Kakao Investment, the venture capital arm of South Korean mobile messaging giant Kakao, has set out to discover and nurture local startups with promising artificial intelligence technologies and support their entry into global markets.

The Kakao-owned investment company has teamed up with Seoul-based Venture Square and the National IT Industry Promotion Agency to initiate the fifth round of its startup accelerator program “Startup Nomad.” Applications are open until June 30.

Initiated by Venture Square, “Startup Nomad” is a venture accelerator program that has seen participation by some 33 startups, including live chatting app SendBird and MyMusicTaste, a fan-initiated live events making service.

This year’s program will look for AI-related English-speaking entrepreneurs and startups under five years old that are looking to pitch their products to overseas markets in the future.

The eight teams selected will receive one-on-one mentorship and consulting on accounting and legal affairs from venture capital specialists as well as airfare and lodging coverage for startups that partake in global accelerating programs or events.

They will also receive mentorship from Kakao’s in-house AI specialists and also forge potential partnerships with Kakao’s flagship services, Kakao said.

For further information and applications, visit http://startupnomad.kr/batch5.

By Sohn Ji-young (jys@heraldcorp.com)