NEW YORK--(BUSINESS WIRE)--Digital Entertainment Ventures (DEV), an early stage venture capital and advisory firm, and its Seoul-based partner, DEV Korea, have selected the first six companies for investment through its DEV Korea Discovery Fund and accelerator program, also announced today in a separate release. This includes an initial orientation and hands-on acceleration program kicked-off in Seoul to prepare the startups for an intensive month in New York City so they can get first-hand experience with U.S. business culture and entrepreneurship.
The first group, which just arrived in New York, is Contents First, Richslide, and Mushroom, and the second, arriving November 10, will include Soundmate, PinStory, and Goonies, with two more companies expected to be added. They will base their operations for their time in New York at the co-working space AlleyNYC.
“We have picked such a strong group of companies for the debut for the DEV Korea Discovery Fund’s accelerator program,” said Alan McGlade, founder and Managing Director of DEV. “We are looking for strong teams with a working product that want to establish a global presence. While many of the founders may have spent some time in the U.S., this is the opportunity for them to be immersed in New York’s tech scene to make the connections that will fast-track their development.”
More about the first DEV Korea Discovery Fund investments:
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Contents First is a market creator in the online digital comics industry. It provides a platform, TappyToon, that lowers language barriers, maintains quality translations and provides global audience quick and convenient access to international comics. |
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Richslide is media signage platform that connects users, hardware and advertisers. Signage systems are typically hardware-based so it is difficult to change the content of an advertisement once it is in place. Richslide provides a software-based platform that optimizes the process of delivering an advertisement to a screen. Advertisers can remotely manage their content and this management system allows Richslide to collect and analyze data that was previously unavailable. |
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Mushroom: Traditionally the art rental market has been limited to expensive works of mainstream artists and limited by curators’ recommendations. Mushroom breaks down the art rental market’s entry and participation barriers that have existed for centuries by establishing a market for regular Joes and indie artists. |
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Soundmate is a music social networking service that takes user interaction to the next level. At its core, Soundmate is built to enable users to express and share their emotions in real-time via simultaneous broadcasting. |
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PinStory is an online and mobile business review platform targeted at fast-growing markets in Asia. PinStory has a unique approach to the local directory market based on members’ deep experiences throughout Asia. |
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Goonies is a pioneer in developing educational tablet devices for children and a true integrator of technology and education. Their first product is a ‘connected’ board-form palette that houses tablet devices as its canvas. |
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About DEV (Digital Entertainment Ventures)
Launched in April 2012 and headquartered in New York City, DEV provides guidance, seed and early stage capital to companies building the next generation of digital services that are transforming media and entertainment. DEV is managed by seasoned media and venture executives Alan McGlade, Michael Yang and Swatick Majumdar and its Venture Partner, Damian Manning. Recent successes include the acquisition of early DEV Fund investment Human Demand by IgnitionOne. In 2014, DEV established offices in South Korea to better take advantage of its growing creative economy and spring-board investments to the global stage. Visit DEV on the web at www.devny.vc.
