Global accelerator program Plug and Play announced on Tuesday the launch of its new office in Seoul, Korea. Plug and Play reported its Korea division will primarily focus on corporate innovation in the areas of Financial Services (Fintech, Insurtech, and Health) and Smart Cities (Mobility & IoT, Energy, and Real Estate & Construction) and expects to expand to other industries in the future.
“Plug and Play will accelerate Korean startups that target the global market by helping them enter the overseas market and attract investment. In addition, Plug and Play will bring startups from overseas, helping them grow their businesses in the Korean market and diversifying the local startup scene.”
Plug and Play also revealed the first accelerator program of Plug and Play Korea is scheduled for summer 2021. Plug and Play Korea plans to lead investments and strategic alliances through collaboration with domestic enterprises and venture capitalists in Korea.
Plug and Play will build an innovation platform in Korea based on their strong relationship with leading corporations, startups, and government entities in Korea. In addition, Plug and Play has operated a joint program with government entities such as the Ministry of SMEs and Startups and Seoul Metropolitan City to foster growth for AI and Fintech startups since 2020.