Startup News: Kerala Startup chosen for coveted South Korean acceleration initiative!
Buyfie, a Kerala-based hyperlocal e-commerce startup, has been selected for the prestigious ‘in2Korea’ acceleration programme. Conducted by South Korea’s Ministry of Science and ICT (MSIT) and National IT Industry Promotion Agency (NIPA), the programme offers startups the opportunity to fast-track their growth in one of the world’s major IT hubs.
One of only 30 tech startups invited to participate from around the world, Buyfie – founded by brothers, Praveen S.S., Pranav S.S. and Prabin S.S., from Balaramapuram in the city – was chosen on the basis of its minimum viable product (MVP), i.e. a product developed with sufficient features to satisfy initial users. The invitees for the programme cover a range of industries such as fintech, green tech, AI and e-commerce.
Buyfie was incubated under ‘Startup Dreams’, a social sector initiative by the Scheduled Castes Development Department in association with the Kerala Startup Mission. Incorporated in 2016 as Axen Software Pvt. Ltd. in Technopark, the company offers a first-to-the-market for goods or service-based e-commerce local store network
It allows users to discover and buy goods or service deals and offers nearest to their location; search for their nearest local stores or businesses by name, location or pin code; discover the goods or services from malls; search and filter goods or services by name and price; communicate via chatbots and SMS; and experience visual e-commerce.
More than 200 local stores are currently registered with Buyfie in Thiruvananthapuram district. In addition to expanding its operations to more cities within the next few months, Buyfie is also developing a web portal and app for users.
Among the perks, Buyfie will enjoy as part of its ‘in2Korea Pro-Pack’ voucher are on-demand access to professional experts to help go from concept to corporation, paired mentorships, assistance in getting a Korean Startup Visa besides free office space in a startup campus in Pangyo, known as South Korea’s ‘Silicon Valley’.
The programme will also offer chances to interact with world-class companies such as Samsung, LG and Hyundai Motors as also exclusive access to local talent at monthly job fairs and language training and insider tips from successful expats and entrepreneurs.