SparkLabs Foundry Seeks to Bring Innovation to Fortune 500 Companies

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SparkLabs Group Launches a New Innovation-as-a-Service Platform for Corporates. Advisors Include IBM’s CTO of Quantum Computing, Former CTO of P&G, and Chief Data Engineer at PayPal

SparkLabs Foundry Team

“We are excited to launch this new venture to help corporates gain real time insights on new product and service innovations across the globe to create rapid change and positive impact on their existing businesses, " Jimmy Kim, Co-founder of SparkLabs Group.

SparkLabs Group (http://www.sparklabsgroup.com), a network of accelerators and venture capital funds, has launched a new company, SparkLabs Foundry. It is based on SparkLabs’ global network of over 220 startup investments and deep presence in key innovation ecosystems, such as Silicon Valley, Seoul and Singapore.

SparkLabs Foundry (http://www.sparklabsfoundry.com) will provide a suite of sector specific consulting services for corporations throughout the globe, seeking to become more innovative and avoid becoming disrupted in today’s climate of rapid innovation. The company leverages SparkLabs lead as one of the best startup ecosystem builders in the world. SparkLabs is a leading early-stage investor in South Korea, which has held the top spot as a nation in Bloomberg’s Innovation Index for five years in a row since 2014. Additionally, SparkLabs has accelerators in Beijing, Sydney, Shenzhen, Washington D.C., Taipei, Muscat, and Seoul, and active investors in Silicon Valley, London, Stockholm and Singapore.

“We are excited to launch this new venture to help corporates gain real time insights on new product and service innovations across the globe to create rapid change and positive impact on their existing businesses. We are also very fortunate to have Scott Sorochak recently join us as CEO to lead SparkLabs Foundry. He brings over 25 years of experience as an entrepreneur and venture capitalist in Silicon Valley which is invaluable for any company seeking tangible, practical guidance from someone with experience in both the startup and enterprise worlds,” said Jimmy Kim, Co-founder of SparkLabs Group.

Joining Scott Sorochak will be Jaeson Ma as Chief Business Officer; Iris Lim as VP of Business Development – APAC; David Song as Executive-in-Residence; and Jared Carney as Executive-in-Residence. Jaeson Ma is a Co-founder of 88Rising, which is a SparkLabs Global Ventures portfolio company, and Co-founder at Stampede Ventures, which was recently launched by long-time Warner Bros. Pictures executive, Greg Silverman. SparkLabs Foundry has two powerhouse Executive-in-Residence supporting its efforts and their corporate clients: David Song, who recently left Nike after growing two units to over $1 billion in revenues; Jared Carney, former Chief Strategy & Marketing Officer at the Milken Institute, and current Vice-Chairman at McKinley Capital, a $7 billion quantitative asset manager.

“I have been working with the SparkLabs organization as a mentor and advisor for nearly five years and I am excited and honored to be working with this amazing global team at SparkLabs in helping to scale SparkLabs Foundry at becoming the preeminent innovation platform for corporations across the world,” stated Scott Sorochak, CEO of SparkLabs Foundry.

SparkLabs Foundry is supported by a world class advisory board. Scott Crowder, CTO and VP of Quantum Computing at IBM; Sang Cha, Creator of SAP HANA; Melissa Dyrdahl, Former CEO of Ella Health; Sid Anand; Chief Data Engineer at PayPal; Jonathan Mariner, Former CFO of Major League Baseball; Bruce Brown, Former CTO of Procter & Gamble; Jun Yong Hyun, SVP and Head of AI & IoT Business Development at LG Uplus; John Pleasants, CEO of Brava and Former President of Disney Interactive; and Beti Cung, Co-founder & Former COO at Bluegraf.

SparkLabs Foundry will be headquarted in San Francisco with offices in Seoul and Singapore.

About SparkLabs Group
SparkLabs Group (http://www.sparklabsgroup.com) is a network of startup accelerators and venture capital funds that has invested in over 220 companies across 6 continents.

SparkLabs’ accelerator network consists of SparkLabs Korea (Seoul), SparkLabs China (Beijing and launching Shanghai, Chengdu and Shenzhen), SparkLabs IoT & Smart City (Songdo, South Korea), SparkLabs Cultiv8 (AgTech, FoodTech & Sustainability in Sydney & Orange, Australia), SparkLabs Taipei, SparkLabs Energy (Muscat, Oman) and Ping An Cloud Acclerator, Powered by SparkLabs (Shenzhen, Hong Kong).

SparkLabs Global Ventures (http://www.sparklabsglobal.com) is a global seed stage fund; SparkLabs Ventures, an early-stage fund (Series A & B) in South Korea; and SparkChain Capital (http://www.sparkchaincapital.com), an early stage blockchain-focused fund.

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Bernard Moon
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