BENGALURU, INDIA — The GAIN, a Bengaluru-based platform for the global acceleration of startups, signed a memorandum of understanding with South Korea’s Seoul Business Agency (SBA) and accelerator Unicorn Incubator for expanding the Korean startup ecosystem in India.
The MOU is part of GAIN’s flagship program ‘India Market Entry’, an initiative to bring startups from different sectors from leading innovation economies like Israel, South Korea, and other ecosystems to the Indian Markets.
The GAIN is a platform for the global acceleration of innovative startups, working with emerging technologies to leverage India’s talent pool and create a foothold in domestic and international markets. The GAIN supports startups by providing access to new business, funding, active mentoring, and help to scale up.
“For the past several years, Korea has been amongst the top 5 countries in innovation according to the ranking published by the World Economic Forum. India being the tech talent capital of the world, our partnership with SBA and the Unicorn Incubator will help leverage the hi-tech competencies of Korea and the tech talent of India to accelerate innovations in the market. I am sure that the MoU will strengthen the efforts to induce cross-pollination of innovative ideas and explore business transactions with the broad Indian Innovation ecosystem, in the startup sector,” said Mr. Varad Rajan Krishna, co-founder, and CEO, of The GAIN.
The acceleration program for the first cohort under this partnership is already underway and the first batch comprises five start-ups from South Korea working on various innovative technologies in the health-tech sector. The program is championed by the finest industry veterans and several subject matter experts, with a spotlight on Go-To-Market and PoC implementation, making it one of the best programs for international startups that are looking to expand in India.
SBA is a business support institution for SMEs in Seoul, run by the Seoul metropolitan government. It was established to promote and develop industries and to provide comprehensive and systematic support to SMEs located in Seoul. SBA provides a variety of public services such as support for start-ups (including the business of foreign residents in Seoul through Seoul Global Center), R&D, intellectual property, development of market outlets for small businesses, overseas export, SETEC(Trade exhibition for SMEs) and so forth. These services aim to help SMEs increase their market competitiveness.
Founded in 2017, Unicorn Incubator is an incubator based in Seoul, South Korea. Unicorn Incubator is an accelerating company for startups in Korea looking to enter the Indian market. The firm provides funding for startups in Korea who want to run their business in Bangalore or Mumbai, India.
