Tencent to hold start-up competition in Korea

[THE INVESTOR] China’s Internet giant Tencent is seeking to nurture competitive Korean start-ups as it plans to hold a global start-up competition event in Korea in the latter half of this year.

The company said on July 12 it will hold the event -- the first of its kind -- in four countries, including Korea, China, India and the US.
 

Regional winners will be selected through semifinals to compete for the global championship title. In Korea, three teams will be named to participate in the final competition that will be in China.

The final winner will be awarded 100 million yuan (US$15 million) of funding, including office site and marketing support.

By Lee Ji-yoon (jylee@heraldcorp.com)