The program focused on cutting-edge emerging Korean startups in Fintech and Smart City to scale in Singapore.
SINGAPORE, Dec. 21, 2022 /PRNewswire/ -- F10, a global innovation ecosystem and early-stage investor, today announced the successful conclusion of their 2022 K-Startup Center (KSC) Singapore Program. With a focus on a cohort of 15 promising Korean startups across Fintech and Smart City looking to scale in Singapore, the program entailed a week-long KPI workshop in Seoul, Korea followed by 8-weeks of comprehensive master classes and coaching.
A physical demo day was successfully held on 6th Oct 2022 where key stakeholders, including founders, corporate professionals and VCs came together to attend, engage and network. Jonas Thuerig, Head of F10 Asia, said, "It has been a great journey to be able to witness these 15 promising Korean startups in Fintech/Smart City quickly adapting to the Singapore market and scaling up throughout the program. F10 has a broad network and we are always looking for partners who share the same vision like us in building a global innovation ecosystem."
APAC's no.1 ecosystem for startups
Singapore is ranked as the No 1 ecosystem for startups in the Asia Pacific in 2022 with more than 3,800 tech-enabled startups and 12 unicorns calling it home, creating an ecosystem that is estimated to be worth US$89 billion. As such, this is an opportune time for startups to get the right mentorship and guidance with F10's KSC program to make strides in this thriving ecosystem for business growth and scalability.
Meanwhile in 2021, venture capital funding for Korean businesses increased 78% year over year and surpassed $6.4 billion. With a record-breaking $3.5 billion in investment, Seoul accounted for 56% of the total. According to the Korean government, there are now 18 unicorns in existence, 15 of which are based in Seoul.
The burgeoning startup and VC scene in Korea are indicative of the potential of startups born in the country. Expanding to the hotbeds of Singapore and across Southeast Asia seems like the natural course for these startups and that's exactly what programs like F10's 2022 KSC seek to achieve.
Supported by the Korea Institute of Startup & Entrepreneurship Development and F10 came together to create this program with the common goal to create a strong framework that helps emerging Korean startups expand and scale in Singapore and across Southeast Asia. The K-Startup Center Program operates in 7 countries, including Israel, India, USA, Finland, Sweden, France and Singapore, and seeks to bring Korea-born startups to the global stage.
More information about F10's upcoming programs can be found here: https://www.f10.global/
F10 was founded in 2015 and has grown to become a global innovation ecosystem with hubs in Switzerland, Singapore, Nordics & Baltics, and Spain. We believe the fastest route to innovation lies in early collaboration between startups, incumbents, and investors. Each stakeholder benefits from shared skills, experience, and insight. Our core value is the focus and expertise in Fintech and Web 3. Moreover, we offer a platform that creates synergies between startups and corporates throughout the whole life cycle.