2. Startup Korea is a movement to foster an
entrepreneur-friendly environment in South Korea,
driven by the alliance of entrepreneurs, accelerators,
media, and policy makers. Initiated by Banks
Foundation for Young Entrepreneurs, it aspires to
create an ecosystem where startups have access to the
relationships, opportunities, and knowledge they need
to succeed.Banks Foundation For Young Entrepreneurs is a non-profit organization
founded in 2012 by the association of twenty banks of South Korea. With an
asset base of approximately USD 460M, it aims to return part of contributing
banks' profits to the society by helping address worsening youth
unemployment through promoting entrepreneurship.
Global Entrepreneurship Week is the world's largest
celebration of the innovators and job creators who
launch startups that bring ideas to life, drive
economic growth and expand human welfare.
During one week each November, GEW inspires
people everywhere through local, national and
global activities designed to help them explore
their potential as self-starters and innovators.
Presented by
3. Why creative economy?
Ten largest Chaebol’s share of GDP (2011)
Net Profit No. of Employees
76.5% of GDP 1980% vs. 88%
Big 30 Conglomerates in Korea
4. Paradigm shifting
• Government is driving
Spending $3.7 billion
for startups until 2017
- Operating workspaces
- Supporting with fund
- Investing through matching
$2 billion
Growth Ladder
Fund
Friendly policies
for startups
Healthcare
Education
Finance
Software
Fostering
angel
investors
Creative
economy
Big
companies
participating
$7.5 billion
Budget in 2015
5. Evolution of Korean Startup Ecosystem
Source: Startup Alliance Korea
• Experienced mentors
• Reliable investors
• Workspaces for startups
• Supporting institutions from
government
• Media for startups
6. Growth of Korean Startup Ecosystem
18,893 29,910
• Number of Ventures
Year End 2009
Year End 2014
Source: Korea Venture Business Association
7. Growth of Korean Startup Ecosystem
• Initial Investment in Early Stage Ventures
Source: Korean Venture Capital Association
$247M $505M
Year End 2009
Year End 2014
11. • Founded in 2012
• Raised $100M at $1B Value in 2014
• 74 M&As
• 5 M&As / Month
• IPO in NASDAQ by 2016
New Growth Model: Yello Mobile
12. • IDG CAPITAL CHINA $100M
• 500 Startups, $15M
• Sequoia Capital, BlackRock PE- Coupang $400M
• Goldman Sachs – Woowa bros $40M
• Tencent – Party Games $20M
• Google Campus in April 2015
Korea on Spotlight
13. “Today is a different story. Korean innovators and entrepreneurs are some of the best
in Asia and Korean startups are making headlines around the world, especially in the
mobile space. We want to support this booming community of entrepreneurs. So it’s
with great excitement that we announce that Campus is
coming to Seoul!”
- Google for Entrepreneurs –
Global Eyes to Korean Startup Scene
Bridgette Beam
Senior Partnerships and Programs Manager
14. Seoul has been a crucial for several startup scenes.
“As one of the most wired places on earth, Seoul has been a crucible for several startup
scenes. The government is even aiming to make a town south of Seoul a Korean Silicon
Valley. But it is in the 40 square kilometers of land south of the Han river where the growth
of Internet and mobile startups has been most evident and the related culture most vivid.”
- Gangnam Becomes Hot Spot for Korean Startups, DEC 11, 2014 -
Global Eyes to Korean Startup Scene