India Korea Business Symposium was hosted by Invest India and Korean Chamber of Commerce and Industry (KCCI) in Seoul last month.
The Symposium was organised to felicitate the Korean business community on their success in India and to present more opportunities for Korean businesses in India.
Prime Minister Narendra Modi had addressed the business gathering on the way ahead to furthering bilateral ties between India and Korea. Over 400 Korean business leaders, including corporate groups like CJ Group, Hyundai, Samsung, LG, SK Group and Hyosung were present on this occasion.
Modi had also launched the India-Korea Startup Hub and Startup Grand Challenge. The Hub is hosted on the Startup India digital platform (www.startupindia.gov.in/korea), the world’s largest virtual incubator with 300,000 registered startups and aspiring entrepreneurs.
The Startup Grand Challenge seeks to channelise the entrepreneurial capacity between Indian and Korean startups to work together and find solutions for challenges facing the world.
Initial challenges will focus on the themes of Credit Rating, Predictive Analytics, Fraud Detection, Cyber Security, Primary/Secondary/Tertiary Healthcare. State Bank of India (SBI) and Mahindra Group will mentor, offer pilot project opportunities and financial support of up to US$ 50,000 to winners.