Infineon and FuturePlay to jointly strengthen start-up ecosystem in South Korea

Information Technology Press Releases Friday July 19, 2019 11:46
SEOUL, South Korea--19 Jul--PRNewswire/InfoQuest

Infineon and FuturePlay have signed a memorandum of understanding (MoU) to jointly strengthen the hardware and software development ecosystem in South Korea by mentoring and nurturing early and growth stage start-ups.

Infineon and FuturePlay will identify problem statements setting out opportunities to further develop and enhance Infineon's commercial semiconductor solutions. Based on the problem statements, FuturePlay will refer start-ups from technology-related sectors to Infineon. Identified startups can cooperate with Infineon in various ways. Infineon can offer dedicated training and access to lab facilities. Strategically relevant startups from FuturePlay will also be supported with product samples and development kits. Furthermore, Infineon will offer its technical subject matter experts speakers at FuturePlay events and as mentors for startups as and when needed. The partnership also includes introductions to Infineon's customers for business or collaboration opportunities.

Junghee Ryu, CEO, FuturePlay, said: "FuturePlay is very happy to partner with Infineon, a leading technology company from Germany, in supporting start-ups. This partnership will enable FuturePlay to further strengthen its incubation capabilities for start-ups in deep technology areas."

"Infineon has found the right partner in FuturePlay as a highly reputable company among the local tech startups. Our partnership will enable us to engage brilliant entrepreneurs and startups, to tap into the enormous innovation potential in South Korea," said Chee Seong Chua, President of Infineon Technologies Asia Pacific Pte Ltd.

"Korea is a key growth market for Infineon with strong demand for power, sensor and security solutions, as well as automotive solutions." said Scott Lee, Managing Director of Infineon Korea, "We want to focus in these existing areas as well as identify early on new use cases for our semiconductor solutions. By working together with FuturePlay, we aim to join forces with innovative entrepreneurs and start-ups."

About FuturePlay

Founded by entrepreneurs, FuturePlay is a company builder and early-stage investor focused on incubating tech startups. FuturePlay looks to support talented people with "ideas and technologies", building global-scale tech startups. FuturePlay is based in Seoul, South Korea. For more on FuturePlay, please visit www.futureplay.co

About Infineon

Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon is the key to a better future. In the 2018 fiscal year (ending 30 September), the Company reported sales of EUR7.6 billion with about 40.100 employees worldwide. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY).

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