Global Start-up Accelerator SparkLabs announced on the 19th that it finalized selecting 11 start-ups and will begin its 11th accelerating program.
Around 220 teams applied to the 11th program, an acceptance rate of about 20 to 1. Overseas start-ups based in the Americas, Europe, and Africa, as well as a variety of start-ups including crypto-currency, lifestyle, distribution and content platforms, competed against one another to be chosen. The 11 selected start-ups are as follows.
◇ Jakin: Former employees of Samsung Electronics and Naver operate “Watchbot” a crypto-currency investment bot based on technical analysis. The company will launch the world’s first blockchain-based social trading platform service.
◇ Peaches: A street fashion brand that connects cars and fashion to decorate their own cars. Recently, the brand has been collaborating with global brands such as Nike, BMW and Esquire.
◇ Veluga Brewery: Targeting the increase in home drinkers and imported and craft beer consumption, the brewery pairs bar food with craft beers and provides regular delivery service.
◇ Fleapop: A new concept shopping platform where users can directly experience and buy the latest fashion and beauty items through a shopping channel using IT. Over 30,000 customers visit per market opening.
◇ Perfitt: A service that allows customers to purchase the correct size of shoes through deep learning and image processing mobile apps and devices.
◇ Enterphin: A team of engineers from hardware companies provide solutions to efficiently develop hardware.
◇ Gint: A system specialized company that provides electronic control and unmanned automation services to tractors and construction equipment manufacturers. Currently, the company has partnerships with SK Telecom, Dongyang C&T, Daedong Industrial, as well as other famous domestic companies.
◇ Muse Live: Albums of popular K-pop artists are released through a smart kit that can be easily operated on smart phones. The company plans to expand to a new media, not only for music, but also for various content types such as video, magazine, or VR. They release K-pop singers’ smart kit albums with SM Entertainment and other domestic entertainment companies.
◇ Fluid: A platform that provides various content smoothly to consumers while offering new revenue–generating methods to content providers.
◇ Zhen Hub: Provides a platform to perform logistics work with one click and provides services that make global commerce easier.
◇ BabelTop: Provides on-demand professional translation services and connects companies who need to outsource translation and professional interpreters/translators. So far, over 200 professional translators have joined the platform.
The selected start-ups will be provided with three months of customized mentoring from over 130 Spark Labs mentors from entrepreneurs and investors active in various countries and industries around the world. In addition, a variety of infrastructure for startups, including an initial investment of up to US $50,000, an office space located at Maru 180, a business support center operated by the Asan Nanum Foundation, and free hosting services, are all available. Many start-ups with great global performance including Meme Box, Wanted Lab, Blocko, and GenoPlan, are graduates of the Spark Labs program.
Kim Yu-jin, Joint CEO of Spark Labs, said, “More than 70% of the start-ups that have completed our Accelerating Program have attracted follow-up investments and are achieving remarkable results in overseas markets. We will fully support the start-ups of Class 11 to maximize their competitiveness by utilizing a strong network with mentors and graduate companies.”
On the other hand, companies that completed the program for three months will be given an opportunity to pitch their business to domestic and foreign investors and start-up industry officials at the 11th Spark Labs Demo Day, the world’s largest start-up event, on June 21st.