By Hyunjin Choi

 

LAC-Korea Startup Fund(Latin America and the Caribbean-Korea Startup Fund) with USD 50 million will be established for investing in Korean and Latin American startups.

 

Born2Global Centre(Chief Executive Director Jongkap Kim) announced on August 14th that the IDB Lab, an innovation lab of Inter-American Development Bank(IDB), will form a fund for LAC-Korea. The size of fund is estimated to start from a minimum of USD 50 million. Through this fund formation, Born2Global Centre(Born2Global) will serve as a bridge for Korean startups to enter the Latin American markets. 

 

In particular, the fund is going to focus on startup investments from early stage to Series B. Considering the growth potential in the Latin American markets, the main investment areas are FinTech, EdTech, HealthTech, Wellness, Biotech, CreativeTech, AgTech, Cleantech, Marketplace, E-commerce, LogisticsTech, and Mobility. Investment targets include LAC-Korea joint ventures, Korean and LAC startups operating in, or planning to expand into LatAm and Korean markets.

 

According to the IDB Lab, the amount of investments in Latin America has been consistently increasing. In 2018, it marked USD 2 billion, doubling from USD 1.1 billion in the previous year. Investment execution count in LAC also increased by 86 percent (249 cases in 2017 to 463 cases in 2018). With this brisk pace of investments, the number of unicorns in LAC has reached 16 companies including Stone, Rappi, and Arco. 

 

Startup investment status in Latin America

 

SoftBank, the Japanese multinational conglomerate, has actively jumped in LAC startup investment in March by creating an LAC fund worth USD 5 billion.

 

“The countries driving the current LAC startup investment ecosystem are Brazil, Mexico, Chile, Columbia, Argentina, and Peru. They are concentrating on local startups for finance, marketplace, logistics, distribution, shipping, agriculture, and education. Despite their effort to create an active startup ecosystem, they still lack in technological advanced startups. From a different point of view, the dearth of tech-based startups can be an opportunity for Korean startups to advance and mature in LAC regions, especially with this LAC-Korea Startup Fund,” said Mr. Jongkap Kim, the chief executive director of the Born2Global Centre.


 

“This fund is expected to play an important role as a driving force for startups to successfully enter the LAC region by multidisciplinary scaleups as well as giving a financial boost,” added Mr. Kim.

 

Born2Global Centre is planning to help Korean startups advance into LAC markets in addition to LAC startups to expand operations in the Korean market. It is going to sustain cooperative relations with IDB Lab and venture capitalists by sharing information and consultancy.

 

IDB is seeking a devoted General Partner(GP) for this LAC-Korea Startup Fund from both Korea and LAC regions. The selected GP will make all financial, legal, and operational decisions for the Fund and the successful candidate should be able to operate a global fund partnership between LAC and Korea. Proven experience with startup investing in LAC region and/or Korea will be preferred. Firms are encouraged to submit an Expression of Interest by September 23rd, 2019. Any inquiries can be accepted by susanaro@iadb.org, gyoungc@iadb.org, jeehyony@iadb.org. The selection will be finalized by the end of the year.

 

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Kiwontech will soon be launching its AI-integrated email security solution platform in Japan.

 

A member company of the K-ICT Born2Global Centre, Kiwontech recently announced that it will be expanding sales of its AI email security solution platform in Japan as part of a business partnership with Taiyo Tsushin Kogyo, with which Kiwontech signed an MOU in March. The value of the platform is expected to exceed USD 200,000 (approx. JPY 20 million).

Kiwontech is currently operating its email security platform business in Japan in cooperation with the medium-sized webhosting company Fairway, which is acting as its distributor in the country. The products being sold include an email system and sender/receiver security.

Developed entirely independently by Kiwontech, SCM GUARD is a personnel optimization AI email security solution, checking every user's received and outgoing email information. It detects malicious emails utilizing AI despite of receiving many large attachment files at same time. The AI engine blocks new kinds of ransomware and malicious code by verifying the number of cases that can be activated when a user opens an email.

Kiwontech CEO Kim Dong-cheol said, "SCM GUARD has a function that analyzes and screens various potential threats posed by unprocessed electronic mail and can preemptively detect emails that display any suspicious characteristics, such as those related to APT attacks or spear phishing, or have any other features that are out of the ordinary. Thanks to SCM GUARD's ability to screen malicious emails that appear to have been sent from actual addresses, we believe that the product will be highly welcomed in Japan. Going forward, we will continue to do our best to ensure that our AI email security solution platform enters the global market as soon as possible."

Starting with Taiyo Tsushin Kogyo, a manufacturer and seller of materials for the construction of telecommunications infrastructure, Kiwontech hopes to steadily expand its business activities in Japan by creating a sponsorship group that includes Iroku, Notoice, Tetris, PR Soft, and UNIARK.

The seminar on SCM GUARD will be held on the 15th at 16:30~18:30 of this month at Osaka Building 6F, MJE WORK seminar room in Osaka.

 

 

 

 


 

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AI-integrated Email Security Solution

        

 

 

 

 

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