Proven Capabilities in Startup Selection and Growth Support
Reinvestment of Exit Funds into Promising Early-Stage Startups
Next Elevation, the startup accelerator established by The Asia Business Daily, has achieved a successful exit (investment recovery) case. The company is being recognized for simultaneously demonstrating its capabilities in startup selection, growth support, and investment execution to the market.
On January 15, Next Elevation announced that it had completed an exit in about a year and a half by selling its existing shares in Bark, an ergonomic footwear company. Through this exit, Next Elevation sold all of its shares invested in Bark. The return was approximately three times the original investment.
Next Elevation discovered Bark in March 2024 through its accelerator program, which is designed to identify and nurture early-stage companies. The investment was made in June of the same year. Selected for the second cohort of Next Elevation’s accelerator program, Bark has since received practical mentoring, investment, and support for business strategy advancement, all tailored to its stage of growth.
Bark's flagship product is an ergonomic recovery slipper. A rehabilitation medicine specialist participated directly in the design and development of the product, which is a key feature. Throughout Bark's growth, Next Elevation provided close support in areas such as brand strategy, marketing direction, and investor communications. The accelerator also contributed to expanding brand awareness through its media network and helped create an environment for securing follow-on investments.
As a result, Bark implemented an aggressive marketing strategy centered on its ergonomically designed functional footwear, leveraging celebrity and popular character intellectual property (IP). This led to a rapid increase in company value after the investment. In particular, the company quickly expanded its consumer base and enhanced both sales and brand value through campaigns that actively utilized online channels and media exposure. A Next Elevation representative stated, "It is significant that we achieved a relatively quick return by rapidly increasing company value after the investment."
Next Elevation plans to reinvest the capital secured from this exit into promising early-stage startups. Based on this, the accelerator aims to strengthen its role and continuously expand the virtuous cycle of the investment ecosystem.
Meanwhile, Next Elevation continues to leverage its media-based network to invest in and accelerate early-stage startups. After investment, it provides comprehensive support throughout the entire growth cycle, including growth support, increased media exposure, and assistance in securing follow-on investments, thereby helping startups grow. The company is jointly operating an investment fund with CNT Tech and is actively promoting global market entry and overseas expansion for Korean startups through collaboration with global accelerator Draper Startup House Korea. Currently, it is running the second cohort of the accelerator program 'Ascend' together with CNT Tech and Draper Startup House.
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