India-Korea Startup Hub Launched
[Press
Release dated 28 February 2019]
India Korea Business Symposium was hosted
by Invest India and Korean Chamber of Commerce
and Industry (KCCI) in Seoul on 21st Feburary,
2019.The Symposium was organized to felicitate the Korean business community on
their success in India and to present more opportunities for Korean business in
India.
Prime Minister of India, Narendra Modi, addressed the business
gathering on the way ahead to further strengthen bilateral
ties between India and the Republic of Korea. Over 400 Korean business leaders,
which included corporate groups like CJ Group, Hyundai, Young one Corporation, Samsung, LG, Lotte
Group, SK Group and Hyosung were present on this occasion.
To further strengthen
the bilateral ties between India and Republic of Korea, Prime Minister, Narendra
Modi, launched the India-Korea Startup Hub and Startup Grand Challenge. The Hub
is hosted on the Startup India digital platform, the world’s
largest virtual incubator with over 300,000 registered startups and aspiring entrepreneurs.
The Hub will enable access to resources for market entry and innovation exchange
between India and the world.
The Startup Grand Challenge, on the India-Korea Startup Hub,
will channelize the entrepreneurial capacity between Indian and Korean Startups
to work together and build solutions for the challenges facing the world. Initial
challenges will be focussing on issues across the themes
of Credit Rating, Predictive Analytics, Fraud Detection, Cyber Security, Primary/Secondary/Tertiary Healthcare. The State Bank of India
and Mahindra Group of India will be mentoring, providing pilot project opportunities,
and financial support of upto USD 50,000 to the winners.
The applications for the Startup Grand Challenge are live on
www.startupindia.gov.in/korea.