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Amazon Web Services” to Participate in the Development of Korean Startups for the First Time

Division
Ministry of SMEs and Startups
Date
2020.09.21
Writer
MSS
File
Hit
62
Headline
- “Jungle Program” launched for cooperation with the Korean Ministry of SMEs and Startups-

□“Amazon Web Services” will newly participate in a program to develop Korean startups in collaboration with large global enterprises. “Google” and “NVIDIA” are already participating in such programs.

□ “Amazon Web Services” plans to support 30 Korean startups in the fields of e-commerce and FinTech, among others, with technology consulting and advancement into the global market.
The Korean Ministry of SMEs and Startups (hereinafter referred to as MSS, Minister Park Young-sun) will collaborate with “Amazon Web Services” and newly establish the “Jungle Program” to support the global advancement of Korean startups. The ministry announced that it will receive applications for participation in the program from startups from July 8 (Wednesday) to 31 (Friday).
 
* (Meaning of “Jungle”)① Encompasses the symbolic meaning of “really” and “global”
                                          ②Metaphorical of the “jungle” in the Amazon
 
The ministry is currently implementing programs in collaboration with global companies in order to promote the global advancement of Korean startups. In 2019, it newly established the “Window Program” in collaboration with Google for the latter to directly support the participating startups with technological and market consulting, as well as opening of new sales routes. The ministry then expanded the program from 60 participating companies to 80 this year as the favorable response and level of satisfaction of the startups with the program were high.

 
<Best Practices of the 2019 Window Program>
Best Practices
 
Bird Letter Co., Ltd. (CEO:Yang Seon-u, ranked the top among the first group of companies participating in the Window Program)
∙ Launched “Mad For Dance,” a clicker game of the finger touching method, with dance clubs of each era on the background
∙It boasted of new installation rate of over 600% and 78% of the total installation occurred overseas.
 
CatchItPlay Inc. (CEO:Choi Won-gyu, ranked top third among the first group of companies participating in the Window Program)
∙Launched app “Catch It! English” that enables learning various languages on the mobile
∙ Drew Series A investment worth KRW 3.5 billion and was selected as the third most popular app inside Japan’s Play Store
∙Freely provided it to supplement the learning gap because of COVID-19.
 
Thanks to the achievements made with the “Window Program,” the ministry is expanding collaboration with large enterprises this year. In May, it newly established “N&UP Program” with NVIDIA and is currently accepting applications from startups for 30 of them to participate in the artificial intelligence (AI) big data field based on graphics processing unit (GPU) hardware.
 
The new program to implement in collaboration with Amazon Web Services is expected to create new opportunities for Korean startups to merge the non-face-to-face distribution, payment, and contents business knowledge of Amazon in their business in the era of non-face-to-face transactions because of COVID-19.
 
Startups subject to the “Jungle Program” support are 30 startups with 3 or more years and 7 or less years of business experience in the fields of e-commerce, FinTech, smart logistics, and AI.
 
The ministry will provide funds of up to KRW 300 million for one year to the selected startups for their commercialization. It will further support those with excellent achievements made with funds of up to KRW 400 million for 2 years for follow-up research and development (R&D).
 
Amazon Web Services plans to provide 1:1 matching consulting of experts in its headquarters in each field, allow the use of its cloud, and helpopen new sales routes globally connected with Amazon.com.
 
<Overview of Jungle Program>
 
(Purpose)To support the technological scaling up and advancement into the global market of startups in the digital and online fields
 
(Target Startups)30 startups in fields using e-commerce, FinTech, smart logistics, and AI (with 3 or more and 7 or less years of business experience)
 
(Details of Support)Comprehensive support including funds (up to KRW 300 million) and support for technological upgrading, opening of new sales routes, and investment connection
 
(Application Period)Applications accepted online through the K-Startup Website (www.k-startup.go.kr) from July 8 until 6 p.m. on July 31, 2020
 
Startups hoping to participate in the Jungle Program should apply online from July 8 until 6 p.m. on July 31 through the K-Startup Website (www. k-startup.go.kr). The project is expected to be presented online through the Twitch channel on July 15. For details, check the announcement on the K-Startup Website.
 
The ministry plans to gradually expand its global collaboration programs to fields other than IT, such as bio and manufacturing, as demand for such programs is growing among startups.