S.Korean startup accelerators to boost overseas biz

South Korean accelerators (ACs) are turning to Southeast Asia and the Middle East market to support startups and expand their reach.

ACs, companies that invest in and nurture early-stage startups, are exploring new opportunities abroad.

The Korea Startup Accelerators and Early Stage Investors Association (KAIA) recently opened a shared office in Ho Chi Minh City, Vietnam, reflecting the growing interest in Southeast Asia.

Prominent ACs are also expanding into the Middle East.

Y&Archer is a key partner in Thailand’s government-led startup program, modeled after South Korea’s Tech Incubator Program for Startups (TIPS).

CNTTech has signed a memorandum of understanding (MOU) with a Saudi Arabian accelerator to implement a standardized startup incubation platform.

They target the global market by streamlining startup identification and incubation processes through software-as-a-service (SaaS) solutions.

Firms such as The Invention Lab in Vietnam, N15 Partners, and Awesome Ventures in Singapore are helping domestic startups attract local investment, establish subsidiaries, and connect with key partners.

South Korea has 460 registered accelerators, but many lack tangible investment activity. In 2023, AC investments dropped by 28% compared to the previous year, while the number of funded startups fell by 11%.

Write to Eun-Yi Ko at koko@hankyung.com