2018 Samsung Global Startup Accelerator
Global Program for Early-Stage Indian Startups
18th June – 18th August, 2018 (APPLY BEFORE 3rd June For Participation)
SAMSUNG GLOBAL and IMACX STUDIOS, IIIT-B will be presenting this acceleration program for the benefit of early-stage Indian startups
India has been extremely active in creating a healthy startup ecosystem, and the growth in the number of startups is increasing year on year. The advance in technology is making it easy for entrepreneurs to develop their business. However a large percentage of Indian startups fail within the first five years. Many startup ecosystem players believe that the most common reason for failure is lack new technologies or unique business models. Other reasons cited for failure include lack of skilled workforce and inadequate formal mentoring.
In this context, we are pleased to announce the 2018 SAMSUNG Global Startup Acceleration Program, launched for the sustainable growth of early-stage startups where it will be conducted simultaneously in 5 countries around the world – India, Indonesia, Malaysia, Nepal and South Africa.
This program is conducted as a part of Corporate Social Responsibility from Samsung Electronics where Samsung experts and mentors would help support the sustainable growth of local entrepreneurs in early stage.
Selected applicants will receive mentoring in various business areas and participate in a bootcamp to enhance essential skills. Participants will also have the opportunity to pitch their business ideas, and top selected business models will receive extended support through local incubators, be invited to the Samsung Entrepreneurship Awards, and attend global conferences.
- Application: 9th May – 3rd June, 2018
- Results Announcement: 17th June, 2018
(Total of 20-30 startups will be selected among the applicants)
- Online Mentoring: 18th June – 27th July, 2018
(20-30 selected startups will be matched with Samsung mentors and receive online mentoring before the bootcamp)
- Bootcamp & Pitch Day (at IIIT-B campus): 6th – 10th Aug, 2018
(5 days of intensive business mentoring including special classes highlighting examples of successful business expansion at Samsung, ex. Samsung Pay)
- Extended Support: 18th Aug, 2018 onwards
Startups can be either Registered or Unregistered, For-Profit or Not-for-Profit. Consequently, the Startup could be one of the following:
- Very Early-stage – A team with business model attempting to build a startup
- Early-stage Startups with less than 2 years of running experience
- Startups with over 2 years of running experience
- Selected applicants will receive online mentoring in various business areas
- Selected applicants will also be provided with transportation and accommodation, in order to enable them attend the 5-day bootcamp at IIIT-Bangalore Campus
- Selected applicants will be invited to participate in a 5-day intensive bootcamp to enhance essential skills. The bootcamp will have Mentors (Business & Technology) from Samsung South Korea
- Participants will also have the opportunity to pitch their business ideas on the last day of the 5-day bootcamp
- Top 3 business models selected during the Pitch Day will be awarded Cash Prize (1st place – $3,000, 2nd place – $2,000, 3rd place – $1,000) and receive extended support through the local incubator
- Global market access through Samsung’s GTM teams, if appropriate
- Top 3 business models selected will have the opportunity to compete in a follow-up conference with top business models selected in Indonesia, Malaysia, and South Africa.
- Select Startups will also be invited to Samsung Customer / Partner facing events, Samsung Entrepreneurship Awards & Global Conferences
- Investor Connects & Business Support Services Assistance
- Extended Incubator / Accelerator Support to Select Startups
If you are a (prospective) founder of early-stage startup who need help in areas such as design, marketing, R&D, business operations and
Would like to gain expertise directly from a world leader – Top 25 most valuable brands, electronics & software giant, leader in innovation (patents) among others:
Don’t Fail to Submit your application by Sunday, 3 June 2018.
You may also find additional details at Samsung’s Microsite and could also apply for this program at the link provided on that site.
For any queries, please contact Samsung Entrepreneurs (or) IMACX Studios.