15 Korean startups providing AI-based services to get help raise funding from leading global early-startup venture capital and investment management firm, SOSV. The VC firm has partnered with the Korea Institute of Startup and Entrepreneurship Development (KISED), an affiliated institution of the South Korean government, for the Global Startup Academy (GSA) program. SOSV, through its Asia-based accelerators – Chinaccelerator and MOX (Mobile Only Accelerator) – will bring its cross-border expertise to the Global Startup Academy (GSA) program, alongside three other international accelerators 500 Startups, Plug&Play and Startup Bootcamp.
A lead investor in India, South East Asia
SOSV has stepped up its investments in Asia in recent years, becoming the 3rd most active investor in India and the 6th most active investor in Southeast Asia. SOSV is also the no.1 early-stage investor worldwide for Q2 and Q3 of 2020, according to CBInsights. The focus on AI-based startups in the GSA also aligns well with SOSV’s area of expertise, where they have invested in 50+ AI startups around the world. William Bao Bean, General Partner at SOSV and Managing Director of Chinaccelerator and MOX (Mobile Only Accelerator), believes that the Korea startup ecosystem remains largely untapped and has the potential to become the startup hub of the region, boasting a market for future tech companies to emerge and develop.
“The Korean government’s effort in initiating a project of such magnitude shows their seriousness and motivation to bring Korean startups to the global stage, and we are happy to be a part of this initiative. The AI startups in the program have huge potential in terms of bringing more innovative solutions across different markets globally,” he added.
About Global Startup Academy
The Global Startup Academy (GSA) is helping 60 Korean startups increase their footprint in Southeast Asia, the United States, China, and Europe. Each of the four global accelerators is working with 15 startups. The program is geared towards bringing more Korean AI-startups to the global arena.
SOSV will help the 15 startups with funding using their extensive network of global investors and applying the startup methodology that has helped over 1000+ of its portfolio companies around the world. While the companies are still at a very nascent stage, SOSV picked those companies that it believes demonstrate traits necessary to make them successful and to expand globally. Vandalsoft, T-Order, and GDF Lab are among the pack, building smart AI solutions for agrotech, hospitality, and video rendering tech, respectively.
The program officially kicked off in September 2020 and will run until the end of February 2021, finishing off with a Demo Day.