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6 Startups at Google Campus Seoul Attract KRW 2.8 B Investment in H1

According to Yonhap News,

(SEOUL=Yonhap News) Six South Korean startups from Campus Seoul, the first Asian campus set up by U.S. Internet giant Google Inc., have attracted investment worth 2.8 billion won (US$2.5 million) during the first half of this year, the company said Wednesday.

The campus, which opened in May 2015 in the posh Gangnam district of southern Seoul, offers various facilities, from co-working spaces and accelerator programs to meeting rooms.

The six companies moved into the campus in January and the number of employees at the firms has jumped 30 percent during the cited period, Google said.

"A total of 22 startups have graduated from this program since the campus opened in 2015," Cho Yoon-min, manager of Campus Seoul. "The campus has attracted investments worth over 34.7 billion won and tripled the number of employees."

One of the startups is virtual reality (VR) streaming provider Alcacruz, which has developed an innovative VR video streaming technology called Superstream LIVE.

"It is the first VR streaming solution able to stream live 6K VR video in 360 degrees, with less than a 10-second delay between the actual event and the user receiving the video," Kang Seo-young, an engineer at the company, said.

The technology can stream the highest quality VR videos with the lowest data rate, Kang said. Alcacruz is currently in the final stages of live streaming 6K VR video worldwide.

The campus selects promising startups every six months and provides a workplace that can house up to eight people from each company.

The campus is Google's third for startups after Campus London, which opened in March 2012, and Campus Tel Aviv in Israel, which launched in December 2012. Google has added more campuses in Spain, Brazil and Poland, bringing the total to six globally.

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Source Text

** This article was translated from Korean.

Source: Yonhap News (June 20, 2018)

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