T-Hub, which leads India’s pioneering innovation ecosystem, today announced its partnership with Korea SMEs and Startups Agency (KOSME). Both these organizations have joined hands to provide early-stage South Korean startups with business opportunities, market understanding and access to customers. In addition, this partnership would enable soft landing for South Korean startups to explore the Indian market. 

Owing to the current pandemic, the partnership formalized virtually, and the MoU was signed by Ravi Narayan, CEO of T-Hub and Jung Hwan Moon, Chief Representative (India), Korea SMEs & Startup Center - an initiative of the Ministry of SMEs and Startup of the Government of South Korea. As part of the partnership, T-Hub will virtually onboard select startups in their acceleration program.

Ravi Narayan, CEO, T-Hub, said, “South Korea has built a very strong startup base over time and Seoul houses over 60% of Korean startups. According to the GSER 2019, South Korea has invested around $2 billion annually into the country’s startup ecosystem since 2013. Seoul is actively working toward creating a larger startup ecosystem. Our partnership with the South Korean Government will create ample opportunities for innovative startups to scale up in the Indian markets. T-Hub's collaboration with KOSME will provide international market access to the most disruptive and deserving South Korean startups, and fuel connections with key stakeholders. During such unprecedented times, we need new innovative ideas to break through an economic slowdown period.” 

Jung Hwan Moon, Chief Representative India, KOSME, said, “With the agenda of ‘Korean Startups Go’ Global’, KOSME aggressively looks forward to penetrate Korean startups in the growing Indian market.”  

The startups will be able to experience the following benefits from the two-month-long acceleration programs:

• Enable tailored business and investor connects for the startups in the Indian market.
• Enable deserving startups from the South Korean innovation ecosystem to gain market access and be ready for the Indian market by creating a trendsetting model.
• Empower them with knowledge and assistance to improve their product market fit and business model. The localization intervention is the heart of the program.
• Branding and marketing support thereby helping them increase their brand visibility in the market.
• Pre-departure virtual classroom sessions with dedicated mentors and subject matter experts will continue for a month helping startups acclimatize with local market expectations and culture.
• Networking opportunities with key stakeholders of the startup ecosystem at Delhi NCR, Hyderabad and Bengaluru.