The Korea-Africa Foundation, supported by the Ministry of SMEs and Startups and the Korea Institute of Startup & Entrepreneurship Development, is recruiting domestic startups wishing to expand to Africa through the ‘2025 Global Accelerating Support Program’.
The program targets startups in the fields of climate tech and aging tech. For climate tech, seven companies in the sectors of renewable energy, carbon tech, clean tech, eco tech, food tech, and geo tech seeking to enter South Africa will be selected. For aging tech, eight companies with health care, biotech, and beauty tech technologies targeting Egypt will be chosen. The application deadline is May 8.
Selected companies will receive an average of 30 million KRW in funding for market development. This funding will be used for establishing local corporations, securing intellectual property rights, and conducting local Proof of Concept (PoC) among other practical entry activities. The participating companies will undergo preliminary training to evaluate business suitability and refine investment attraction strategies before participating in an approximately 4-week local acceleration program. In the locale, activities will include business meetings, IR pitching, and field validation.
The Korea-Africa Foundation held a similar program in 2024, where seven climate tech startups visited South Africa and Kenya to engage with government agencies, conduct 1:1 business matching, perform demo days, and conduct market research. Some companies established local corporations or signed MOUs. Opportunities for technology transfer and joint research and development (R&D) were also pursued.
An online briefing session for this recruitment will be held on April 29 at 4 PM, where the program structure, application instructions, and Q&A will be conducted.
The Korea-Africa Foundation approaches Africa not just as a simple support target but as a strategic partner, operating programs to create tangible opportunities for domestic companies in the African market.
