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Writer Invest Seoul Day19-09-12 12:19 View7,114

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Application Open For Seoul Fintech Lab




 

 

Application Open For Seoul Fintech Lab

 

The Seoul Fintech Lab is established and managed by the Seoul Metropolitan Government of South Korea. The Seoul Fintech Lab Incubation Program aims to help accelerate Fintech companies’ growth with its global network of over 300 partners and mentors which include highly experienced investors, entrepreneurs and regulators.

The first Seoul Fintech Lab started its operations on April, 2018 at the Seoul StartupHub. And the 2nd Seoul Fintech Lab recently started its operations at WeWork Yeouido Station branch in Seoul, South Korea.

Promising Fintech startups are encouraged to apply for the Seoul Fintech Lab Incubation Program which includes the opportunity to tap on the Seoul Fintech Lab’s global network and a maximum of two years of complimentary exclusive space. About 15 startups(including 5 overseas startups) are already participating in the program and we are recruiting 50 more since August. We believe your future Asian business success will begin in Seoul with the Seoul Fintech Lab. Come to Seoul and start your future conquest of Asia! 

Please refer to the following for more information and apply today.
 

1. Who can apply?

Fintech startups which plan to expand into the Asian markets, beginning with South Korea. Examples of relevant businesses:
digital/mobile banking, payments, remittance, crowd funding, financial data analysis and management, reg-tech, insure-tech, financial security, blockchain based financial services, robo-advisory, prop-tech etc.

 

2. What are the benefits?

As Seoul Fintech Lab is managed by the Seoul Metropolitan Government, you will have access to our invaluable global networks which include highly experienced investors, entrepreneurs and regulators that will help lay the foundations to your future conquest of the Asian markets.

Furthermore, we offer a wide range of exclusive services to help drive your business growth, including intensive incubation programs, comprehensive localization consulting and investment roadshows with well-connected Korean investors.

Last but not least, we will provide a complimentary private/sharing office space for 6+6 months. After the first year, we will review your progress and achievements. If deemed satisfactory, we will renew the contract. The period can be extended up to 2 years.

Seoul Fintech Lab has 33 local corporate partners in seven sectors including banking, asset management, investment, law and tax. Our dedicated partners will support you in your effort to localize your services.

 

3. What are requirements?

- Fintech startups which are already incorporated, actively operating and generating revenues in overseas markets
- Ambitious plans to expand into the Asian market

* Business registration in Korea is not a necessary requirement and Seoul Metropolitan will not support Visa for applications to the Seoul Fintech Lab Incubation Program.

 

4. How many companies could be participate in? 

- Now we’re recruiting approximately 50 startups including 15 overseas startups. But total number of companies can be changed and schedule is flexible. 

 

5. What is the application process?

We will review your application and proceed face to face interview in Korea. If you are not able to be present in Korea, we will send you questions via email. You can film your replies to the questions and email us the video clip.

 

6. What documents should I submit?

a) Business plan(free style, pdf file type, no video included)
- Filename: company name.pdf
b) Business plan contents should include:
- Company history and organization structure
- Reasons for the application to the program
- Market analysis and competitive positioning
- Business model and competitive advantages
- Growth roadmap
- Financial statements / fund raising status
- Expansion and hiring plan(including plans in S. Korea) 

- Detailed date to move in Fintech Lab, Number of employees to work in office, Desired types of office(sharing/private office) etc.
c) A copy of your business registration document

d) Documents that proves itself to be a foreign enterprise

- Certificate of Registration of a Foreign-Invested Enterprise

- Certificate of Establishment of Local Branch in Korea, etc.

*If you don’t have the two documents above, please submit an official letter from headquarters that includes the approval of the Korean office operation.
e) Resumes of management team members. (free style, 1 page each)

 

7. What’s the deadline? 

 

 

submission period

the starting date of moving in

1st

2019. 9.1~9.15

2019. 10.1 ~ 10. 30

2nd

2019. 10.1~10.15.

2019. 11.1. ~ 12. 31.



* If the place is not filled, late submission will be accepted. Applicants shall contact us (e-mail : seoulfintechlab@gmail.com) individually. 

* If the place is filled completely during the 1st Recruitment, 2nd Recruitment will not be proceeded. Please apply as soon as possible.

 

8. Where is the location of the second Seoul Fintech Lab? 

The second Seoul Fintech Lab located at WeworkYeouido Station in Seoul, South Korea.
a) Address: 83, Uisadang-daero, Yeongdeungpo-gu, Seoul, Republic of Korea
b) Accessibility:
- Subway lines 5 and 9, Yeouido Station
- 1 hour by car from Incheon International Airport
c) Location on Google Map :https://goo.gl/maps/xMEqGbkeaZxcuynTA

 

<Seoul Fintech Lab>

 

9. Where to submit?

Please submit your application to seoulfintechlab@gmail.com

 

 

NOTICE

Your application will not be assessed if any required document is not submitted.

Upon the confirmation of any fraudulent act including the intentional omission of information, provision of false information and forgery of required documents, the application will be void.

Violation of this notice or information omission in the application documents detected after any successful application will result in serious consequences, including forced eviction, criminal prosecution etc.

 

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