• The Korea-Africa Foundation is inviting South Korean startups to enter Egypt through the Global Acceleration Support Program.
• The program offers access to acceleration programs, funding, and resources to help startups expand into foreign markets.
  Eight startups specializing in aging-related technologies like healthcare, biotech, and beauty tech will be selected for support.

Korea-Africa Foundation

What happened? The Korea-Africa Foundation (KAF) announced a new program to support South Korean startups wishing to enter the Egyptian market. 

This is under the “Global Acceleration Support Program” which aims to assist startups with potential. This is through providing access to local and acceleration programs as well as funding to support their entry into foreign markets to help them to expand and grow globally. 

Who is behind this? The program is led by the Korea Africa Foundation and managed by the Korean Ministry of SMEs and Startups. Additionally, it is operated by the Korea Institute of Startup & Entrepreneurship Development. 

Accelerator

What’s in it for the participants? The selected companies will benefit from business acceleration programs held both in Korea and in the target country. Additionally, they will receive funding to establish local entities, secure intellectual property rights and access resources to expand globally.

Eight companies will be selected based on their technologies related to aging industries, such as healthcare, biotechnology, and beauty technology.

Who are they?  KAF was established in June 2018 as an affiliation of the Ministry of Foreign Affairs of Korea.

KAF aims to serve as a platform to strengthen exchange and cooperation with African countries. This is to allow Korean youth, businesses and organizations to explore opportunities in Africa and tap into its potential.