Invest KOREA

Yigal Erlich, Chairman of the Yozma Group and founder of the Yozma funds, which formed a venture ecosystem in Israel, will help Korean venture companies enter the global market.

Minister of Science, ICT and Future Planning Choi Mun-kee met Chairman Erlich last Monday to discuss measures of cooperation between Korea and the Yozma Group.

Minister Choi noted that government-funded research centers, universities specializing in science and technology and science & business belts are helping outstanding research outcomes be followed by start-ups, and suggested cooperation with the Yozma Group.

Chairman Erlich said that the Yozma Group can help venture companies with advanced technology enter the global market with the Group’s knowhow and global network.

He also noted that the Korean government needs to hold a campaign to facilitate a start-up culture and encourage young entrepreneurs to start companies without fear of failure for the government’s strategy to succeed, adding that the Yozma Group will also participate.

Chairman Erlich established the Yozma funds in 1992 to create a venture ecosystem in Israel in the 1990s and led the spread of a start-up culture.

Minister Choi explained that the cooperation will serve as a new momentum for a creative economy and that practical measures will be discussed at working-level meetings.


Source Text

Source: Yonhap News (May 27, 2013)

** This article was translated from the Korean.