(Milwaukee, Wis) – The Daegu Gyoungbok Institute of Science and Technology (DGIST), in partnership with Greenpoint Asset Management and the Midwest Energy Research Consortium (M-WERC), is creating a new business accelerator with a significant international business component that will promote foreign direct investment in Wisconsin and exports to the Far East.
The accelerator will establish a base of international business relationships that will help early stage high-tech companies from both the United States and South Korea take advantage of Milwaukee’s growing export platforms to accelerate their customer discovery processes both domestically and abroad.
In recent years, officials from southeast Wisconsin have focused on the benefits of export platforms as a model for economic development and growth. By working together with DGIST, M-WERC and Greenpoint Asset Management, startup companies from both the US and South Korea will have a chance to explore various business initiatives.
Program participants will have the opportunity to pursue one or more of the following goals:
1.Sell products directly to end customers in the US or the Western Hemisphere.
2. Find channel distribution partners who can sell products in the US or Western Hemisphere.
3. Develop joint go-to-market strategy or Joint Venture with partners in US and South Korea.
4. Set up a factory in Milwaukee.
5. Raise angel or venture capital financing.
6. Find new sources of products, which can be purchased here and brought back to Korea.
The program, all ten Korean teams will interface with the third cohort of M-WERC’s WERCBench Labs business accelerator program in M-WERC’s Milwaukee headquarters. The four-week Korean program begins in October and runs contiguously with the US-based twelve-week program.
For more information on Greenpoint Asset Management, DGIST, M-WERC and WERCBench Labs check out our recent blog post that talks more about this program.