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Blog 2017-06-28 08:33:07

We're excited to make the announcement that the Daegu Gyoungbok Institute of Science and Technology (DGIST),  Greenpoint Asset Management and the Midwest Energy Research Consortium (M-WERC), are  partnersing to creating a new business accelerator. A copy of the media annoucenment can be found later in this blog post. For background here are some descriptions of the players involved. 

Who is Greenpoint Asset Management?

Greenpoint Asset Management is a group of broadly experienced finance professionals dedicated to delivering the highest quality investment opportunities to global investors.  Their investment strategies include: Private Equity, Income, Hedge Funds, Currencies, Fine Art, and Real Estate.

Who is DGIST?

The Daegu Gyeongbuk Institute of Science and Technology (DGIST) is a public science and engineering university located in Daegu Metropolitan City, South Korea.  The University's six departments include Emerging Materials Science, Energy Systems Engineering, Information and Communication Engineering, Robotics Engineering, Brain and Cognitive Sciences and New Biology.

What is WERCBench Labs?

WERCBench Labs was launched in 2015 as a program to aid start-up companies in the Energy, Power and Controls sector.  The program was designed to take scientists and engineers and turn them into entrepreneurs who could commercialize the technology developed at our research universities. Based on the "Lean Start-Up" Curriculum, the program recruited entrepreneurs and accelerated them to achieve success as sustainable, revenue-generating companies.  The WERCBench Labs accelerator funded four cohorts of ten companies which created 40 jobs.

What is the Energy, Power and Controls Sector?

The Energy, Power and Controls (EPC) sector is the largest and fastest-growing industry sector in the State of Wisconsin.  The sector includes companies that provide advanced products and systems which are used in the generation, transmission, storage, distribution, control and management of energy and power.  In Wisconsin there are 900 companies that support 100,000 jobs and $38 billion worth of revenue per year.  Across the eight (8) state Midwest Region there are in excess of 526,000 jobs in the EPC sector.

 

 

Here's a copy of the release that went out on July 28.

M-WERC partners with Korean University DGIST

Program looking to attract area students to lean startup process

Milwaukee, WI – The Daegu Gyoungbok Institute of Science and Technology (DGIST), in partnership with Greenpoint Asset Management and the Midwest Energy Research Consortium (M-WERC), are creating a new business accelerator with a significant international business component that will promote foreign direct investment in Wisconsin and exports to the Far East.

The accelerator will establish a base of international business relationships that will help early stage high-tech companies from both the United States and South Korea take advantage of Milwaukee's growing export platforms to accelerate their customer discovery processes both domestically and abroad.

In recent years, Milwaukee and the M7 region have focused on the benefits of export platforms as a model for economic development and growth.  By working together with DGIST, M-WERC and Greenpoint Asset Management, startup companies from both the US and South Korea will have a chance to explore various business initiatives.

Program participants will have the opportunity to pursue one or more of the following goals:

1) Sell products directly to end customers in the US or the Western Hemisphere.

2) Find channel distribution partners who can sell products in the US or Western Hemisphere.

3) Develop joint go-to-market strategy or Joint Venture with partners in US and South Korea.

4) Set up a factory in Milwaukee.

5) Raise angel or venture capital financing.

6) Find new sources of products, which can be purchased here and brought back to Korea.

The program, all ten Korean teams will interface with the third cohort of M-WERC's WERCBench Labs business accelerator program in M-WERC’s Milwaukee headquarters. The four-week-long Korean program begins in October and runs contiguously with the US-based twelve-week program.

For more information on Greenpoint Asset Management, DGIST, M-WERC and WERCBench Labs check out our recent blog post that talks more about this program.

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