Technology start-up incubator T-Hub, that has emerged as a key entity in the innovation ecosystem, on Monday said it has entered into a partnership with Korea SMEs and Startups Agency (KOSME) to provide early-stage South Korean start-ups with business opportunities, market understanding and access to customers.
Their partnership would also enable soft landing for the start-ups to explore the Indian market. Ten South Korean start-ups have been shortlisted for the first accelerator programme.
A release from the incubator said T-Hub will virtually onboard the selected start-ups in the acceleration programme. Owing to COVID-19, the partnership was formalised virtually. T-Hub CEO Ravi Narayan and KOSME Chief Representative (India) Jung Hwan Moon signed the MoU. KOSME is an initiative of the Ministry of SMEs and Startup of the government of South Korea.
According to Mr. Narayan, South Korea has built a very strong start-up base over time and Seoul houses over 60% of Korean start-ups. Seoul is actively working towards creating a larger start-up ecosystem.
“Our partnership with the South Korean government will create ample opportunities for innovative start-ups to scale up in the Indian markets. T-Hub's collaboration with KOSME will provide international market-access to the most disruptive and deserving South Korean start-ups and fuel connections with key stakeholders,” he said.
Mr. Moon said KOSME, as part of ‘Korean Startups Go Global’ agenda, aggressively looks forward to help Korean start-ups foray into in the growing Indian market. As part of the two month acceleration programme, the start-ups will get tailored business and investor connects in the Indian market; helped to gain market access and be ready for the Indian market; and empowered with knowledge and assistance to improve their product market fit and business model.
