N15 Partners stated that they had signed a Memorandum of Understanding with Silicon Valley aerospace specialized accelerator Starbust regarding stimulating the Korean Start-up ecosystem along with an aerospace-focused entrepreneurship ecosystem.
This MOU served as a momentum for N15 Partners to share its knowledge of accelerating and incubating strategies and tactics. In contrast, Starbust shared its technical expertise on aerospace technologies and regional expertise in Europe and North America region. Furthermore, N15 Partners and Starbust will exchange their business details and work on a joint program to boost both Korean, European, and American startup growth. Throughout the consortium partnership, they plan to operate future business co-venture and promote global networks for deal-sourcing enhancement and broadening the start-up ecosystem worldwide.
N15 Partners was founded in 2015 as a registered accelerator by the Ministry of SMEs and startups in South Korea, dedicated to helping the entrepreneurship ecosystem by assisting start-up growth. They specialize in Accelerating Program, helping early-stage startups’ growth, and Open-Innovation Program, building a platform for startups and conglomerates to work together for creative solutions with more than 40 active programs annually. Throughout these programs, N15 Partners has invested in 36 start-ups with 4 successful exits through M&A and IPO. With over 50 clients and partners consisting of conglomerates and government entities, N15 Partners is currently working with the Embassy of United Arab Emirates in Seoul, hosting the ‘Eco-Bridge Program’ helping Korean start-ups expand towards the Emirates and as part of the program, they will host ‘Eco-Bridge Competition Event at upcoming December 22nd.
Starbust is the only global startup accelerator focused on the aerospace sector founded in 2012 in France with eight branches worldwide, including the United States and South Korea. They are leading the aerospace industry with over 120 startups under their accelerating program within 12 countries, with 13 start-ups that hit a milestone of the corporate value of 100M USD. Among the 13 start-ups, Momentus, a rocket propulsion company providing services as ‘Space Tow-Truck’ helping satellites to arrive at adequate orbit, has hit a 1.2Bn USD valuation within four years.
N15 Partners CEO Jae Huh, Starbust U.S Francois Chopard, and Starbust Korea Branch CEO Sangdon Kim met K-UAM Confex, Biz Salon hosted at Incheon Paradise City hotel last November and discussed how to support global startups with creative ideas at this turning point for industry 4.0. CEO Huh has also stated that it is crucial to build a sustainable ecosystem for start-ups with brilliant ideas and new technologies.
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