Startups from South Korea and Germany are set to benefit from enhanced collaboration and new growth opportunities as Start2 Group, the operator of the German Accelerator, signed a Memorandum of Understanding (MOU) with the Korea International Trade Association (KITA). The agreement, formalized on November 27, 2024, at Seoul’s Trade Tower, will create a bridge for startups to access each other’s ecosystems and expand globally.

The MoU ceremony was attended by key figures, including Claus Karthe, CEO of Start2 Group Asia; Inho Lee, Executive Vice Chairman of KITA; Jörn Beißert, Deputy Ambassador of the German Embassy in Korea; and Dr. Stefan Drews, Governmental Director responsible for German Accelerator at the Federal Ministry for Economic Affairs and Climate Action (BMWK).

Under the agreement, Start2 Group and KITA will mutually share resources and provide ecosystem access for startups with the aim of strengthening bilateral innovation and to foster deeper collaboration between the two countries.This MOU also complements plans by the German Accelerator to establish a dedicated office in Seoul by 2025, further enhancing its mission to support startups globally.

German Accelerator: Empowering Startups Globally

The German Accelerator, financed by the German Federal Ministry for Economic Affairs and Climate Action (BMWK) and run by Start2 Group, plays a central role in this partnership. The program supports German startups in scaling internationally through tailored mentorship, strategic market entry support, and access to extensive global networks.

“Korea International Trade Association (KITA) is a key partner to propel cross border cooperation and promote the exceptional innovation capabilities of German startups in Korea” said Dr. Stefan Drews, Governmental Director responsible for German Accelerator BMWK. “This initiative, run by entrepreneurs for entrepreneurs, reflects the commitment of both nations to advancing collaboration and driving global startup success.”

“Both Germany and South Korea are industrial champions with exceptional innovation capability, this MOU provides critical opportunities for German startups to succeed in South Korea and help to foster long-term partnerships between the two countries.” said Claus Karthe, CEO, Start2 Group Asia.

NextRise 2025: German Accelerator to Establish Seoul Office

Strengthening Startup Collaboration As part of its mission to help startups scale internationally, the German Accelerator plans to establish a dedicated office in Seoul in 2025. It will provide German startups with a gateway into Korea’s vibrant markets while offering Korean entrepreneurs access to German networks, expertise, and investment opportunities.

“The establishment of a German Accelerator office in Seoul seeks to drive cross-border innovation and promote sustainable growth for startups from Germany and South Korea,” said Jörn Beißert, Deputy Ambassador of the German Embassy in Korea. By fostering direct engagement with South Korean stakeholders—including investors, industry leaders, and government officials—the office will strengthen collaboration between the two nations.

This milestone also ties into preparations for NextRise 2025, where Germany will participate as the official partner country, further showcasing the depth of the German-Korean partnership.

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