1 Articles for 'Venture'
- 2007/08/31 Litmus tries to be Korea's Y Combinator
Softbank Korea Media Lab, a subsidiary of Softbank Ventures headed by Bobby Ryu (my good acquaintance and a former Samsung colleague), is rolling out a startup incubation + seed investment program called Litmus.
The picture above describes how Litmus startup incubation process works. When Litmus team receives a business plan, they review the b-plan thoroughly to assess potential and feasibility (hence the name Litmus); The business plans that have passed this initial stage get incubated through closed beta (yellow), open beta (purple), service open (blue), and "graduation" (red).
Litmus doesn't quite exactly have the collegerial, cool feeling of Y-combinator, but like Y-combinator it is firmly focused on early-stage startups. Softbank Ventures Korea, having raised some big venture funds, certainly have money to spend on capable startups. As far as I understand, they invest in companies outside of Korea too. If you are interested, you can send your business plan to lab at softbank dot co dot kr.
The four-step incubation program of Litmus
The picture above describes how Litmus startup incubation process works. When Litmus team receives a business plan, they review the b-plan thoroughly to assess potential and feasibility (hence the name Litmus); The business plans that have passed this initial stage get incubated through closed beta (yellow), open beta (purple), service open (blue), and "graduation" (red).
Litmus doesn't quite exactly have the collegerial, cool feeling of Y-combinator, but like Y-combinator it is firmly focused on early-stage startups. Softbank Ventures Korea, having raised some big venture funds, certainly have money to spend on capable startups. As far as I understand, they invest in companies outside of Korea too. If you are interested, you can send your business plan to lab at softbank dot co dot kr.
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