Plug and Play Korea launches in Seoul

Plug and Play Korea launches in Seoul

Published: 27-04-2021 10:20:47 | By: Pie Kamau | hits: 811 | Tags:

Global innovation platform, Plug and Play, announced the launch of its new office in Seoul, Korea, to 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. 

The first accelerator program of Plug and Play Korea is scheduled for summer 2021. By operating accelerator programs centered around Financial Services and Smart Cities, 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. KB, Shinhan, POSCO, LG, Hanwha, Hanjin, CJ, and Samsung Fire & Marine Insurance have established strategic alliances with Plug and Play with an aim of fostering open innovation. Domestic startups with cutting-edge technologies such as Alchera (AI), Mdimune (Healthcare), Lunit (Healthcare), Swidch (Fintech), AIZEN (Fintech), Deep Search (Fintech), and 3i Inc (Real Estate & Construction) have already taken part in the Plug and Play's accelerator program based in Silicon Valley, MunichTokyoSingapore, and other global offices, cooperating with global corporations through technology transfer and investment opportunities.

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. Plug and Play will keep their strong involvement in such projects and continue to contribute to the creation of a global open innovation ecosystem with the private and public sector in Korea.