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KOTRA, extending a helping hand to startups in Korea

Launched the publication of research paper, opening a digital consulting service, as breakthrough amid the fear of coronavirus
Helped businesses reach 47 deals of incorporation, export USD 1.8 million worth of goods and hire 246 workers in 2019

Korea Trade Investment Promotion Agency (KOTRA) is launching a web based online platform where startups and entrepreneurs, facing a massive challenge to find new sales networks overseas due to the widespread of the deadly virus, can meet potential business partners worldwide. Plus, the agency is also working out to help SMEs have access to world renowned crowdfunding platforms such as Japan’s “Makuake”, “ZECZEC” in Taiwan and the world largest e-commerce business “Amazon” in the US by opening a virtual meeting. KOTRA also launched the publication of research paper: global CVC trends, demand analysis targeting enterprises in Korea and the global startups ecosystem data.

KOTRA has led multiple programs designed to help startups in Korea break into new markets across the world. By fully making use of its overseas KBC networks and resources, the agency supported 84 startups and 106 entrepreneurs to form global sales channels. “Global open innovation project”, a matching service identifying market demand to connect potential buyers and suppliers, enabled 549 entrepreneurs to successfully contact with 103 global business partners.

Running a series of programs which include “Global entrepreneurship program” and “Global open innovation” last year alone, KOTRA helped businesses reach 47 deals of incorporation to branch out into overseas markets, export an estimated USD 1.8 million worth of goods and services, attract investment valued over USD 1.35 million and hire 246 employees.

A startup company, an industrial data analytics solution developer, was luckily invited last year to the Korea Pavilion located inside “Disrupt SF 2019 (Techcrunch Disrupt)”, sponsored by KOTRA. The developer, who’s long wished to set foot into the US market, was able to meet with local investors interested in financing disruptive technologies, VC accelerators and buyers from all around the world and finally become the part of candidates to join the Y combinator program-YC Winter Batch Stats. The data analyst said “A warm-up course along with KOTRA’s intensive care programs helped a lot. I know, we’re all passing through the tough moment of the coronavirus crisis, but the agency’s biz-support services are believed to work definitely.”

Source : KOTRA (2020.03.12)

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