SparkLabs, a New Startup Accelerator, Launches Bringing Silicon Valley and the World's Innovators to Korea

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Tuesday, July 31st 2012

A New Technology Startup Accelerator Launches to Further Develop One of the World's Leading Innovation Nations by Energizing Its Entrepreneurial Ecosystem

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SEOUL, South Korea, July 31, 2012 (GLOBE NEWSWIRE) -- SparkLabs (www.sparklabs.co.kr), a new startup accelerator in Korea, is seeking to fill the critical gap for Korea's entrepreneurs who seek connectivity, knowledge and mentorship as they work to expand into the U.S. and other locations across the globe.

"Korea has been a powerhouse of innovation in high technology. SparkLabs opens the door to new entrepreneurs to amplify and ignite their new ideas into new and growing businesses," said Vint Cerf, Vice President & Chief Internet Evangelist for Google.

Founded by serial entrepreneurs, Hanjoo Lee (co-founder of Hostway), James Kim (former executive at Nexon), and Bernard Moon (co-founder of Vidquik), who have started technology companies in the U.S. and Korea, gone public, raised venture capital and bootstrapped their startups.

"We are excited about the launch of SparkLabs because of the developing startup ecosystem in Korea and the opportunity to add to it our network and resources. We believe the timing is ideal to contribute to an incredibly strong innovation culture that has produced the first online gaming company in the world, created the first online virtual economies and online collective intelligence & search as examples," said Bernard Moon.

SparkLabs will provide a similar model to Y-Combinator and TechStars while focusing on Korean startups in the Internet, online gaming, mobile, and digital media sectors. The program will be three months long and provide free office space, seminars, numerous perks and access to a top-tier network of mentors from the U.S. and across Asia.

"We're excited to have an incredible group of advisors and mentors from Mark Cuban, owner of the Dallas Mavericks, to Vint Cerf, a 'Father of the Internet,' to Charles and Kai Huang, the founders of Guitar Hero, who will be helping SparkLabs and our participating companies," said Hanjoo Lee. The full list of mentors can be seen at www.sparklabs.co.kr/en/mentors

SparkLabs is a member of the Global Accelerator Network and its first presence in Korea. The Global Accelerator Network consists of independently owned and operated startup accelerator programs in dozens of cities across the U.S. and around the world. Currently, the Network has most of the top accelerators in the world including TechStars (its charter member), Excelerate Labs, and Springboard.

The application process for SparkLabs' first class will open on August 30, 2012. For more information, please visit www.sparklabs.co.kr

About SparkLabs

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