DEV Partners with Innopolis Foundation for its Third Intensive Program for Korean Startups in New York City
October 1, 2015 – Digital Entertainment Ventures (DEV), an early stage venture capital and advisory firm, in partnership with Korea’s InnopolisFoundation and its Global AIM program, is hosting its third cohort of Koreanstart-up companies in New York for an intensive month-long acceleration sessiondesigned to give them will give them first-handexperience with U.S. business culture and entrepreneurship. This group will include Coolio, Firstar, Fluttr, ForceEdu, Standard Energy, Holzack, RNSLab and Zoomanzi, as well as two companiespreviously affiliated with DEV, Brew.Glass and Botem.
Joining the opening session on October 5 will be Michelle Kim, Team Leader of International Cooperation Team for the Innopolis Foundation. Innopolis is the leading research institution in South Korea and its Global AIM program is focused on introducing Korean companies to global markets. DEV has been associated with Innopolis since it launched its Seoul affiliate DEV Korea in January 2014, and has already had more than 15 companies participate in its two prior intensives. The Fall program
will close with a Demo Day in New York on November 4.
“We’re so honored to be working directly with Innopolis to bring these promising Korean startups to New York for our DEV immersion program, and in particular, that Michelle Kim will be joining us for the opening session,” said Alan McGlade, Founder and Managing Director of DEV. “Innopolis has created an incredible environment for innovation in Korea, and I’m looking forward to working with these companies to help them develop their ideas and accelerate their growth by providing some perspectives from the U.S. market.”
Participating companies include:
· Botem creates sensor devices that collect data on people’s movements for building management and security.
· Brew.Glass is developing an advanced recommendation engine. Their first application was for beer and champagne recommendations.
· Coolio was founded by a team of big data scientists to develop a media content recommendation platform covering articles, audio clips, images, and videos.
· Firstar develops a smart digital switchboard to replace analog devices used in construction sites.
· Fluttr is a mobile app for sharing travel experiences with fellow travelers. Users can create a photo diary and a bucket list of places to visit.
· ForceEdu is developing a job recruiting playform where candidates receive on-the-job training online so that companies can save time providing initial education to new hires.
· Holzack is developing an e-commerce platform for brand name shoes in the tradition of Zappos, which does not exist in South Korea or China.
· RNSLab has developed low-power, chip-based carbon dioxide sensors. Their chips have built-in wireless connectivity, which makes retrofitting existing appliances easy.
· Standard Energy makes large capacity redox flow batteries. Their batteries range from 5KWh-1MWh and are used for energy storage and backup in industrial applications.
· Zoomanzi is a mobile platform that matches students with foreign language tutors. Students use an app to search for appropriate tutors and initiate sessions.
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 Partner, Damian Manning.
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
PR Contact: Laurie Jakobsen