TechForGood an Israeli incubator/accelerator and impact investment organization, has built a unique accelerator program for Korean startups and entrepreneurs. In addition, they are also the official Israeli partners of KISED (Korean Institute of Startups & Entrepreneurship Development) to create this special accelerator program that targets Korean startups. As global challenges become increasingly complex, the demand for social and environmental innovation has risen. Therefore, the focus of many entrepreneurs and capital providers has shifted to these new market opportunities. TechforGood and KISED have focused on bringing Korean startups to Israel as they are well-positioned to address these challenges through sustainable and profitable companies. Together they hope to foster impact generating startups.
“I believe we were one of the first organizations that focused only on technology – on scaling impact generating startups. It is not within the power of a single organization to drive true change. If we want to make a real difference, we need to join with like-minded international organizations and collaborate for the greater good,” said the Co-CEO of TechForGood, Nir Shimony.
KISED has identified Israel’s booming innovation ecosystem as an opportunity for innovative technology-based startups in Korea to learn how to scale internationally. Therefore, this would be a great opportunity for startups in Korea to prepare themselves for entering new markets.
Israel’s Startup Ecosystem
The startup ecosystem in Israel is now world-renowned. It is a global leader in technology innovation. They have the largest number of startups per capita in the world. They have delivered some of the world’s greatest companies and technological innovations and earned the title of “Startup Nation”. In addition, they have the highest number of VC investment per capita in the world.
For example, TechForGood’s investment arm 2030 Ventures, specializes in impact investments. Their startups have scaled globally, raised millions of dollars, with valuations of over $400 million, and are now using TechForGood’s methodology to integrate, scale, and measure their impact. Furthermore, TechForGood hosts the Israel Impact Summit, which is one of the largest tech-for-impact events in the world. The Israel Impact Summit is a large international conference focusing on impact and technology. Therefore, every year it draws impact investors from all around the world as well as hundreds of entrepreneurs, delegations, and corporate leaders.
TechForGood – Accelerating Startups
TechForGood founded in 2015, manages multiple acceleration and incubation programs in Israel. They cover a wide range of verticals. The startups in the program are provided with:
- strategic consultation
- capacity building
- professional workshops
- personal mentoring
- access to investors
- support in scaling and a like-minded community
TechForGood’s activities are supported by its strong international and national network of investors, startups, corporations, professional organizations, and government entities. In addition, some of their corporate partners and clients include companies such as Microsoft, Bank Leumi, Yakhin, Procter & Gamble, and Kimberly Clark and more. Furthermore, TechForGood International offers Bootcamp programs for international startups or ecosystem leaders. Therefore, these programs focus on scaling innovative impact technologies and sharing tools and best practices from Israel.
TechForGood Korea
TechForGood specializes in preparing impact IT startups for investment and international growth. Therefore they have partnered with KISED to create an accelerator program for Korean entrepreneurs and startups for 2020. In addition, the program will be mostly subsidized for selected Korean startups. Last year, 10 Korean startups came to Israel for the 6-week accelerator program.
Participants in the TechForGood Korea program will:
- Benefit from TechForGood’s established partners
- Gain an extensive network of mentors, domain experts, and investors
- Form meaningful business relationships in Israel
- Learn about international markets
- Perfect their business models & go-to-market strategy
- Prepare to globally scale their companies
- Understand international investors
- Improve their fundraising capabilities
- Implement Israeli startup best practices
Key Programs at TechForGood
Networking opportunities
TechForGood hosts many networking events throughout the year. These networking events have resulted in collaborations between Israeli startups and Korean startups.
Investment readiness
Korean startups will go through extensive training that will help them improve their fundraising capabilities.
Impact modeling
TechForGood works with each Korean startup to build its own impact model and embed it into their business model.
Innovation Visa by the IIA
TechForGood is a selected launchpad for those interested in an Innovation Visa. The Innovation Visa is granted by the Israeli Innovation Authority.
Tours and excursions
Korean startups that want to physically meet and interact with investors, unicorns, academic leaders, and entrepreneurs in Israel can do so through TechForGood Innovation tours.
TechForGood Program Overview
Korean startups that have a product or service and are looking to scale globally should apply to this accelerator program. The first 6-weeks will be in Israel. In addition, they will hold multiple sessions and these sessions will be given by some of the top Israeli in the field.
Topics covered include:
- Scaling your startup
- International customers
- Breaking International Markets
- Go-to-Market Strategies
- Sales Skills
- Cross-Cultural Negotiation Skills
- Business Models
- Working with Corporates
- Identifying your Stakeholders
- Developing your Roadmap
- Mapping Global Prizes
- Personal mentoring/consultations
- Networking and Introduction Opportunites
- Fundraising
- International Investor Relations
In addition, after the 6-weeks program, a few Korean startups will be selected to attend the Core Program and New York week in the United States.
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