123 Factory

123 Factory is an organization founded to connect and accelerate startups between Korea and Europe. It is based in Berlin, Germany, with an additional office in Seoul, South Korea. The organization aims to build a cross-border innovation ecosystem, providing strategic guidance and mentorship to empower entrepreneurs.

123 Factory focuses on empowering startups to scale globally, particularly through cross-border expansion. They offer hands-on support for market entry, including strategy development and proof-of-concept collaborations with leading corporations. Their services include market access support, workshops, executive seminars, and strategic insights.

<p><strong>What are the eligibility criteria for applying to 123 Factory?</strong></p><p>Startups in the pre-seed and seed stages, particularly those focused on climate and healthcare, are eligible to apply. Founders should demonstrate a commitment to scaling their businesses globally.</p><p><strong>How does the application process work?</strong></p><p>Interested startups can apply through the 123 Factory website. The application typically requires a business plan and details about the startup's market strategy.</p><p><strong>What makes 123 Factory different from other accelerators?</strong></p><p>123 Factory focuses on cross-border expansion between Korea and Europe, providing tailored support for market entry and collaboration with leading corporations.</p><p><strong>What is the program format?</strong></p><p>The program lasts for 40 weeks and includes a mix of in-person and virtual sessions, workshops, and mentorship opportunities.</p><p><strong>What kind of support can startups expect during the program?</strong></p><p>Startups receive hands-on support, including market access assistance, strategic insights, and opportunities for proof-of-concept collaborations.</p><p><strong>What are the success metrics for alumni?</strong></p><p>Success metrics include the ability to secure funding, successful market entry, and partnerships formed during the program.</p>