'Microsoft Launcher' to offer support to Korean start-ups on the global stage

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'Microsoft Launcher' to offer support to Korean start-ups on the global stage

Published: 29 Aug. 2022, 15:42

Ahmed Mazhari, the president of Microsoft Asia, explains the Microsoft Launcher start-up support program in a press conference held on Monday, central Seoul. [MICROSOFT]

Microsoft will help Korean start-ups grow on the global stage with its new support program “Microsoft Launcher,” Microsoft Asia President Ahmed Mazhari said in a press conference on Monday.

“Korea is one of the most technologically advanced and dynamic markets in the world already,” Mazhari said. “It just needs a platform to help take start-ups into the global market and that’s what we plan to do as one of the most mature companies in the tech market.”

Through the support program, Microsoft Korea will choose start-ups that will be able to use Microsoft’s tools and partnered networks for free.

Chosen companies will be given up to 500 million won ($370,460) worth of Microsoft software, including Microsoft Azure cloud service, Microsoft 365 programs, GitHub open source code reservoir and OpenAI GPT-3, a language-based artificial intelligence (AI) model.

Microsoft employees will become mentors to start-ups to give advice on business and administration strategies. Companies will also be able to use Supercode, a human resources service for developers partnered with Microsoft Korea, to recruit local developers free of charge.

Start-ups with less than 10 employees can apply for rent-free office space for six-months inside Microsoft’s co-working space in Seoul and Busan. Companies will also be given regular chances to pitch their ideas to venture capitalists, including Microsoft’s venture fund M12.

The number of start-ups that Microsoft Korea will chose has not been decided.

Lee Ji-eun, the general manager of Microsoft Korea, gives a welcoming remark to local reporters in a press conference held on Monday, central Seoul. [MICROSOFT]

Start-ups seeking to release software-based products or service developments that have not received series D funding can apply, but not those that have already received support from the government or other companies. Bitcoin mining companies and companies that have already received the Microsoft for Startups benefits are also ineligible.

“Korea has emerged over the decades not only as a manufacturing center but for mobile, TV, consumer, auto, battery and steel,” Mazhari said. “Just yesterday, I read that Hyundai is the world’s No. 2 electric vehicle maker in the world outside of China. Korea is at the forefront of technology development and we are motivated to be a part of that journey as a global ICT center in AI, content, tech, data and metaverse.”

Last March, Microsoft introduced the Microsoft for Startups Founders Hub, a global start-up support program. Microsoft Korea has been working with the Korean Ministry of SMEs and Startups to provide 30 local start-ups in the cloud sector with consultations and credits for Microsoft tools.

“Korea’s digital innovation and growth are attracting worldwide attention, and Microsoft Korea will be aiming to make our very own start-up ecosystem to secure Korea's role and competitiveness on the global stage,” said Lee Ji-eun, general manager of Microsoft Korea. “Through Microsoft Launcher, which has been created based on our own unique environment, we will empower promising local startups to create a sustainable ecosystem while overcoming technical or financial barriers.”

BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]