Hyderabad, June 3 (KNN) South Korea has called upon Indian start-ups to participate in in the K-Startup Grand Challenge 2017 backed by the Korean Government for which they will receive USD 12,000 for living expenses over their four month stay.

The K-Startup Grand Challenge 2017  is  a global competition for tech start-ups backed by the Korean government.

Promoted by the National IT Industry Promotion Agency, a non-profit governmental organisation of the Republic of Korea, the competition will also give start-ups a chance to explore business possibilities with Korean corporates.

According to a media report, the winners will get a chance to participate in a government-backed accelerator programme in Korea. It will open up business opportunities for start-ups by helping them explore the Korean market. And it will give them a foothold to enter the Asian market.

As many as 50 start-ups will receive USD 12,000 for living expenses over their four-month stay in Korea. Of these, 25 will get a grant of USD 27,000 each at the Demo Day.

The deadline for submitting applications has been extended to June 14 from June 6.