A piece of good news from South Korea this November, in the midst of a tough pandemic! Among the 2648 applicants from 118 countries, Vechnology has been selected and successfully graduated from K-startup Grand Challenge (KSCG) placed in the Top 3 out of 60 startups.
K-Startup Grand Challenge (KSCG) is a startup accelerator program supported by the Korean government organization NIPA (National IT Industry Promotion Agency and funded by the Ministry of SMEs and Startups of South Korea. The program is inviting startups from overseas in order to assist Korea’s evolution into a prominent startup business hub which is based in the Pangyo Techno Valley, known as the Korean version of the Silicon Valley.
Within the past two and a half months, Vechnology Co., Ltd. has officially incorporated in Korea and created job opportunities for the local talents. A team of two, Wai Yan and Yunji, has been defining the business development activities and resulted in forming partnerships with 7 big domestic and international companies in Korea, one of them being Danal, the biggest payment gateway company.
Meanwhile, the company has secured the seed round of funding to kick off the business and to strengthen the team further. Additionally, Vechnology Co., Ltd. as the Top 3 startups will be receiving further settlement support from the Korean government for the next three months.
With continuous technological R&D and in-house built smart vending machines, Vechnology is providing the most in-demand and innovative vending technology solution options to businesses. We are expanding our home-grown smart vending machines, on a global scale. Looking forward to our first stop in Korea!