10X Announces New Partnership To Accelerate Korean Startups
Today, 10X announced a new partnership with the Korea Institute of Startup and Entrepreneurship Development (KISED) and The Ministry of SMEs and Startups (MSS). Named the Global Acceleration Program for Startups (GAPS), the five-month-long program aims to help startups in Seoul through educational content, customized mentorship, and tailored meetings to explore partnerships with Silicon Valley-based organizations. This supports KISED’s and MSS’s efforts in assisting thousands of startups in Korea with business acceleration and global expansion.
The hybrid program, which kicks off in April, will have two phases. The first phase will be delivered virtually through a series of online workshops, 1:1 mentorship sessions, and keynote presentations, and the second phase will be delivered as onsite training in Silicon Valley. Startups will be matched with a dedicated mentor who has expertise in their respective industry to provide best-in-class coaching to accelerate their business growth. The program will conclude with a pitch event.
10X has in-depth expertise in training over 1,600 founders across 5 continents, as well as experience supporting Korean, Taiwanese, and Japanese governments in their startup initiatives. As it pertains to the GAPS program, 10X will focus on delivering the following services:
Connect founders with the Silicon Valley ecosystem, including investors, customers, and partners
Validate business expansion opportunities through direct contact with targeted customers
Teach founders how to best localize their businesses to scale to the US
Participating founders will have direct exposure to the Silicon Valley ecosystem where they will connect with influential founders, corporate executives, and venture capitalists, all of which have a proven track record of building multi-million dollar businesses and have deployed billions of dollars into some of the hottest startups in the world.
10X CEO Klaus Wehage says:
“We are proud to have been chosen to support Korean startups in their plans to expand their businesses to the US. Our team has years of experience working with international founders to guide them in navigating cultural differences, reaching product/market fit, and validating market opportunity. With the GAPS program, we look forward to working with some of the most innovative startups from Korea.” - 10X CEO Klaus Wehage
Program Announcement links:
The deadline for submission is on 31 March 2021 at 6:00 PM (Korean Standard Time) . Apply here.
It is worth noting that 10X is writing a book on international expansion. They have crafted coveted strategies and frameworks based on interviews with executives from big tech companies like Google, Salesforce, Amazon, Slack, Microsoft, and more. The book is slated to be published in 2022, so watch out for it.