SEOUL, South Korea, Aug. 6, 2019 /PRNewswire/ -- KB Financial Group (KBFG), Korea's leading bank and financial services provider, has announced a strategic partnership with Plug and Play to join as an Anchor Partner in Silicon Valley and help KB Starters (KBFG's membership startups for open-innovation) grow from a domestic to global champion.
As the largest innovation platform in the world, Plug and Play has supported many great startups and corporations within their network throughout the world. Plug and Play accelerated over 1,100 startups in 2018, has a presence in around 30 locations worldwide, and developed more than 300 corporate partnerships globally. Plug and Play was also selected as the most active VC by number of deals in 2018.
The beginning of this partnership dates back to April 2019. With an invitation to the forum held in Silicon Valley, Jong-Kyoo Yoon, Chairman & CEO of the KBFG, visited Plug and Play's headquarters in Silicon Valley and had the chance to look at the accelerator space and program in detail.
After that, KBFG and Plug and Play decided to start a strategic partnership to open a two-way channel to support Korean startups expanding abroad and international startups to enter the Korean market regularly.
"We're thrilled to work with one of the most innovative financial institutions in the world to bring new innovations to market," said Saeed Amidi, Founder and CEO of Plug and Play.
Jong-Kyoo Yoon also said, "This partnership with Plug and Play will become an important stepping stone for Korean startups to enter the Silicon Valley ecosystem and grow into global companies."
KB Financial Group is Korea's No.1 financial service provider offering broad range of financial products and services. The group was founded in 2008 to enable better services, growth of clients and deliver values in a rapidly changing Korea financial environment. Under the group, there are 12 subsidiaries including: KB Kookmin Bank, KB Securities, KB Insurance, KB Kookmin Card, KB Asset Management, KB Capital, KB Life Insurance, KB Real Estate Trust, KB Saving Bank, KB investment, KB Data Systems and KB Credit Information. Through our various area of businesses, we are providing integrated values to our clients to help achieving their goals.
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Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since our inception in 2006, our programs have expanded worldwide to include a presence in over 30 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 300 official corporate partners, we have created the ultimate startup Protected ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club and PayPal. For more information, visit www.plugandplaytechcenter.com.