GSF Accelerator has joined ten other accelerators from Asia to form an alliance called DreamPlus to help their portfolio companies expand in other regions. The alliance was initiated by Korean business conglomerate Hanwha Group which runs an accelerator under the DreamPlus banner.
The members of the alliance include GSF from India, DreamPlus from Korea, Chinaccelerator and Innospace from China, Ideaspace from Indonesia, Open Network Lab from Japan, Mad Incubator from Malaysia, Indeaspace from Philippines, Fatfist Internet Group from Singapore, Pinehurst from Taiwan, M8VC from Thailand and Egg Accelerator from Vietnam.
"Our GSF global program takes GSF startups across the leading global tech hubs: SF, NY, Boston, Toronto, Singapore in addition to Bangalore, Mumbai and Delhi NCR. With this alliance, we unfold our "look-east" strategy, idea is to provide a platform to GSF startups to access different Asian markets with the help of our alliance partners in these markets," said Rajesh Sawhney, founder of GSF Accelerator.
In a parallel development GSF-accelerated SaaS-based customer engagement platform Whatfix has raised $300,000 from Hanwha Group. The funding is in the form of a convertible debt note. The firm has presence in Europe and America and plans to expand to South Korea and other South Asian markets.