Singapore – 31 May 2021 – Seoul FinTech Lab, funded by the Seoul Metropolitan Government, and K Accelerator, a fintech support center based in Seoul, have partnered with F10 to bring its renowned Incubation Program to Seoul. This partnership will help to enhance the global competitiveness of promising South Korean startups by leveraging on F10's networking opportunities and fulfil Seoul FinTech Lab's and K Accelerator’s aim of promoting innovation in the Korean financial industry.
The program is focused on helping early-growth stage South Korean FinTech startups sharpen their business offerings in preparation for international markets and corporate customers. Through leveraging on F10's extensive innovation ecosystem, F10 also seeks to support these startups in their funding journey and refinement of use cases.
Jonas Thuerig, Country Success Lead for F10 Singapore, shared that "the South Korean FinTech startup scene is growing rapidly and the large pool of talented entrepreneurs has big potential for transformative and disruptive solutions to gain ground in the financial industry globally. We are excited to partner with K Accelerator and Seoul FinTech Lab."
Jonas Thuerig will be part of the dedicated team responsible for engaging and forging collaborative opportunities between the selected startups and the F10 network.
"Through this collaborative program with F10 Singapore, we plan to provide opportunities to connect companies, mentors, and investors from the F10 ecosystem," said CEO Jae Moon Soh of K Accelerator. "We will continue to lay the foundation for the growth of FinTech startups through various collaborations."
Young Soh, Head of Seoul FinTech Lab, said that "Singapore is the country with the highest demand for Seoul Fintech Lab startups to enter. Through this collaborative program with F10 Singapore will provide practical help for startups to successfully settle in Singapore and Southeast Asian markets".
The highly competitive program will select the 10 most promising startups to join the six week program, starting on July 26th 2021. The program will run in a hybrid format, with four weeks of virtual classes and an intense two week in-person workshop in Seoul, ending with a Demo Day, where startups will pitch their business ideas in front of an international audience.
K accelerator is an accelerator certified by the Ministry of Small and Medium-Sized Enterprises and Startups in South Korea. We are in charge of operating the 'Seoul FinTech Lab' and the 'FinTech Cube' respectively supervised by Seoul Metropolitan Government and the FinTech Center Korea under the Financial Services Commission and helping fintech start up's scale up and advance globally.
The Seoul Fintech Lab, founded in 2018, is a fintech startup supporting institution providing an incubating and accelerating program and entirely funded by the Seoul Metropolitan Government. With the customized programs and office space for up to 2 years, startups can reach their full potential. Also, to promote the global competitiveness of fintech startups and to be the next financial hub in Asia, it is located at Yeouido, the financial district of Seoul. Currently, Seoul Fintech Lab has about 100 fintech startups, including foreign startups. The lab aims to expand its network further by cooperating with other fintech-related institutions.