New Technology World

Microsoft Asia President Ahmed Mazhari describes the Microsoft Launcher startup support program at a press conference in central Seoul on Monday. [MICROSOFT]

Microsoft will help South Korean startups grow on the global stage through its new support program, Microsoft Launcher, said Ahmed Mazhari, president of Microsoft Asia, at a press conference on Monday.

“South Korea is already one of the most technologically advanced and dynamic markets in the world,” said Mazhari. “We just need a platform that helps start-ups enter the global marketplace, and that’s what we plan to do as one of the most mature companies in the technology market.”

Through the support program, Microsoft Korea selects startups that can use Microsoft tools and partner networks for free.

Selected companies include Microsoft, worth up to 500 million won ($370,460), including Microsoft Azure cloud services, Microsoft 365 program, GitHub open source code reservoir, and OpenAI GPT-3, a language-based artificial intelligence (AI) model. Software is given.

Microsoft employees serve as startup mentors and provide advice on business and management strategies. Companies can also hire local developers for free using Supercode, a developer recruitment service partnered with Microsoft Korea.

Startups with less than 10 employees can apply for six months of free office space rental within Microsoft’s coworking spaces in Seoul and Busan. Companies are also regularly given the opportunity to pitch their ideas to venture capitalists such as Microsoft’s venture fund M12.

The number of startups selected by Microsoft Korea has not been decided.

Lee Ji-eun, general manager of Microsoft Korea, welcomes local reporters at a press conference in central Seoul on Monday. [MICROSOFT]

Startups looking to release software-based product or service development that have not received Series D funding are eligible to apply, but startups already receiving government or other corporate backing are not. Bitcoin mining companies and companies that have already received Microsoft for Startups benefits are also not eligible.

“For decades, South Korea has emerged not only as a manufacturing center, but also as a hub for mobile, TV, consumer, automotive, battery and steel,” Mazari said. “Just yesterday, I read an article that Hyundai is the world’s second largest electric car maker outside of China. As an ICT center, we are eager to be part of that journey.”

Last March, Microsoft introduced the Microsoft for Startups Founders Hub, a global startup support program. Microsoft Korea is working with his Ministry of SMEs and Startups in South Korea to provide consulting and credits for Microsoft tools to 30 local startups in the cloud sector.

“South Korea’s digital innovation and growth are garnering global attention, and Microsoft Korea aims to build a unique startup ecosystem to ensure South Korea’s role and competitiveness on the global stage. “Through the Microsoft Launcher, built on our unique environment, we enable promising local startups to overcome technical or financial barriers while creating a sustainable ecosystem.”

Yoon So Young [yoon.soyeon@joongang.co.kr]