[THE INVESTOR] Korean internet giant Naver said on June 15 it is opening a new startup incubating facility at the Station F, the world’s largest startup campus in Paris, along with its Japanese affiliate Line.
Station F, located on a 34,000 square meter site, is home to a slew of big tech companies such as Facebook, Zendesk and Vente Privee, among others.
Naver said its facility, called Space Green, will offer office space for European and Asian startups to connect and share information with each other. The company also plans to share its successful service and content management know-how while also providing meet-ups with its engineers to exchange technical information.
“With the accumulated know-how in Korean search engine market and Asian messenger market, Naver and Line plan to strengthen innovative value by working with forward thinking European startups,” Naver CEO Han Sung-sook said in a statement.
Based on its success in the Asian market, Naver is making a strong push to find overseas startups in Europe and advance into the global market. In September 2016, Naver contributed US$100 million to the K-Fund 1, a French venture fund set up by France’s former Finance Minister Fleur Pellerin. The fund is managed by Korelya Capital and invests in European technology startups.
By Alex Lee (email@example.com)