South Korea’s Ministry of SMEs and Startups said it will announce the Global Startup Project for Everyone and launch the K-Founder Fund at an event in Silicon Valley on July 24. The initiatives aim to support overseas Koreans and international students pursuing startups.

The ministry plans to select 80 pre-startup teams and startups across four hubs in Silicon Valley, New York, Singapore, and India. It will provide mentoring, incubation, and startup activity funds.

The fund, expected to reach about 100 billion won (US$68 million), will be run by Sendbird co-founder Kim Dong-shin.

Sendbird, a South Korea-founded business messaging software company, will work with founder communities, including United Korean Founders, on networking and investor relations events.

Kim has operating and fundraising experience from Sendbird, which became a unicorn and raised US$100 million in a series C round.

🔗 Source: Chosun Daily