerator shall reside in Korea for Conditions six months each year during the contract period (from July to December for 2021) to organize and operate fostering programs of Global Startup Academy.
Up to KRW 400 million (USD 360,000) per accelerator [KRW 33 million (USD Budget 30,000) per startup team*] Period For 1 year and 10 months in total from ‘March 2021 to December 2022’
Organize and operate customized programs for Korea startup teams in D.N.A 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 12 Korea startup teams will be matched for each accelerator. assigned Roll-out schedules (draft)
Proposal review and Notification of selection Public notice for recruiting presentation evaluation and conclusion of global accelerators (online) agreement Jan. 12, 2021 ~ Jan. 27, Feb. 2, 2021 Feb. 2021 2021 Operating manager → Operating manager + Ministry of SMEs and Startups Accelerators Accelerators Outcome reporting and Recruitment and Selection Program operation performance evaluation of Startups Feb. 2022 Mar. 2021 ~ Dec. 2021 Feb. to Mar. 2021 Responsible institution + Operating manager + Accelerators Operating manager + Accelerators Accelerators
* The above schedule can be adjusted according to circumstances.
- 2 - 2 Accelerator Selection Method
Selection scale About five 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 Wednesday 5 p.m. on January 27, 2021 (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 Required the program (6 months) Documents 4. Statement of program cost breakdown (Use the form provided) 5. Accelerating Program Proposal - Monthly schedule (for 10 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
｢Global Startup Academy in 2021｣ 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 *2018~2020 Whether to make direct investment in startup □ Yes □ No teams or not Whether to have Korean □ Yes □ No managers or not
- 4 - Attachment 4 Statement of program expense breakdown
｢Global Startup Academy in 2021｣ Statement of Global Accelerating Program Expenses
Amount Amount Category Items Ratio (%) Remarks (USD) (KRW)
Korea program Staff(6months) Labor cost International Staff Sub Total Airfare & Airfare
accommodati Domestic(Korea) travel expenses on expenses for dedicated Accommodation expenses personnel Meal expenses Sub Total
Program management Program design Program (curriculum and program planning) operating Licensing of tech/tools
expenses Internal or External experts Workshop (Food, experts, accommodation, etc) Sub Total
Logistics
Operating Marketing and Events expenses Miscellaneous Fees (such as office suppliers. Printing, etc.) Sub Total
Accounting audit expenses Others
Sub Total Total (Proposed Amount)
* Calculate expenses based on fostering 12 Korea startup teams ** Items can be added or changed *** Office space will be provided for free of charge.
- 5 -