Hội thảo quốc tế “Phát triển hệ sinh thái khởi nghiệp đổi mới sáng tạo tại Đà Nẵng”

1. What Makes
‘START-UP KOREA’?
DAE HYUN KIM
Partner & CEO of Vietnam Office, TheVentures

2. Introduce
• BA, Mechanical Engineering, Pusan National University
• Founder, SELLIT (2013~2017)
Investor:
Acquired by
• Chief Commerce Officer, BunJang (2017~2019)
Investor:
Acquired by Valuation @ $150M
Partner & CEO of Vietnam Office, TheVentures (2020~)

3. Overview Korean’s Tech Startup Support Ecosystem (2014)
From 2012 until 2018 was the explode era of Korea Startup Market

4. Overview Korean’s Tech Startup Support Ecosystem (2014)
Invgate, 2023
• Cause of strong Korean Startup Ecosystem, Rather than working for large
companies, Young and smart Korean talents want to work in startups to
build experience and networks, and then start their own businesses.
• Samsung and Hyundai are no longer their number one target. Rather, they
prefer tech companies such as Kakao, Naver, and Baemin.
D-Day pitching competition, 2022

5. - Managing Fund of Funds
- Managing Government Supported R&D Program
- GP monitoring
Government
(Ministry of SMEs and Startup)
Accelerator / Venture Capital
Private Equity / Corporate Venture Capital
- Managing Investment Fund
- Invest Startups and Support for growth
- Portfolio Accounting Audit monitoring (Yearly)
Private Investment Fund
- Purpose of maximizing assets through startup investment
(High Risk Taking)
- Benefit of taxation
Private Startup Support organization
- Startup Alliance
- D.Camp by Banks Foundation for Young Entrepreneurs
Representative Startup-Related Institutions

6. Fund of Funds
Korea VC Fund Proposition
Fund of Funds GP Commit LP
50%
48%
2%
Role of Government
A system in which the government invests a certain amount when VCs create a fund
KVIC, 2023
The effect of creating a fund more than four times the amount of fund investment

7. Role of Government
LP composition status of VC Fund
Private Corporate
Pension Fund
Financial Corporate
Foreigner
Individual
Fund of Funds
The fund of funds provides a sense of security for other capital to invest in the fund
It makes Fund LP’s diversity

8. Government
(TIPS)
Role of Government
TIPS (Tech Incubator Program for Startup Korea)
A representative government-sponsored technology development program to strengthen the technological capabilities of startups
START UP
AC/VC
(Designated by TIPS)
Investment
(Avg $100K)
Share R&D sponsorship
capital (Avg $500K)
& Distribution Channel
Return Tech Fee 10%
(If success for R&D)
Start-up without the burden of failure with only technical items
(Guaranteed Founder share ratio over 60%)
Start-up company growth profit sharing Promotion of high-tech startups
job creation

9. Role of Government
Each ministry is operating a program to support startups
R&D, technology commercialization, Global Expansion
Center for Creative Economy & Innovation
• Support Overseas investment
attraction
• Networking Day with overseas buyers
and Korea Startup
• K-Startup Grand Challenge
For Attracting excellent foreign startups to
Korea
• Support from regional oversea NIPA center
NIPA HCMC is largest center in overseas
• Founded 2015 with 17 location all the
country
• Big corporate take charge in regional
incubator
(ex: Lotte with Busan Center)
Startup can ask support to them anytime. And this Ministry operate various program

10. Big company quickly detect the market trends by investing in these Venture Investment funds
Through M&A, the lack of capabilities of companies is filled, and through this, the EXIT market is active
Fashion E-commerce (Acquire $1B)
Edutech Company (Acquire $300M)
Kids Notice App (Acquire $10M)
Concierge used goods platform (Acquire $10M)
Crypto Exchange (Investment)
AI Computer Vision (Acquire $10M)
AI (Acquire $5M)
AI Semiconductor (Investment)
Voice Tour Guide (Investment)
Online Travel (Acquire $250M)
Datamining (Acquire
$150M)
Activity Platform (Acquire $30M)
Rent-a-car Platform (Investment)
MZ Travel Platform (Investment)
Active Corporate M&A / Investment

11. Private Investment Fund
A system that provides tax credits when private fund invest in venture companies to promote fostering of
venture companies, Opens a window for the general public to invest in unlisted startups
Individual
Private Investment Fund
Start-UP
Investment Capital Gain
Tax Benefit
Investment Capital Gain
• AUM of Private Investment Fund growing every year.
• Most of them are aimed at the realization of profits according to income
deduction benefits and corporate growth.
• It is becoming a new avenue for capital raise and is well known.

12. Payment / Banking
Summary
These various start-up support programs have resulted in many start-ups, and currently, most of the daily life
services in Korea use start-up services.
Navigation / Car Parking
Acquired several Mobility Statup
Travel
Education Real Estate P2P Marketplace

13. Vietnam already has world top-class Software talent pool. So Vietnamese Startup can make better tomorrow!
Summary

14. Grow together!
Make a better future together!
DAE HYUN KIM
• E: chris.kim@theventures.vc
• Mobile: 0868357893
• Address:
M Plaza Saigon, 39 Đ. Lê Duẩn, Bến
Nghé, Quận 1, Thành phố Hồ Chí Minh,
Vietnam
E.O.D