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.

* 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

□ 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

□ Notice(Application) period: From January 12 (Tue.) to January 27 (Wed.) 5 p.m., 2021

□ How to apply: Submit an email to (global_ai@kised.or.kr)

□ Required Documents

No.

Required Documents

Form

1

Accelerator Application Form

Refer to 【Attachment 3】

2

Accelerator introduction materials

Any form (brochure, PR materials, & etc.)

3

Resume of dedicated personnel*

* Personnel who will be 100% dedicated to this task during the period of programs

(6 months)

Any form

4

Statement of program cost breakdown

Refer to 【Attachment 4】

5

Accelerating Program Proposal

Any form

①Monthly schedule (for 10 months from March 2021 to December 2021)

② Network (partners, investors & etc.) 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

◦ 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

<Evaluation criteria and main contents (draft)>

No.	Evaluation criteria	Main contents
1	Program Excellence	Performance record, specificity and differentiation of accelerating programs
2	Scale and effectiveness of network	Excellence of global partner networks and personnel in Korea
3	Support and management of startup teams	Concreteness and adequacy of the plan for support and management of Korea startup teams
4	Program operation expenses	Adequacy of organizing and calculating expenses for accelerating programs

□ Final selection

◦ Select within the top five companies in the order of high score based on evaluation

□ Roll-out schedules (draft)

Public notice for recruiting global accelerators	□	Proposal review and presentation evaluation (online)	□	Notification of selection and conclusion of agreement
Jan. 12, 2021 ~ Jan. 27, 2021		Feb. 2, 2021		Feb. 2021
Ministry of SMEs and Startups		Operating manager → Accelerators		Operating manager + Accelerators
				□
Outcome reporting and performance evaluation	□	Program operation	□	Recruitment and Selection of Startups
Feb. 2022		Mar. 2021 ~ Dec. 2021		Feb. to Mar. 2021
Operating manager + Accelerators		Accelerators		Responsible institution + Operating manager + Accelerators

* The above schedule can be adjusted according to circumstances.

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, global_ai@kised.or.kr

+82-44-410-1683,

+82-44-410-1682

Attachment 1		Accelerator Ranking

[Based on Crunchbase (investment) as of January 12, 2021]

NO.	Organization Name	Country	Investments	Exits
1	Y Combinator	USA	3,279	314
2	Techstars	USA	3,106	255
3	500 Startups	USA	2,422	250
4	SOSV	USA	1,826	46
5	MassChallenge	USA	1,340	92
6	plug and play	USA	1,077	88
7	Start-Up Chile	Chile	875	24
8	Startupbootcamp	UK	537	29
9	Alchemist Accelerator	USA	515	32
10	Creative Destruction Lab	Canada	510	18
11	Internet Initiatives Development Fund (IIDF)	Russia	437	1
12	HAX	China	416	6
13	Dreamit Ventures	USA	280	27
14	StartX (Stanford-StartX Fund)	USA	277	36
15	DMZ	Canada	266	19
16	Lanzadera Accelerator	Spain	257	2
17	IndieBio	USA	243	2
18	Entrepreneurs Roundtable Accelerator	USA	242	19
19	Microsoft Accelerator	USA	237	38
20	EIT Digital Accelerator	Belgium	236	27
21	Acceleprise	USA	234	13
22	Entrepreneur First	UK	230	13
23	Chinaccelerator	China	224	4
24	Techstars New York City Accelerator	USA	219	33
25	Wilco	France	202	21
26	Startup Wise Guys	Estonia	197	3
27	Revolution’s Rise of the Rest Seed Fund	USA	195	10
28	Techstars Boston Accelerator	USA	195	33
29	Boost VC	USA	179	20
30	Antler	Singapore	174	—
31	AngelPad	USA	172	35
32	Bethnal Green Ventures	UK	163	1
33	Techstars Boulder Accelerator	USA	162	40
34	Boomtown Accelerators	USA	158	4
35	Quake Capital Partners	USA	156	4
36	SparkLabs Accelerator	Korea	155	5
37	Capital Factory	USA	153	16
38	Microsoft Accelerator Beijing	China	152	5
39	Rockstart	The Netherlands	151	10
40	Oasis500	Jordan	144	—
41	Starve Ups	USA	143	25
42	Berkeley SkyDeck	USA	141	9
43	JumpStart	USA	138	10
44	Future Fifty	UK	138	42
45	Amplify.LA	USA	137	15
46	Mucker Capital	USA	137	12
47	MedTech Innovator	USA	135	7
48	ASU Venture Devils	USA	131	—
49	MIT delta v	USA	130	6
50	gener8tor	USA	127	5

