BootstrapLabs launches Korea accelerator
Silicon Valley-based accelerator program BootstrapLabs, and Coolidge Corner Investment (CCVC), a Korean technology venture firm, have together formed BootstrapAccelerator Korea, a Seoul-based six-month accelerator program.
BootstrapAccelerator Korea will back local tech start-ups looking to relocate in Silicon Valley and build global businesses. In addition, Coolidge will also sponsor BootstrapLabs' Silicon Valley Fast Track program to help Korean start ups successfully relocate, execute and stay in Silicon Valley - the program is not limited to BootstrapAccelerator Korea graduates.
Start-ups joining the Korea accelerator will receive an initial investment of up to $100,000. In addition, they will could also receive angel investment from the OpenTrade deal syndication - a Korean version of US syndicate AngelList - and $35,000 of additional support.
Successful teams will be inducted into the accelerator program in Silicon Valley and receive up to $400,000 in additional capital.
"The Korean startup renaissance movement fueled by President [Geun-hye] Park's creative economy policy is really reshaping the entrepreneurial fabric of the country," said Nicolai Wadstrom, Founder of BootstrapLabs in a statement. "Coolidge Corner Investment has been doing a fantastic job locally, educating, mentoring and investing in promising entrepreneurs and we look forward to working with them in selecting, financing and accelerating global companies"
BootstrapLabs and CCVC are currently vetting several Korean startups and first enrollments could happen as early as January 2014.
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