Hanwha, a South Korea-based conglomerate, has created the DreamPlus Alliance of accelerators in order to tap into Asia’s startup ecosystem and offer funding to companies as they graduate.
DreamPlus has selected Shui On Group subsidiary Innospace and Cyril Eberswiler’s Chinaccelerator as its Chinese accelerators; its own DreamPlus Accelerator in Korea; Open Network Lab in Japan; Pinehurst Advisors in Taiwan; Ideosource in Indonesia; Mad Incubator in Malaysia; IdeaSpace Foundation in Philippines; FatFish Group in Singapore; M8VC in Thailand; Egg in Vietnam; and GSF in India.
The demo day competition, to be held on October 3 and 4, will host 11 start-ups from the different accelerators with the winner set to receive $300,000.
For others, start-ups may receive investments ranging from $20,000 at seed stage to more than $200,000 for those looking to expand businesses overseas, alongside other support.