NO.	Organization Name	Country	Exits	Investments
1	Y Combinator	USA	314	3,279
2	Techstars	USA	255	3,106
3	500 Startups	USA	250	2,422
4	MassChallenge	USA	92	1,340
5	plug and play	USA	88	1,077
6	SOSV	USA	46	1,826
7	Future Fifty	UK	42	138
8	Techstars Boulder Accelerator	USA	40	162
9	Microsoft Accelerator	USA	38	237
10	StartX (Stanford-StartX Fund)	USA	36	277
11	AngelPad	USA	35	172
12	Techstars New York City Accelerator	USA	33	219
13	Techstars Boston Accelerator	USA	33	195
14	Alchemist Accelerator	USA	32	515
15	Startupbootcamp	UK	29	537
16	Dreamit Ventures	USA	27	280
17	EIT Digital Accelerator	Belgium	27	236
18	Techstars Seattle Accelerator	USA	27	125
19	Starve Ups	USA	25	143
20	Start-Up Chile	Chile	24	875
21	Founder Friendly Labs	USA	24	121
22	NUMA	France	22	126
23	Techstars Chicago	USA	22	114
24	Microsoft Accelerator Bangalore	India	22	120
25	Wilco	France	21	202
26	HIGHLINEvc	Canada	21	63
27	Boost VC	USA	20	179
28	DMZ	Canada	19	266
29	Entrepreneurs Roundtable Accelerator	USA	19	242
30	Creative Destruction Lab	Canada	18	510
31	NTT DOCOMO Ventures	Japan	18	109
32	Capital Factory	USA	16	153
33	Sandbox Industries	USA	16	83
34	Novartis	Switzerland	15	45
35	Amplify.LA	USA	15	137
36	Microsoft ScaleUp Tel Aviv	Israel	15	111
37	H-FARM	Italy	14	87
38	Ann Arbor SPARK	USA	14	94
39	ACE Startups	Brazil	14	110
40	Entrepreneur First	UK	13	230
41	Acceleprise	USA	13	234
42	Google Launchpad Accelerator	USA	13	117
43	Extreme Venture Partners	Canada	13	70
44	Texas Venture Labs	USA	13	83
45	Summer@Highland	USA	13	50
46	FounderFuel	Canada	12	86
47	Mucker Capital	USA	12	137
48	Healthbox	USA	11	96
49	REACH	USA	11	91
50	Elemental Excelerator	USA	10	62

[Based on Crunchbase (Exits) as of January 12, 2021]

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

Purpose

Support Korea startup teams in D.N.A field to enter global markets through the global accelerator's intensive fostering course in Korea

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.

Budget

Up to KRW 400 million (USD 360,000) per accelerator [KRW 33 million (USD 30,000) per startup team*]

Period

For 1 year and 10 months in total from ‘March 2021 to December 2022’

Program structure

Organize and operate customized programs for Korea startup teams in D.N.A field

* BM, mentoring for product (service) advancement, discovering and matching partners or investors for global sales channel or investment, etc.

Number of startups to be assigned

Around 12 Korea startup teams will be matched for each accelerator.

Roll-out schedules (draft)

Public notice for recruiting global accelerators	□	Proposal review and presentation evaluation (online)	□	Notification of selection and conclusion of agreement
Jan. 12, 2021 ~ Jan. 27, 2021		Feb. 2, 2021		Feb. 2021
Ministry of SMEs and Startups		Operating manager → Accelerators		Operating manager + Accelerators
				□
Outcome reporting and performance evaluation	□	Program operation	□	Recruitment and Selection of Startups
Feb. 2022		Mar. 2021 ~ Dec. 2021		Feb. to Mar. 2021
Operating manager + Accelerators		Accelerators		Responsible institution + Operating manager + Accelerators

* The above schedule can be adjusted according to circumstances.

2	Accelerator Selection Method
Selection scale		About five top-tier global accelerators
Considerations for evaluation		① Performance record, specificity and differentiation of accelerating programs ② Excellence of global partner networks and personnel in Korea ③ Concreteness, and adequacy of the plan for support and management of Korea startup teams ④ Adequacy of organizing and calculating expenses for accelerating programs
3	Proposal submission and deadline
Submission deadline		By Wednesday 5 p.m. on January 27, 2021 (based on Korean time)
Required Documents		* 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) 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		Submit an email to (global_ai@kised.or.kr)
Person in charge and contact		Hye-rim Ko Startup Cooperation Strategy Division | Program Manager global_ai@kised.or.kr

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)
Name of Representative					Date of Establishment
Website
Address (Head office)
No. of fostered companies for the recent three years *2018~2020
Whether to make direct investment in startup teams or not				□ Yes			□ No
Whether to have Korean managers or not				□ Yes			□ No
Expertise * Choose 2 from the following examples		<Examples> ① Deep Learning ② Manufacturing ③ Healthcare ④ Big data ⑤ Autonomous driving ⑥ Others		□ Priority 1:
				□ Priority 2:
				□ Priority 3:
2	Proposal Summary
Proposing company’s characteristics (performance)
Status of personnel in Korea (Career, expertise, etc.)				Example: Global Accelerating Program * Please state different features compared to other programs
Plan for accelerating programs
Details of main supports
The maximum number of companies you can foster				12 companies
3	Contact information
Name			Position	Duties		E-mail			Telephone No.

Attachment 4		Statement of program expense breakdown

｢Global Startup Academy in 2021｣ Statement of Global Accelerating Program Expenses
Category	Items	Amount (USD)	Amount (KRW)	Ratio (%)	Remarks
Labor cost	Korea program Staff(6months)
	International Staff
Sub Total
Airfare & accommodation expenses for dedicated personnel	Airfare
	Domestic(Korea) travel expenses
	Accommodation expenses
	Meal expenses
Sub Total
Program operating expenses	Program management
	Program design (curriculum and program planning)
	Licensing of tech/tools
	Internal or External experts
	Workshop (Food, experts, accommodation, etc)
Sub Total
Operating expenses	Logistics
	Marketing and Events
	Miscellaneous Fees (such as office suppliers. Printing, etc.)
Sub Total
Others	Accounting audit expenses
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.