Ex-Samsung members join forces to build global startup ecosystem

A group of Samsung alumni have come together under a tentative name of ‘Xsamsung’ to support each other’s ambitions in the startup ecosystem across the world.

The new network organization benchmarked from Ex-Googler or Xoogler consists of startup founders, executives from renowned tech and Wall Street companies, and VCs operating in Silicon Valley and New York, according to industry sources on Wednesday.

Xsamsung up and running in October, led by entrepreneurs and businessmen active in Seoul, Silicon Valley and New York, already attracted 600 plus members by word-of-mouth just in the last two months. A governing body of some 100 people was also formed to help the organization to plot its future. Most of them are foreign nationals and they include founders of unicorns such as CloudMinds and Palm, C-level executives of global tech giants, VC evaluators and angel investors. There are several chapters under the governing body to match members and experts to groups in each subject ranging from edtech to healthcare, fintech, robot, blockchain and augmented reality.

In November, Xsamsung held its first offline meeting in New York and Korea and plans to do the same next year all over the world to mark its official inauguration. The U.S. (New York, Silicon Valley and Chicago), Korea, the U.K., Singapore, Mexico and the Netherlands are expected to serve as a global base for activities.

[Source: Xsamsung]

Xsamsung aims to create a startup ecosystem with ‘Samsung DNA’ beyond simple networking opportunities. To this end, it has received mentoring from Xoogler, a global community of ex-Google employees as members who are working together to help each other in the startup ecosystem. Xoogler, which consists of startup founders, early team members, and VCs, is exerting considerable influence in Silicon Valley. Xoogler also invests directly in startups through its own fund.

“Samsung's human network, which spans almost all fields such as tech (electronics), manufacturing, finance, and construction, is unparalleled in the world. We saw the potential to create unique value of the Samsung network,” said Xsamsung’s founding member Mingu Lee, Managing Partner at Cleveland Avenue.

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