We are recruiting information and communications technology (ICT) startups and venture companies to grow with our global accelerator in 2021.

The Ministry of Science and ICT (Minister Choi Ki-young) selected six accelerators to participate in the 2021 K-Global Accelerator Development Project, and began recruiting startups and venture companies to join the global market from May 10th, who will receive mentoring, commercialization and technical support, initial investment, networking, and demo days from the selected accelerators over the next five to six months.

The six accelerators selected this time are Seoul National University Technology Holdings, CNT Tech, NP15 Partners, Y&Archer, Yozma Group Korea, and K Accelerator, and each accelerator plans to recruit and support approximately eight startups and venture companies.

The 'K-Global Accelerator Development Project' is a project that supports the overall acceleration process, including the discovery, development, and investment attraction of promising ICT startups and venture companies, to strengthen the global capabilities of accelerators specializing in the ICT field.

This project will be carried out from 2014 to 2020Over the past seven years, up to 2020, a total of 39 accelerators were selected and supported, and through the accelerators, 322 promising information and communications technology (ICT) startups and venture companies were discovered and nurtured during the same period.

The selected accelerators will utilize KRW 300 million in government subsidies and KRW 100 million in their own funds to strengthen their capabilities as global accelerators through activities such as participation in overseas startup conferences and discovery and cooperation with overseas partners, which are necessary for the global expansion of startups and venture companies possessing innovative ICT technologies.

Additionally, the accelerator provides initial investments of at least 150 million won in startups and venture companies, separate from operating expenses, and also supports the attraction of follow-up investments from angel investors, venture capitalists, and others.

Meanwhile, the K-Global Accelerator project will expand the scope of startups and venture companies nurtured by the accelerator from the existing prospective entrepreneurs and early-stage startups (within 3 years) to startups and venture companies within 7 years starting this year in order to increase global performance such as attracting overseas investment. Selected startups and venture companies will also be provided with the benefits of various overseas investment support projects, such as participation in the Born2Global Center's global startup roadshow and K-Global@ (IR, export and investment consultation meeting) promoted by the National IT Industry Promotion Agency and KOTRA.

Lee Seung-won, Director General of the Ministry of Science and ICT's Information and Communication Industry Policy Bureau, said, "Through the government's ongoing K-Global Accelerator project, we plan to strengthen the global support capabilities of ICT-specialized accelerators and actively support the high growth and overseas expansion of ICT startups and venture companies, thereby revitalizing the domestic ICT startup ecosystem."