Blockcrafters (co-representatives Park Soo-yong and Song-hoon), an accelerator specializing in the 4th industrial convergence field, announced on the 6th that it has selected companies to participate in the 3rd phase of the global accelerator program’Blockcrafters Challenge X'(hereinafter referred to as’Challenge X’).
Challenge X is an accelerating program that Blockcrafters started in 2019 to foster start-ups in the 4th industrial convergence field. It helps promising domestic startups grow smoothly and advance into the global market through initial investment and a 16-week childcare program. Prior to this, a total of 17 promising startups went through the first and second programs, attracting investment and signing global partnerships.
As for the 3rd Challenge X participants, 6 companies were selected in the fields of fintech, content, B2C consumer goods, including blockchain. Encryption processing and encryption key management solution’TEware’, open market bit sharing platform’work school’ for hip-hop artists, mediation platform’Support’ such as video production staff, vehicles, equipment and location, fitness manager helping exercise habits These include’Bunfit’,’Clumatic’, a non-face-to-face cosmetic experience platform, and’Palpal’, a running coaching audio.
These companies will choose to participate in one of a market verification program prepared by Blockcrafters and a global entry preparation program. First, the market verification program proceeds through digital marketing to produce and test the minimum requirement product (MVP), set initial customer groups, and verify the global market. In the case of the global advancement preparation program, we cooperate with global accelerator partners to support global mentor matching, localization preparation, and overseas partner matching.
In addition, Blockcrafters direct investment of at least 30 million won to all participating companies, and specialized field expert mentoring and seminars, public relations support, user experience (UX) and design consulting, digital marketing consulting, meeting space support, partnership connection, etc. It also provides benefits.
Blockcrafters plans to hold demo days and investor networking events to introduce the service and program performance of participating companies in the future to help them attract investment and prepare for global expansion.
Blockcrafters Co-CEO Park Soo-Yong said, “This 3rd Challenge X will focus on advancing the business of participating companies and accelerating global advancement. “We will focus on discovering and fostering global K-startups that will be held.”
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.