Applications Open from February 21 to March 11 for Technology-Based Innovative Startups Within 3 Years of Establishment
[Asia Economy Reporter Hwang Yoon-joo] Unicorn academy 'Star Ventures' announced on the 22nd that it will publicly recruit the first batch of startups to participate in the unicorn accelerator program 'Star Innovation,' aimed at nurturing next-generation technology-based unicorn startups, in collaboration with SK Securities.
'Star Innovation' is a unicorn accelerator program that discovers promising companies and supports them to establish both substance and scale as unicorn companies. It facilitates follow-up investments ranging from 1 billion to 30 billion KRW by connecting with solid investment firms. Above all, its distinctive feature is the 'Seed-to-Pre-IPO One-Stop Course,' where selected startups receive seed funding from its own fund, allowing them to focus on refining their business models and strategies without financial worries, and quickly connect to institutional investors for further funding. This is why Star Ventures is recognized as Korea's 'Y Combinator.'
The 'Star Innovation 1st Batch' is open to any innovative technology-based startups (all fields) established within the last three years, including those in 4th industrial technologies, ESG, metaverse, and next-generation content.
Applications will be accepted for about three weeks from Monday, February 21 to Friday, March 11. Applicants only need to submit a business plan (free format) and a business registration certificate. The selection schedule includes document screening on March 14-15, interviews on March 17-18, presentation evaluations on March 23-24, and the final results will be announced on March 25. The first demo day is scheduled for June.
Star Ventures aims for the selected companies in the 'Star Innovation' first batch to attract Series A investments from institutional investors within six months and grow into unicorns. Through the 'Star Unicorn Academy Program,' which involves top domestic and international investment networks and experts in technology commercialization, law, accounting, and marketing, it will provide various programs such as staged investment attraction, patent support, networking, education, expert mentoring, and also support office space.
Meanwhile, Star Ventures is a technology startup unicorn accelerator known as Korea's 'Y Combinator.' It discovers high-growth potential technology startups and offers various support programs to help them grow into unicorn companies through investments, education, and mentoring by experts and partner companies in related fields.
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