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Korean AI Startup Konolabs Selected for Singaporean NTUC Income’s Accelerator Program
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Korean AI Startup Konolabs Selected for Singaporean NTUC Income’s Accelerator Program
  • By Lee Song-hoon
  • November 17, 2016, 04:00
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Only nine startups among more than 190 startups from 20 countries made the final cut for the Singaporean accelerator program “Income Future Starter, Powered by TAG.PASS” in Oct, including a Korean AI startup Konolabs.
Only nine startups among more than 190 startups from 20 countries made the final cut for the Singaporean accelerator program “Income Future Starter, Powered by TAG.PASS” in Oct, including a Korean AI startup Konolabs.

 

Singapore’s leading insurance provider NTUC Income announced on Nov. 14 that a Korean AI startup Konolabs (http://kono.ai, CEO: YJ Min) has been selected for the first batch of its accelerator program “Income Future Starter, Powered by TAG.PASS.”

The program is launched in partnership with Infocomm Investments Private Ltd (IIPL), a Singaporean government-owned investment arm. More than 190 startups from 20 countries applied for the program in October, and only 9 startups made the cut. This 11-week program aims to support and nurture startups with strong potentials to innovate the insurance industry.

Each of the nine teams will receive SGD $28,000 (USD $21,000) equity-free entrepreneur grant, in addition to mentorship from relevant specialists with strong industry insights and potential partnership with NTUC Income, IIPL, Philips and KPMG.

Konolabs launched its email bot scheduling service in beta in Singapore since July this year. The company has been seeking business opportunity by participating in several startup events such as Echelon Asia Summit and Singapore Road Show sponsored by KOTRA.

"This program is an amazing chance for us to connect with companies based in Southeast Asia that are seeking for business opportunities with AI startups," said YJ Min, the CEO of Konolabs.

Konolabs is a technology-based startup that develops the artificial intelligence-driven scheduling platform Kono. In 2015, the company was selected for a batch program by 500 Startups, a Silicon Valley-based startup accelerator. In October this year, Konolabs won the TechCrunch Pitching Competition in Seoul.