With its high smartphone penetration rate, extremely speedy broadband, and government support, South Korea’s startup ecosystem is one of the most notable in Asia.
SparkLabs, one of Seoul’s top accelerators is hoping its fifth batch will produce new success stories (alumni include online beauty product retailer Memebox, another one of Korea’s top-funded startups).
The twelve companies that presented during its Demo Day today include two security companies that have the potential to expand globally: Lockin, which wants to make it easier for developers to integrate cloud-based security into their Android apps, and Qubit Security, which operates a hacking detection platform called Plura to sniffs out attacks as soon as they happen.
On the consumer side, streaming site DropBeat wants to become the top source for electronic dance music, while Way, a device that helps users customize skincare regimens, has raised $105,000, more than twice its target, on Indiegogo.
Other companies include: LoanVi, a peer-to-peer lending platform and SparkLabs’ first investment in Vietnam; Genoplan, which uses genetic testing to customize fitness and nutrition programs; PiQuant, a food-tech startup that checks for melamine in milk and plans to target countries like China where food safety is a major concern; wearable products maker Leemyungsu Design Lab (its first product is a backpack for cyclists); Townus, a group-buying platform for university students; social network-based job recruiting platform Wanted Lab; holographic virtual reality developer DoubleMe; and Evain, which filters out spam and phishing phone calls.
Treeplanet, which participated in SparkLabs’ fourth class but showcased its product at today’s event, is a crowdfunding platform for reforestation projects.