Indian startup 'Connect' wins K-Startup Competition with foreigner certification and payment solutions

In this year’s Foreign Entrepreneur Competition, Indian startup “Konnect” took first place, and the development of certification and payment platforms targeting foreigners is attracting attention in the domestic startup market. This event is established to support overseas potential entrepreneurs in Korea to sustain their businesses, with global participation steadily increasing each year.

On December 11, the Small and Medium Business Venture Department held the “2025 K-Startup Major Challenge Demo Day” at COEX in Samseong-dong, Seoul, announcing the final winning teams. This competition is a government-led project aimed at providing global potential startups with opportunities to enter the Korean market and promoting the internationalization of the domestic entrepreneurial ecosystem.

A total of 2,626 teams from 97 countries participated in the event, with the final stage featuring the top 8 teams. The Indian team “Konnect,” which won first place, is dedicated to solving the real difficulties faced by foreigners in Korea—namely, identity verification and payment processes. Initially, they launched a data analytics-based verification solution, with plans to expand into a comprehensive service platform covering payments, settlements, and user convenience features in the future.

The second-place American team “MaimHaim” is developing automated unmanned operation solutions. Its core advantages include a contactless check-in/check-out system and a contactless payment system, which are viewed as highly relevant technologies in the post-pandemic era. The third-place Canadian team “Pierrot Company” is working to build a global platform for circulating discarded IT assets through a virtuous cycle.

The top 20 teams, including the award-winning companies, will receive support over the next three months for co-developing technologies with domestic large and mid-sized companies (open innovation), investor presentations, office space preparations, and other settlement support. The government stated that this initiative aims to help foreign teams stabilize their entry into and root in the Korean market.

First Deputy Director of the Small and Medium Business Venture Department, Ryu Yong-seok, said that establishing a foothold for overseas entrepreneurs in Korea is not just about attracting foreign startups but also a strategic cornerstone for ensuring the diversity and growth potential of the domestic startup ecosystem. Continuous institutional support will be promoted in the future.

Such projects are expected to enhance the global openness of the domestic startup market, attract foreign professionals and capital, and generate positive ripple effects across the industry. Especially because they focus on technology-driven service industries, the global innovation competitiveness of K-Startups is likely to be further strengthened in the future.