Korean accelerator N15 Partners and Starburst, an accelerator specializing in space in the US, have signed a memorandum of understanding (MOU) on accelerating partnerships to vitalize the Korean startup ecosystem and aerospace ecosystem.
With this agreement, both the leading accelerators plan to exchange the know-how and startup incubation technology possessed by N15 Partners and Starburst’s technological expertise and competitiveness. The cooperation expects to expand the startup ecosystem by linking the deal sourcing of startups between the two companies, such as the joint operation of future businesses and the activation of networks.
N15 Partners, a subsidiary company of N15, provides specialized accelerating programs for tech-based and product-based startups. Established in 2018 with the motto of supporting the startup ecosystem through the growth of startups, N15 Partners is an accelerator officially certified by the Ministry of SMEs and Startups, specializing in open innovation. So far, it has carried out 36 seed investments for early-stage companies, 4 exits (sale of investment shares), and M&A and IPO cases.
Starburst is a startup accelerator in the aerospace sector that started in France in 2012 and has bases in eight countries, including the United States, France, and Korea. It has signed contracts with around 120 startups worldwide. Among them, Momentus, which provides a service role of a ‘tow truck in space’ that takes satellites to an appropriate orbit by utilizing space propulsion system technology, has grown into a unicorn company since its listing in 2021.
Before the agreement, Jee Heo, CEO of N15 Partners, Francois Chopard, CEO of Starburst USA, and Sang-don Kim, CEO of the Korea branch, met at the ‘K-UAM Confex Biz Salon’ held at Paradise City Hotel in Incheon last November.
Jee Heo, CEO of N15 Partners, said, “We will strengthen our capacity for sustainable growth and prepare a foothold for the growth and leap of aerospace and aerospace industry startups equipped with the excellent technology and grow into global companies.”
Meanwhile, N15 Partners is currently operating the ‘Eco-Bridge Program’ to support promising startups entering the UAE with the ‘Embassy of the United Arab Emirates in Korea’ and is set to hold the Competition Event 2022 on December 22.
- Korean space startup Perigee to work with the Philippines Space Agency for rocket program
- SpaceV operating a short-term rental platform in South Korea gets pre-series A investment
- Korean startup CONTEC’s ground stations support the successful launch of KSLV-II by the Korea Aerospace Research Institute
- Korean rocket startup Innospace to launch Brazilian military payload