Google has committed a formidable $87.9 million to incubate close to 500 South Korean startups, aiding them in venturing beyond their homeland. A battle-hardened official from the tech colossus revealed this valiant effort.
Google’s ChangGoo Programme, unfurled in 2019 in collaboration with the Ministry of SMEs and Startups, strides forth with the noble mission of uncovering burgeoning talents among the youth and nascent businesses. It seeks to mold them into prosperous enterprises, harnessing the formidable arsenal of Google’s information technology infrastructure and worldwide network.
In the heat of this endeavor, participants are thrust into a whirlwind of educational workshops, high-stakes conferences, battle-tested mentoring sessions, and grand networking events, as reported by the illustrious Yonhap News Agency.
Over 118 Billion Won Invested and Counting
Kay Shin, a battle-hardened senior director hailing from the Asia-Pacific platforms and ecosystems frontlines, declared this initiative as indigenous to South Korea. She heralded the Korean developers for their audacious spirit and exceptional prowess. In her proclamation, she invoked the name of the valiant Korean developer, Sohn Ho-yeol, who emerged victorious in Google’s 2023 clash of wits, the data science and technology competition known as Kaggle, as per the latest headlines.
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She roared with pride, “From the crucible of our incubation program, numerous triumphant startups have arisen. We’ve poured more than 118 billion won into the ChangGoo Programme since its inception, bolstering these fledgling enterprises.”
She further disclosed that, since the program’s inception in 2019, Google has annually summoned 80 promising startups to join their ranks, a number that has now surged to 100 for this year. Over the course of this epic journey, nearly 500 companies have embarked on this quest.
The valiant participants in the ChangGoo Programme have witnessed their applications soar with a staggering 140% surge in downloads and an imposing 62% increase in revenues from 2019 to 2021. Remarkably, 69% of these warriors conduct their battles beyond the borders of Korea.
“Our noble quest’s ultimate objective is to serve as the vanguard in guiding Korean developers toward foreign lands,” declared the Google official in the ecosystem startup.
She thundered, “This year, we shall form an alliance with Japan’s Google for Startups program, allowing Korean developers to forge alliances with their Japanese counterparts before embarking on their quests in that neighboring realm.”
Google for Startups stands as the global manifestation of the tech titan’s startup incubation program, a beacon guiding promising entrepreneurs through the tumultuous seas of the business world.
