Application

Global Membership Application

Introduction

Shinhan Financial Group, is a leader in Korean financial services sector, with pioneering technology and corporate culture. Shinhan specifically operates ‘Innovation Growth Platform’ that fosters and supports innovative technology startups that have the potential to become industry leaders on the global market. Shinhan “Innovation Growth Platform” network is to build impactful cross-border partnership with global startup ecosystem players, creating a network of accelerators, investors, government institutions, NGOs etc. that provide necessary support and value to budding startups to grow and expand their technologies and businesses.

Incheon Startup Park, one of ventures operated through Shinhan’s ‘Innovation Growth Platform’, is a Korea-based single growth hub for all the startup ecosystem players: from startups in all stages of growth, to accelerators, investors, and policymakers. Situated in Songdo, Incheon, it supports development and growth of most innovative technologies, including biotechnology and healthcare, and promotes its commercialization and global expansion.

Selection Criteria and Target Sectors

The program is designed to target technological startups with the most potential of growing their presence on the Korean market.
We are looking for teams who fulfill the following criteria:

□ Technology-based startups that have prototype or product/service and are at an initial investment stage (pre-series A).

    • The fourth industrial revolution technology: Big data, AI, Blockchain, IoT, Smart city, and Remote work
    • Biotech: First-in-class medicine development, Raw and subsidiary materials, and Digital healthcare
  • □ Global startups: startups with an established presence in their home country, currently looking to expand to Korea.

□ Startups that have been established within that past 7 years

Process

□ Application Period: August 10th – 30th

    • We accept application from startups around the world during this time.

□ Application Review: August 31st – September 7th

    • The experts of foreign startup ecosystem and Korean accelerators will review all applications.

□ Global On-line Auditions: September 18th – 22nd

    • Based on application review, the organizers of the Shinhan will select 100 teams from around the world to interview by online via web conferences. 50 teams total will be selected by accelerating company.

□ Final Result Announcement: September 30th

Application guide

□ How can Apply

    • Clicking the button below as ‘Apply for Global membership’
    • Fill out Application form
    • Required documents attachment

□ Required documents

    • Pitch deck (Business plan)
      – Maximum 15 pages
      – Customer need & Value Proposition (Problem & Your Solution)
      – Technology & IP
      – Market Overview
      – Market Opportunity (where you fit in the value chain)
      – Products or Services – Product roadmap
      – Competitive landscape
      – Go-to-market strategy
      – Team & Management
      – Financials
      – Deal Terms & Lead Investor(s)
    • A letter of recommendation from a startup ecosystem representative
      * Extra Points will be given for those startups that submit a letter of recommendation from a recognized institution in the startup ecosystem (a VC, accelerator, government instituion NGO, etc.). The recommendation is an additional way for providing credibility for future investment screening process. If you cannot provide one currently, it doesn’t discredit you, any any means, in the selection process.
      * Download (by clicking the button below) and fill out the recommendation form, and submit it as an attachment in the application.

Common Benefits

□ Free Co-working space (Incheon Startup Park, Tower I)

Selected teams will be provided with project space including equipment for product / service production and development, testbeds, as well as an incubating infrastructure at the Incheon Startup Park.

□ Global Accelerating Program

Maximum 50 teams will be selected to join a Accelerating program during which they will receive:

    • 1-on-1 mentors
    • information sessions on Korean and Asian business culture, as well as specific business topics (e.g. patents, accounting, regulations, tax laws, etc.)
    • access to regular networking sessions
    • exposure to Korean major companies

□ Additional Investments

    • The accelerators may make equity investments in the most promising startups. Startups may have access to other VCs and investors who may choose to invest.
    • Customized Funding opportunities from Shinhan Financial Group. Provide Exclusive Investment Fund US $40M.

Biotech Support Package by Celltrion

Thema 1. Support of Verification experiment for First-in-class medicine development –Accelerating program for Open innovation by Integration of R&D capability

    • Target startup: From Completion of in vitro PoC verification to before a clinical trial
    • Program (1) Specialized consultation of R&D / Clinical / Permission field
      Support per each startup: Maximum 5 months / US $17K (in kind)
    • Program (2) Support for CDO or CMO service
      Support per each startup: Maximum US $1.26M (in kind)

Thema 2. Support for Localization development of Raw and subsidiary materials

    • Target startup: Possession of technology about Raw and subsidiary materials and Completion of Quality certification
    • Program (3) Specialized consultation of R&D / manufacturing field
      Support period per each startup: Maximum 5 months / US $17K (in kind)
    • Program (4) Support of Verification experiment for Raw and subsidiary materials technology
      Support per each startup: Maximum US $84K (in kind)

Thema 3. Support for Verification experiment of Digital healthcare – Build a Health village in Songdo smart city

    • Target startup: Possession of technology about Digital management platform of disease or The fourth industrial revolution such as AI and Big data
    • Program (5) Support for Digital Healthcare solution business

Visa & Residence Support

As the South Korean government supports the improvement in Visa regulations for foreign startups and entrepreneurs through the new OASIS program, Visa-related issues will be taken care of by the Korean government.
Please refer more details: http://www.oasisvisa.com/about.html

Also, various services are available for overseas startups such as administrative support, housing and so on.

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For more information, please contact us
apply@mediau.kr / +82-32-228-1712