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Laserpas, an aerial power line inspection company, has received an official invitation to participate in the K-Startup Grand Challenge 2018 (KSGC). In August, the Company will begin an accelerated startup process that includes personal mentoring and support from the Korean government. Throughout the next 3.5 months, the Laserpas team will establish a company and make connections in Korea.
The challenge began in May when companies began submitting the documents to enter the competition. In the 2017 Challenge, 1515 teams from 118 countries around the world submitted documents. This year’s challenge will bring in 80 top-tier tech startups from all over the world and provide the top 40 winners with full financial support for their business development in Asia during 2019.
Although the monetary help from the competition is a huge benefit, the competition itself offers keys to some vital doors throughout Korea and all of the Asian region.
In general, Korea offers pivotal opportunities to startup companies working with technology. Large corporations in the country are not only accepting of innovative startup ideas but actively searching for new ideas to usher in the future. Laserpas’s mentor will help the company make connections within tech industry giants such as Samsung, LG, and Hyundai.
Mantas Vaskela Laserpas CEO has stated, “We see this as the perfect stepping stone into a market that is waiting for a solution like ours. Being selected to participate in this prestigious competition, shows that we have technology and solutions that set us apart and will help us gain recognition in not only the Asian market but the whole world.”