|By Business Wire||
|February 20, 2014 07:31 AM EST||
SK Telecom Americas today launched SKTA Innovation Accelerator to fund and help create the essential data center and core technologies needed to meet modern computing demands. SKTA Innovation Accelerator pairs entrepreneurs with Strategic Partners and provides up to $1 million in combined funding, services and facilities. SK Telecom Americas is the business development and venture capital arm of SK Telecom, Korea’s largest wireless operator and a global technology leader, and has worked with some of the brightest minds in VC and angel investing—and some of the biggest technology companies in Silicon Valley—to design this novel new funding model.
Data and processing is increasingly being pushed into the cloud as mobile devices become the dominant computing platform for both work and play. There are more iPhones sold each day than people born in the world, and mobile devices are becoming as powerful as computers1. The Commodore 64 computer, once the most powerful PC, functioned on only 64kb of RAM, but Apple’s iPhone 5s has 1 GB of RAM. The corresponding semiconductor, hardware, management software and energy infrastructure required to keep up with these new developments is staggering, and growing exponentially as connected devices and wearables proliferate.
“Over the past decade, venture capital funding has swung to software and cloud services, and it’s no longer in vogue for VCs to invest in core technologies,” said Min Park, president of SK Telecom Americas. “We created SKTA Innovation Accelerator to fill this critical void in the technology ecosystem by pioneering a new funding model that brings financial velocity to IT infrastructure startups by enabling a quick path from concept to exit. Our model simultaneously de-risks the investment for initial investors and founders, and gives Strategic Partners early insight into new technologies that can rapidly fill holes in their product portfolio or empower them to enter new markets.”
The Innovation Matchmaker: How the Accelerator Works
SKTA Innovation Accelerator is an “innovation matchmaker” that offers a new way to seed and accelerate core technology startups by matching entrepreneurs with Strategic Partners. The goal of the Accelerator is to identify and cultivate tomorrow’s IT infrastructure solutions today, providing up to $1 million in funding composed of working capital, professional services, development tools and state-of-the-art facilities per venture to jumpstart the technology ecosystem needed to power the next wave of innovation. SKTA Innovation Accelerator matches each portfolio company with a Strategic Partner committed to providing technical and market guidance to rapidly develop a minimum-viable product for the right market segment. The Accelerator strives to provide everything entrepreneurs need to remain laser focused on transforming their idea into a venturable proof-of-concept.
During the Seed Phase of operation, the startup (together with the professionals and support teams at the Accelerator) develops the product, business plan, milestones and metrics to deliver the product to market. At this time, patents are filed, simulation data is collected and analyzed, and prototypes are built and tested. The Seed Phase should last between 6 and 12 months. At the conclusion of the Seed Phase, the projects that show the most potential will be selected to receive Series A funding and will progress on one of two exit paths:
1. Spin-In: Acquisition by Strategic Partner
2. Venture: Additional funding from traditional capital sources
“The pending rollout of the Internet-of-Things and the continued exponential growth of the Cloud require a seismic shift from the current infrastructure and how it is managed,” said Ken Lawler, senior advisor to SKTA Innovation Accelerator, renowned semiconductor investor and a founding partner of Battery Ventures’ Silicon Valley office. “The way in which people interact with the internet is about to undergo another evolutionary step. Delivering core technologies to make that step a reality is what the Innovation Accelerator is built to do.”
“SKTA Innovation Accelerator is helping to grow the broader technology ecosystem required to ensure innovation keeps pace with future demands,” said David Lee, venture partner to SK Telecom Ventures, founder and managing partner of SV Angel and an early investor in Twitter, Foursquare, Flipboard, Dropbox and Airbnb. “This new accelerator has flipped the VC funding model on its head to make it financially viable for entrepreneurs and VCs to grow the next wave of hardware-based technologies.”
For more information about SKTA Innovation Accelerator or to learn how to apply, please visit: http://sktainnopartners.com/f-a-q/.
About SKTA Innovation Accelerator
SKTA Innovation Accelerator is a different kind of accelerator based in Silicon Valley. We seed core technology startups by matching entrepreneurs with Strategic Partners committed to providing technical and market guidance for rapidly developing the minimum-viable product for the right market segment. SKTA Innovation Accelerator identifies and cultivates tomorrow’s IT infrastructure today, providing startups with up to $1 million in funding, professional services, development tools and state-of-the-art facilities to jumpstart the technology ecosystem needed to power the next wave of innovation. For more information please visit http://sktainnopartners.com/
About SK Telecom Americas
SK Telecom Americas (SKTA) is the business development and venture capital arm of SK Telecom, Korea’s largest wireless operator and a global technology leader serving 25 million customers with $16 billion in revenue. In 2011, SK Telecom was the first provider in the world to offer a publicly accessible 4G LTE network, and in 2013 it was first to offer an LTE-Advanced network.
1. “Why Mobile Matters,” Mobile First, February 21, 2012
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Apr. 26, 2017 11:15 PM EDT Reads: 2,246
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Apr. 26, 2017 11:15 PM EDT Reads: 1,324
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Apr. 26, 2017 11:00 PM EDT Reads: 2,377
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Apr. 26, 2017 10:45 PM EDT Reads: 2,401
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Apr. 26, 2017 10:45 PM EDT Reads: 680
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Apr. 26, 2017 10:15 PM EDT Reads: 1,973
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Apr. 26, 2017 10:00 PM EDT Reads: 1,369
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Apr. 26, 2017 09:45 PM EDT Reads: 2,591
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Apr. 26, 2017 09:00 PM EDT Reads: 957
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
Apr. 26, 2017 08:45 PM EDT Reads: 3,234
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Apr. 26, 2017 08:45 PM EDT Reads: 503
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Apr. 26, 2017 08:15 PM EDT Reads: 1,859
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Apr. 26, 2017 08:15 PM EDT Reads: 1,167
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Apr. 26, 2017 08:00 PM EDT Reads: 1,190
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Apr. 26, 2017 07:45 PM EDT Reads: 662