Colorado-based global startup accelerator Techstars said on July 10 it plans to launch an accelerator program in South Korea from June 2020 through September.

The three-month mentorship-driven accelerator program will mark Techstars’ first presence in Korea. It has teamed up with Hillstone Partners, a Seoul-based boutique capital consultancy firm specializing in startup businesses.

The program will source 10 startups each year. The accelerator said it hopes to recruit startups focused on digital and tech innovation across a variety of business verticals. Applications open in December.

It will be hosted at the Pangyo Techno Valley campus, an innovation hub in Gyeonggi Province devoted to information technology, biotech, cultural tech and fusion tech.

“Korea’s booming startup sector and Pangyo’s thriving tech ecosystem are perfect for this accelerator program,” said Will Robinson, vice president Asia-Pacific sales at Techstars.

Since launching its first Asian operation in Singapore in 2017, Techstars has run programs in other Asian cities including Tel Aviv, Israel; Dubai, United Arab Emirates; and Bangalore, India.

Techstars’ accelerator portfolio includes over 1,700 companies with a combined market cap of some $20 billion. Program participants are given a chance to network with other entrepreneurs, experts, mentors, alumni, investors, community leaders and corporations to grow their companies.

By Son Ji-hyoung (consnow@heraldcorp.com)