Techstars and Hillstone Partners, a boutique capital consultancy firm specializing in startup business, announced on Wednesday the launch of the Techstars Korea Accelerator in partnership with Hillstone Partners.
According to the duo, this new three-month mentorship-driven accelerator program, Techstars’ first in Korea, will source 10 top performing startups per year. The accelerator will support and nourish the Korean startup ecosystem and is open to startups focused on digital and tech innovation across a variety of business verticals. It was revealed:
“The accelerator will be hosted at the Pangyo Techno Valley campus (PTV), a business and innovation hub focused on information technology, biotech, cultural tech, and fusion tech. PTV is located in the major metropolitan area of Pangyo, Seongnam, Gyeonggi Province, South Korea, also known as the Silicon Valley of Korea, approximately 30 minutes from downtown Seoul.”
Techstars also reported that its expansion to Korea marks its commitment to continued global expansion and efforts to help entrepreneurs succeed across the world.
“Korea is an attractive market for Techstars, considering the country’s recent rise on the scene as a global startup hub, the active and well-designed innovation ecosystem, and the support from public and private sectors of the nation’s tech scene. Techstars will join the ranks of other US-based tech companies such as Google and Facebook that have set up shop in past years.”
Speaking about the new program and expansion, Will Robinson, Vice President Asia Pacific Sales at Techstars, stated:
“Korea’s booming startup sector and Pangyo’s thriving tech ecosystem are the perfect ingredients for this accelerator program. With Hillstone Partners’ 10+ year commitment to the region’s startup community, and our experience propelling startup growth through mentorship and the Techstars network, we are well positioned to deliver an incredible and impactful accelerator in Pangyo. This is a very exciting move for Techstars, considering Korea’s access to other major Asian markets, the country’s massive internal market, and the public and private sector’s interest in mobilizing the tech industry.”
Applications for Techstars Korea in partnership with Hillstone Partners will open in December of 2019, with the program running from June 2020 through September 2020.