Establishment of whole life cycle care program
Open AI credits, IR pitching opportunities, etc.
Supports up to ‘KRW 500 million' for software and service development companies
Aiding in creating a s
Microsoft (MS) Korea provides unparalleled support for domestic startups.
On the 29th, MS Korea unveiled a startup support program, 'Microsoft Launcher’.
MS Korea introduced the program that it is designed to aid the startups at various stages from the starting to expanding the businesses through relieving technical and financial constraints, and achieve success.
Microsoft established the 'Microsoft for Startups Founders Hub' based on feedback from thousands of founders around the world to create and maintain a healthy ecosystem for startups to succeed earlier this year.
MS Korea has prepared 'Microsoft Launcher' with special benefits specifically for situation in Korea. It will fully support the issues that domestic startups face through technical and financial benefits.
Any startup with an idea that centered on software-based product or service development can sign up and apply for the program regardless of the founder's background, location, or progress.
MS Korea provides benefits worth up to KRW 500 million to individual startups, including MS Azure credits, licenses, and technical support. Credits will support up to KRW 200 million ($150,000) depending on the stages, such as △ Idea (Ideate) △ Development (Develop) △ Product launch and customer acquisition (Grow) △ Market expansion (Scale).
MS Korea will also provide developer and business tools such as GitHub, Visual Studio, Microsoft 365, Power Platform, and Dynamics 365 for free of charge for one year.
MS Korea also provides an opportunity to utilize an American artificial intelligence (AI) research institute’s OpenAI AI natural language processing model ‘GPT-3' to build new products. The selected startups will also receive support for open AI credits worth KRW 1.3 million ($1,000), 3 months of open AI API licenses, and free consulting by open AI experts through a separate application
MS Korea provides various learning opportunities for startups. 'Microsoft Learn’, an online learning platform, provides 24/7 one-on-one technical advice sessions and startup-oriented education with numerous contents. The Microsoft Mentor Network also provides expert feedback and technical advice on product roadmaps, business planning, operations, and more.
MS also provides a developer competency evaluation and recruitment recommendation platform and supports the recruitment of startup developers through cooperation with ‘Supercoder’. It also provides a way to reduce the burden of rent for the first six months to startups with 10 or less employees to move into co-working places located in Seoul and Busan.
IR pitching opportunities such as enhancing IR capabilities and supporting actual investment attraction will also be prepared by arranging meetings with global venture capitalists.
Ahmed Mazhari, president of MS Asia, said, “Korea is emerging as a new startup hub in Asia, with the number of unicorn companies doubling compared to three years ago. 'Microsoft Launcher' will empower the Korean startup ecosystem by providing a reliable end-to-end (E2E) technology stack.”
Jieun Lee, CEO of MS Korea, said, “Korea’s digital innovation capabilities and growth are drawing the world’s attention. We will actively support promising domestic startups to create a sustainable ecosystem without technical and financial constraints through the 'Microsoft Launcher’.
By Staff Reporter Hyemi Kwon (hyeming@etnews.com)