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Singapore, 21st October 2024. Four months after the graduation of two startups, Quantit and Altero Labs, from the KB Acceleration Program earlier this year, KBFG , Korea’s leading financial services provider, and Tenity have once again joined hands to commence their second 3-week acceleration program of the year starting in October.
This cohort invites four startups, Cliwant, DolbomDream , HIKIVE and Linq Alpha , from diverse industries: blockchain, finance, healthcare and artificial intelligence. With the aim of encouraging and facilitating market expansion to Singapore, the accelerator comprises of sessions such as understanding intercultural differences between Singapore and South Korea, building a global brand for the startup, navigating the regulatory landscape in Singapore as well as fireside chats with Korean startups who have successfully raised local fundings.
In addition to these joint sessions focusing on practical market insights and strategies, the program is also highly tailored towards each startup as they receive distinct workshops to help address their startup-specific issues. There is also the opportunity to access multiple 1:1 coaching session throughout each week of the program.
Such an interest towards a Singapore expansion is justifiable given its success with startups. Singapore has produced 15 unicorn companies, valued at $88.9 billion. It also ranked 13th globally in the startup ecosystem by Startup Genome. Not to mention, VC investment totaled $6.1 billion last year making the nation even more attractive to international startups.
Julie Choi, Partner Director at Tenity, mentioned “Working with KBFG has been an incredible experience. The Tenity team has had the unique opportunity to engage directly with some of South Korea’s most promising startups. We’re beyond excited to help spark and facilitate their budding partnerships with local partners here in Singapore.”
Following KBFG’s successful collaboration with Tenity for two years in a row to support Korean startups in their market entry to Singapore,
A KB official further said, "Tenity is a fintech-specific AC company, but its biggest advantage is that it organizes education programs tailored to the growth stage and needs of startups, and the response of KB Financial Group's nurturing companies that have completed training is very good, and it is well established as a beneficial program for startups preparing to enter Singapore. We look forward to better cooperative relations in the future."
KB Financial Group is Korea’s leading financial services provider offering a broad range of financial products and services.
KB Financial Group provides a broad range of financial services and products offered by its 12 fully owned subsidiaries including: KB Kookmin Bank, KB Securities, KB Insurance, KB Kookmin Card, KB Life Insurance, KB Asset Management, KB Capital, KB Real Estate Trust, KB Savings Bank, KB Investment, KB Data Systems and KB Credit Information.
Tenity is a leading global innovation ecosystem and early-stage VC with offices in Zurich, Singapore, Tallinn, Madrid, London, and Istanbul. Tenity's vision is to accelerate the future of finance and beyond by bringing together ambitious founders with leading companies, investors, and mentors. Today, Tenity counts six hubs, runs corporate innovation programs in more than 15 countries, has worked with 65+ corporate partners and has supported more than 1600 startups through its programs.