[INTERVIEW] 500 Startups hunts for next unicorn in global market

[THE INVESTOR] For many global startups, a four-month accelerator program of 500 Startups, a US venture capital seed fund, is an eye-opener.The startup accelerator program, held four times a year at two of 500’s offices in Mountain View and San Francisco, is a mixture of collaboration as well as fierce competition among startups from around the world. Mentors, called coaches there, also provide full support in a range of sectors, such as marketing and sales, for the participants.“The two acceler

Aug. 18, 2016

470 start-ups registered over W100b revenue in 2015

[THE INVESTOR] The number of South Korean start-ups with annual revenue of 100 billion won (US$87.9 million) or more surpassed 470 last year, data showed on July 21. A total of 474 startups saw their annual revenues exceed 100 billion won last year, up 14 from the previous year, according to the data jointly released by the Small and Medium Business Administration and the Korea Venture Business Association.  Korea`s main financial district in Yeouido, Seoul (Korea Herald file photo)Whisky brand

July 21, 2016

Korea to invest W12.5b in ‘soft robots’

[THE INVESTOR] The Ministry of Science, ICT and Future Planning said July 19 that the ministry will invest a total of 12.5 billion won (US$11 million) in the field of bio-inspired robotics, often called “soft robotics,” over the next seven years. Soft robots are highly flexible and look like sea creatures. The research aims to build machines that handle tasks impossible with traditionally designed robots. A stingray-shaped bio hybrid robot (left), a joint research project of Korea’s Sogang Unive

July 19, 2016

Korea’s first generation start-up entrepreneur acquires Cyworld

[THE INVESTOR] Jeon Je-wan, a Korean first generation start-up entrepreneur, has acquired Cyworld, a social networking service considered a trailblazer in the SNS sector in Korea.Cyworld said on July 19 that Jeon, the head of streaming service Air, has recently taken over the firm after acquiring 100 percent stake in the company previously held by 29 shareholders. The exact cost of the takeover deal was not revealed, but it is estimated to be less than 1 billion won ($881,000).Jeon founded Web p

July 19, 2016