Yet another "Y-combinator of Korea" opens door

Web 2.0 | 2008/04/17 20:03 | Web 2.0 Asia
Neowiz, a major internet company of Korea (providing games, chats, and other services), launched a web startup incubating/investment program called NeoPly (Link in Korean).

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Neoply is a venture incubating program that provides backend infrastructure and mentoring service to promising web startups. Neoply is similar to an already existing venture support program by Softbank Korea, called Litmus (My previous post about Litmus is here).

I think Neoply carries significant meaning as it's being worked up by an established, first generation web company. Sometimes the best people who can guide fledgeling startups are actually the ones who had been there, done that. 

Meanwhile, Litmus announced a partnership with Korea's #2 portal, Daum. With this partnership, Daum will provide technial (and other sorts of) support to Litmus startups; Also, some of those startups might even be able to deploy their product on Daum service properties such as blog or Daum Cafe (Web BBS service). This will be a boon to the startups, as often what they need more than money is the initial market traction.
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