Digital Entertainment Ventures and its Seoul-based partner DEV Korea have chosen the next eight Korean startups that will receive funding via the DEV Korea Discovery Fund. No financial terms were disclosed. Also, the startups will participate in a month-long accelerator program in New York where they will “further develop their products and receive expert guidance on topics such as branding and marketing.” Among those selected are Gamecoach, an eSports instructional platform; Tackl, a career development platform; and theCre8tion, a video editing platform provider for the B2B sector.
NEW YORK, NY–(Marketwired – July 07, 2015) – Digital Entertainment Ventures (DEV), an early stage venture capital and advisory firm, and its Seoul-based partner, DEV Korea, have selected the next eight companies that will receive investment through the DEV Korea Discovery Fund and participate in its accompanying accelerator program. Representatives from Korea-based startups Tackl, Super !dea, Gamecoach, Gluvi, Crowd Sourced Story, MtoV, Coco Apps, and theCre8tion just arrived in NY today for an intensive month-long acceleration session that will give them first-hand experience with U.S. business culture and entrepreneurship.
During their month in New York, the companies will be housed at a co-working space on 47th St. and Third Ave., where they will further develop their products and receive expert guidance on topics such as branding and marketing from guest speakers like Rachel Szporn of L’Occitane en Provence. Each company’s representatives will also attend classes at General Assembly, create a professional video introducing and explaining their business, and show off their final product at a Demo Day at the Microsoft Technology Center on August 5th. In addition, each company will attend the August 4 NY Tech Meetup (NYTM) at New York University’s Skirball Center for the Performing Arts, where they will be able to demonstrate their products to fellow attendees during the official afterparty.
“We’re happy to give these exciting startups the opportunity to learn the nuances of the technology business in one of the biggest tech cities in the world,” said Alan McGlade, Founder and Managing Director of DEV. “Each of these companies has a strong team, a working product, and a desire to expand globally, and this program will help them form the connections they need to do exactly that.”
Partners for the DEV Korea Discovery Fund accelerator program include Microsoft Bizspark, Fox Rothschild LLP, Morris & Kamlay LLP, and Reitler Kailas & Rosenblatt LLP. Other contributors include General Assembly, Time Warner, and NYTM.
More about the next wave of DEV Korea Discovery Fund investments:
Tackl provides a career development platform that allows companies to evaluate students through participation in company projects. This service helps students to get to know potential employers and provides another way for companies to evaluate potential employees.
Super !dea provides a mobile advertising platform that gives companies a new way to advertise on mobile devices. The company offers free WiFi access, which is paid for by advertisers. Smart-device users view a commercial and then are linked to the service.
Gamecoach is an eSports instructional platform that allows users to learn directly from professional gamers. Based in South Korea, Gamecoach has access to many of the top gamers in the world.
Gluvi allows users to create video content in a collective manner. Short video clips are combined using Gluvi’s unique branching system, allowing users to discover alternative interpretations of the content.
Crowd Sourced Story has developed a mobile MMORPG in which the storyline of the game is crowdsourced. Players collectively guide the upcoming storyline by shifting plot points along the way.
MtoV has developed a cloud-based vehicle analytics platform that provides real-time feedback and recommendations to users. A small hardware module built by the company collects and transmits vehicle data to a cloud server, which then analyzes the data and reports to users via web or mobile app. MtoV specializes in big data analytics and plans to license their software to large enterprises such as vehicle manufacturers and insurance companies.
Coco Apps is a mobile application and an e-commerce service that allows K-pop fans/customers from different countries to purchase gifts and merchandise for celebrities. Their service includes connecting fans with their idols through a fan letter translation service and delivery service of letters, gifts, and merchandise purchased through their website and mobile application.
theCre8tion provides a video editing platform for the B2B market. On theCre8tion’s platform, companies can crowd-source clips for specific uses and use those clips for promotion and commercial content.
About DEV (Digital Entertainment Ventures)
Launched in April 2012 and headquartered in New York City, DEV provides guidance, seed and early stage capital to companies building the next generation of digital services that are transforming media and entertainment. DEV is managed by seasoned media and venture executives Alan McGlade and Michael Yang and its Venture Partners Damian Manning and Swatick Majumdar. Recent successes include the acquisition of early DEV Fund investment Human Demand by IgnitionOne. In 2014, DEV established offices in South Korea to better take advantage of its growing creative economy and spring-board investments to the global stage. Visit DEV on the web at www.devny.vc.
Follow on Twitter: @DEV