1. Hyung Kyu Lim (hklim@nipa.kr)!
Director, Global Startup Team!
National IT Industry Promotion Agency!
3. Policy
Top-down approach
- “Creative economy” is the President Park’s key strategy
- focus on the innovation and entrepreneurship
to boost growth & employment
- startup-growth-collect-restart circle
- MSIP(Ministry of Science, ICT and Future Planning)
- SMBA and government agencies
provide supporting program
Plan ahead to vitalize the market
- Policy to vitalize venture ecosystems
* Seed fuding, M&A
- Culture : image of failures, re-start
Huddles are existing for global collaborations
- immigration policies, labor laws
4. Support
Infrastructures
World fastest IT/Technology infrastructures – broadband, mobile
Lack of grass-root support like communities & events
è Huge changes recently with the startup booms
* B2G center : academy, meet-ups, networking events
Incubators – 250 university incubators
Co-workspaces
- Private : Maru180(Hyundai Group), d.Camp(bank Associations),
- Private-Public : Dream Enter(Entreprenureship Foundations),
Startup-alliance(Public-Private IT companies)
- Public : B2G Center (Public)
Accelerators : 20 accelerators
5. Market
Size : domestic market is small
Addressable market is small è needs to expansion to global market
Players are networked but competitive
* On-line/mobile games, Apps
Dynamics : good for test bed
Technology-oriented, High-tech early adopters
Sophisticated customers, Speed is valued
6. Human Capital
One of the most important factors : Team & guidance
Talent Pool & affordability
Highly skilled engineers/researcher are available from universities,
research institutes, and industry
Influx of talents to startups from elite schools and consulting industry
- returnee, diaspora
Guidance
Serial entrepreneurs are emerging
Mentors/Accelerators/VC and Angel investors
7. Finance
Affordability of funding
- Auditions : private, public
- Accelerators
- Angel investors/Groups : 6,566 investors/ $60mil(’13)
- VC : 92 VCs, 413 funds
- Loan : Korea Technology Finance Corporation
* Financial Assistance to New Technology Businesses Act
- Government programs : R&D (TIPS)
Potential for exits in the form of IPO or M&A
8. Culture
Entrepreneurial culture
- Passion to challenge
- General acceptance of risk and failure
* image of failure
Needs more “Role models”
10. Overview of Startup Programs
Seed Level Pre-Series A
Strengthening Startup Infra/
“Fostering Global Accelerators”
Series A~C
Growth
Startup Investment Stage!
Pre-accelerating Accelerating
Business
Innovation
& Re-designing
ICT Entrepr
ene-urship
Training in
Developing
Countries
Startup Korea
“Miracle in Se
oul”
Accelerator Le
aders Forum (
ALF)
Seed Funding
Born Global !
Startup!
12. 20 CEOs from Matured Ventures!
Re-think à Re-design!
à Re-engineer à Go global!
14. Values
Players Values
Executing Agency Apply policies to the market
Obtaining feedback
Government Test policy in the actual market
è Redesign the policies
Accelerators/Incubators Exchange methodologies
Building global networks
Startups
Obtaining global resources
Utilize global platform to expand the business
Collaboration with global players
Global Accelerators
/Partners
Hands on access to the screened/ready-to-go startups
Building regional networks
Investors (Angels, VCs) Access to the innovative startups