Global startup accelerator Techstars said it would accept applications for its first South Korea-focused accelerator program through March 1, 2020 to tap into the tech-savvy nation’s large pool of talents in a landscape firmly supported by the government.
The first phase of the accelerator program, co-hosted by Techstars and Hillstone Partners, will select 10 startups mainly dedicated to three categories -- enterprise technology, human-device interaction and lifestyle tech -- said Lee Eun-se, managing director of Techstars Korea.
Techstars to kick off 1st Korean accelerator program in 2020
“I’m very interested in enterprise software because of its global scale,” Lee said. “There’s no such thing as Korean-only enterprise software. If you can create the right solution, it has the potential for mass adoption,”
Lee added he is also interested in startups’ solutions that shape the way humans interact with tech devices and the way humans perform everyday tasks.
“While this program is open to startups in any tech vertical, I’m keen to work with startup founders who have a strong vision with growth potential,” Lee said.
The serial entrepreneur-turned-venture capitalist Lee joined Techstars on Dec. 9. He served as a founding managing partner of Los Angeles-based Eleven:Zulu Capital and managing partner at Beyond Startup, a startup incubator under the Seoul Business Agency.
Techstars Korea Accelerator Managing Director Lee Eun-se
“Applying my expertise in growing successful businesses, I am confident that the first class of Techstars Korea will have the right tools to create cutting-edge and innovative solutions,” Lee said.
The batch will run from June through September next year at venture hub Pangyo Techno Valley Campus. Participating startups will receive a combined $120,000 seed investment and mentorship support.
By Son Ji-hyoung (firstname.lastname@example.org)