Seoul, Nov. 7, 2014: Well-known Korean startup accelerator SparkLabs has signed a partnership agreement with the company behind South Korea’s US $35 billion Songdo International Business District to launch their new Internet of Things (IoT) Accelerator in Songdo early 2015.
The company said in a statement that the Songdo International Business District (Songdo IBD), a “smart” city built on 1,500 acres (6 sq km) of reclaimed land, near the Incheon International Airport, is widely viewed as one of the world’s most technologically advanced and environmentally responsible cities. In partnership with Korean and US companies such as Cisco Systems, LG CNS and ADT Caps, the city was already serving as as a test bed for both public and private “smart” city solutions, services and technologies.
“Songdo IBD provides a robust test bed of more than 35,000 residents, and within one of the most technologically advanced and wired cities in the world,” explained HanJoo Lee, Co-founder and General Partner at SparkLabs. The new IoT program from SparkLabs will be open to any startup in the world and plans to be housed in both Seoul and Songdo.
“This partnership builds on our existing ecosystem of world-class corporate, governmental, and academic partners. With the IoT accelerator pioneering cutting-edge technologies in Songdo IBD, we are confident that our population of early adopters will embrace the new technologies that are developed by SparkLabs,” said Stan Gale, Chairman of New Songdo International City Development (NSIC).
About Songdo IBD
Songdo International Business District (Songdo IBD) is nearly 60 per cent complete. It has garnered global acclaim for its environmentally sustainable design, engineering, and construction practices, in adherence to the US Green Building Council’s LEED certification system. The New Songdo International City Development, the company developing Songdo IBD, is a joint venture of New York-based Gale International and Korea-based POSCO E&C.
About SparkLabs
SparkLabs was founded by entrepreneurs for entrepreneurs in South Korea. The focus is on startup companies from the Internet, Online gaming, mobile, ecommerce, digital media, and healthcare sectors.
Check out this video on the making of Songdo, the smart city