Today, LIG Nex1 Co., Ltd., a South Korean aerospace manufacturer and defense company, announced their partnership with Starburst, a startup accelerator enabling innovation for the global aerospace industry specializing in space, defense, and aeronautics.
“LIG Nex1 is a leader in Korea’s defense industry with its research and development capabilities; we are very excited to join the Starburst network and collaborate with startups on new products,” said Kim Jichan, LIG Nex1 CEO. “We have been continuously making investments in order to secure required technologies in anticipation of future programs.” As the first Korean defense corporation to join Starburst Accelerator, LIG Nex1 plans to strengthen their innovation pursuits and understanding of the global aerospace and defense startup landscape.
Starburst Accelerator was set up in 2012 to propel innovation in the aerospace sector by closing the gap separating new ventures from established companies, public organizations and venture capital firms. It provides early-stage startups with a set of services enabling them to fast-track their growth, including support for business plans, interface with corporate and government partners, investors and industrial groups, office space and participation in regular workshops. It also has partnerships with university labs across the US, Europe and Asia, continuing to expand their global network.
“Starburst has succeeded in the last four years in proving the startup ecosystem is ripe for new product innovations in aerospace and defense,” said Van Espahbodi, Starburst Cofounder and Managing Partner. “By introducing the right mix of global corporate sponsors into this program, we have demonstrated interest across the sector and critical markets like Korea. We are excited to kick-off our partnership with LIG Nex1, who champions innovation for Korean defense capabilities.