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EU, keeping an eye on Korean startups' growth potential

'Startup Korea 2019' held during the week of 'INVEST KOREA WEEK 2019'
Fleur Pellerin, the former French minister, highlighted Korea-EU startup business partnership

Korea Trade Investment Agency (KOTRA: president and CEO Pyung-Oh, Kwon) and Ministry of Trade, Industry and Energy (MOTIE) co-hosted 'Startup Korea 2019' on Nov 6 at the Grand InterContinental Seoul Parnas. The event, held especially during the week of 'INVEST KOREA WEEK 2019', attracted over 190 guests home and abroad.

Well known digital activist Fleur Pellerin, managing partner / co-founder of Korelya Capital SAS, showed up on stage as a keynote speaker. Ms. Pellerin, Korean born French businesswoman who once served as French government minister in 2012 for two years and established Korelya Capital in 2016 said, "We see a rising demand for cooperative networks between EU and Korea. We've got enough room to grow and resources to support them."

Beiersdorf Korea, a Hamburg based multinational personal-care products manufacturer shared their recently announced business plan to accelerate the next generation of beauty startups in Korea, called 'K- Beauty Nivea Accelerator (NX)'.

Bernd Stenger, the vice president of Heraeus, the technology group headquartered in Germany, also added that "We're paying closer attention to the growth potential of many innovative businesses in Korea."

Eight promising venture startups invited to the Startup Korea 2019 event (Rowan:AI healthcare service / Grip:smart home IOT solution / Cimplrx: AI medicine development platform / Bagel Labs: smart tape measure / H Labs: indoor positioning development) ran a special session to demonstrate and publicize their products and services to be matched with potential investors.

What impressed the investors the most was YOLK's Solar Cow Project (which incentivizes parents in Africa to send their kids to school, giving free access to solar energy), OHFA TECH's educational materials for the blind (smart braille) and Unique Good Company's AR / VR game technology.

Sang Hyun,Chang, the head of INVEST KOREA (KOTRA) said, "We'd like to make a full commitment to the FDI attraction for venture startups in Korea. On top of that, we'll keep working on bringing funds for CVC (corporate venture capitals).

Source : Invest KOREA (2019.11.06)

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