Supported by the Korean Ministry of Science and ICT, the full-cycle service platform signed a Memorandum of Understanding with Tomorrow Street to advance the growth of global deep tech companies.
Although South Korea is a promising startup nation in its own right, its influence on Luxembourg has been scattered at best. The new partnership signed by Born2Global and Tomorrow Street on 26 October aims to change this.
The agreement between the South Korean, ministry-backed, startup and scaleup agency, which calls itself a “tech curator”, and Tomorrow Street will see both parties cooperate through matchmaking activities, partnership models and tech-related events.
The focus of this partnership will be on supporting promising global deep tech companies and helping them find suitable partners.
“We are happy that our partnership with Tomorrow Street will help the global innovation growth of leading deep tech companies more intensively,” said Jong-gap Kim, head of the B2G Centre, adding: “We work with companies that are ready for global business. If there is no demand we don’t select them.”
Founded in 2017, Tomorrow Street was established as a joint venture between Vodafone and the Luxembourg government and aims to supply different technologies to Vodafone according to their demand and incubate technology startups that can settle in the European market.
In addition to signing a MoU, five Korean companies – 4dreplay, VestellaLab, Machbase, 4STEC, and Codepresso – were also present at Arch Summit.
Having the backing of an ecosystem which has 50 accelerators, 170 VCs, spent $1.4bn on supporting startups in 2021 and produces thousands of new startups yearly will surely benefit Tomorrow Street and by extension the Luxembourg ecosystem.
