22 Domestic Companies Selected, 14 Global Entries Chosen... Selection Opportunities Expanded to Twice a Year from This Year
Support for Entry into Silicon Valley, USA, through Collaboration with Global Accelerators
[Asia Economy Reporter Haeyoung Kwon] Shinhan Financial Group announced on the 24th that it has selected 36 startups for the 6th batch of 'Shinhan Future's Lab,' the first accelerator program in the domestic financial sector, and has begun full-scale nurturing.
Over 800 startups applied for the 6th batch, and 22 companies were finally selected in the domestic category and 14 in the global expansion category. Starting this year, the startup selection, which was held once a year, will be increased to twice a year in the first and second halves, expanding opportunities to discover the next unicorn companies.
In the domestic category, startups in various fields were selected, including 'Whatsup,' which manages individuals' monthly subscription cancellations and sign-ups in line with the subscription economy era; 'Openup,' which analyzes location and commercial districts through big data analysis; 'Route Energy,' a community-based peer-to-peer (P2P) platform involving local residents; 'Atomus,' a community-based mobile psychological counseling platform; 'InsLab,' which provides cloud DevOps automation technology; and 'Hobbyful,' an online hobby content platform.
In the global expansion category, companies with high growth potential in overseas markets were given opportunities, such as 'Flatfarm' (expanding to Vietnam), which develops B2B emoticons; 'Store Camera' (expanding to Indonesia), an all-in-one mobile solution for online sellers; and 'BuildBlock' (expanding to Silicon Valley, USA), a global real estate investment platform that allows investment in overseas real estate.
For the 6th batch of Shinhan Future's Lab, to support greater scale-up of startups, two domestic companies and one overseas company were separately selected in collaboration with large corporations. 'Alt-A' (Hyundai Motor Group), which collects traffic data on alleyways and private properties; 'EV Care' (LG Uplus), which provides a simple one-stop insurance claim service through smart kiosks; and 'Like a Cool Lion' (GS Home Shopping), which is discovering local startups in Vietnam and providing coding education, are expected to gain more opportunities through joint nurturing cooperation with large corporate partners.
Since its launch in 2015, Shinhan Future's Lab has nurtured a total of 136 companies up to the 5th batch and has invested over 17 billion KRW to date. To support startups' global expansion and nurture local startups overseas, Shinhan Future's Lab was launched in Ho Chi Minh City, Vietnam in 2016 and Jakarta, Indonesia in 2019. Starting this year, it plans to assist entry into Silicon Valley, USA, in cooperation with the global accelerator Plug and Play.
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