BootstrapLabs, a global accelerator for foreign entrepreneurs, has partnered with Seoul-based Coolidge Corner Investment to form BootstrapAccelerator Korea, a Seoul-based six-month accelerator program designed to assist Korean technology startups to relocate to Silicon Valley and build global businesses.
Silicon Valley-based BootstrapLabs, a global accelerator for foreign entrepreneurs and Seoul-based Coolidge Corner Investment (CCVC), a technology venture firm with $22M under management, today announce the formation of BootstrapAccelerator Korea, a Seoul-based 6 month accelerator program specifically designed to assist
young and promising korean technology startups to relocate in Silicon Valley and build global businesses.
Additionally, Coolidge Corner Investment will sponsor BootstrapLabs’ first country specific program, providing Korean startups a dedicated Silicon Valley Fast Track™ to successfully relocate, execute and stay in Silicon Valley. It is important to note that this sponsored program is not exclusive to BootstrapAccelerator Korea graduates but open to all Korean technology startups with serious ambition.
BootstrapAccelerator Korea will work on preparing their startups’ culture, product and team for international expansion from the get go and continuously assess their readiness to join BootstrapLabs Accelerator Program in Silicon Valley. Startups joining the accelerator in Korea will receive up to $100,000 investment, potential additional angel investment from OpenTrade™ deal syndication (Korea’s version of AngelList) and many other perks valued at over US$35,000.
Once accepted in BootstrapLabs Accelerator Program in Silicon Valley, the Korean startups will receive up to $400,000 in additional capital over the course of the 6+6 month program, potential additional angel investment from AngelList deal syndication and many other perks valued at over $35,000.
Both BootstrapAccelerator Korea and BootstrapLabs program enroll startups on a monthly basis, facilitating onboarding and transitions.
BootstrapLabs Accelerator Program was specifically design to successfully relocate foreign startups with global potential to Silicon Valley and maintain an office in their country of origin to drive future job creation and knowledge transfer. Foreign portfolio companies of BootstrapLabs include: Prezi, Witsbits, AudioDraft
and Zerply, among others. Today these startups are valued at $250M+, employ over 200 people, and received over $25M in funding.
“The Korean startup renaissance movement fueled by President Park’s creative economy policy is really reshaping the entrepreneurial fabrique of the country. Coolidge Corner Investment has been doing a fantastic job locally, educating, mentoring and investing in promising entrepreneurs and we look forward to working with them in selecting, financing and accelerating global companies” said Nicolai Wadstrom, Founder of BootstrapLabs.