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Seoul Global Startup Center Members, CID AUTO and Momentous, Go Global

December 24, 2018

SEOUL, South Korea--(BUSINESS WIRE)--Dec 23, 2018--Member companies of Seoul Global Startup Center are expanding their businesses globally.

Seoul Global Startup Center (Seoul GSC) helps foreign residents in Korea start businesses in Seoul by offering working space, step-by-step consulting and mentoring services.

CID AUTO, a Seoul GSC member, participated in Innovation Factory in Jakarta from September to November, and gained a foothold to discuss setting up a joint venture with IndoMobil, an automotive business affiliate of Salim Group in Indonesia.

Innovation Factory is a community-driven initiative to sponsor the launch of overseas businesses by startup companies, including those selected by the Korea Institute of Startup & Entrepreneurship Development as participants in its Global Acceleration Program.

CID AUTO has been discussing the establishment of a joint venture with IndoMobil for its Shuka TV service, a video commerce platform for used cars. CID AUTO also plans to launch a car wash business in Indonesia early next year through partnership with local businesses.

“We were able to research the Indonesian automotive market closely through the program. It was a good chance to find local business partners,” Min Ho-kee, CEO of CID AUTO, said.

Another Seoul GSC member, Momentous is in talks with Korean and U.S. companies over to conclude contracts to provide its mindfulness social networking service, ‘Just Thank You,’ after participating in Silicon Valley Accelerating Program in the autumn of 2018.

Just Thank You is a mindfulness social networking service to track and share happiness and also a platform to support workers’ mental wellness and foster a positive corporate culture. Just Thank You’s fun and easy Recognition & Incentive program will help companies to establish a positive organizational culture.

Momentous tweaked the direction of its B2B solution through Silicon Valley Accelerating Program before launching the service, and four months after the launch, it signed contracts with Korean companies.

“The accelerating program was a good chance to check the marketability and customer’s reception of Just Thank You. We’re excited to launch a new version of B2B solution in January 2019,” Steven Cho, CEO of Momentous, said.

The B2C version of Just Thank You is available as well. You can download it from Apple App Store and Google Play. It will be featured in the App Store on Jan. 1, 2019.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181223005002/en/

CONTACT: For Seoul Global Startup Center

MOTHERNEST

Mihyung Lee, +82-70-4866-4332

mihyunglee@mnest.co.kr

KEYWORD: ASIA PACIFIC SINGAPORE SOUTH KOREA

INDUSTRY KEYWORD: SMALL BUSINESS PROFESSIONAL SERVICES CONSULTING

SOURCE: Seoul Global Startup Center

Copyright Business Wire 2018.

PUB: 12/23/2018 08:00 PM/DISC: 12/23/2018 08:00 PM

http://www.businesswire.com/news/home/20181223005002/en

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