CES 2024: the first step towards building a global startup nation
The Ministry of SMEs and Startups (Minister OH Youngju, hereinafter referred to as MSS) organized the K-Startup Pavilion at the Consumer Electronics Show (CES) 2024 in Las Vegas, USA, for four days from January 9 to January 12.
CES is the biggest trade show for electronics in the world, organized by the Consumer Technology Association (CTA). The event offers a platform for global giants and innovative companies to display their upcoming electronics products that combine IT and new technologies. It provides a sneak peek into the latest technology and offers insights into future industry trends.
The theme of CES 2024 is “All Together, All On,” signifying that the various industries represented at CES are coming together to use technology to solve the world’s many challenges.
This year, as COVID-19 recedes, over 3,500 companies participated in the exhibition, providing K-startups an excellent opportunity to showcase their innovations and brand value to the world. Over 3,200 companies from 151 countries participated in CES 2023, including 469 Korean companies.
MSS collaborated with 26 organizations, including public institutions, local governments, and universities, to host an integrated pavilion named “K-Startup” at CES Eureka Park.
The number of booths has increased significantly from the previous year, from 51 to 91.
MSS supported startups participating in CES 2024, offering exhibition booths, online and offline promotion, demo days, business matching, local consulting, and networking activities.
The participating organizations collaborated to promote the Korean startup brand “K-Startup” globally. They recommended eligible startups, provided preliminary consulting, and jointly covered exhibition booth fees and local networking programs. This effort created a synergistic effect that helped startups to expand overseas.
From September 2023, MSS began offering support to CES participants, including strategy consulting for winning the Innovation Award and guidance on applying for it.
Out of 91 participating companies in the K-Startup Pavillion, ten have won the CES 2024 Innovation Awards, which recognizes outstanding technologies and products. The winning companies are Life on Korea, MEMS Corp, P&A, Kangsters, Sheco, Thoto, DeepVisions, EverEx, Waiker, and Zkrypto.
OH Hyunok, CEO of Zkrypto, was selected for the MSS entrepreneurship program and participated in the K-Startup Pavilion this year. He said, “The MSS entrepreneurship program helped our company win the CES 2024 Innovation Awards for two consecutive years. By participating in the K-Startup Pavilion exhibition, we aim to promote our company and boost sales.” He added, “It is essential to keep scaling up government policies to support startups expanding globally.”
Minister OH Youngju stated, “CES 2024 presents a great opportunity for Korean companies to identify global market trends and plan their expansion strategies abroad.” She added, “MSS will help Korean startups showcase their technology and innovation capabilities at CES and create new overseas business opportunities.” OH continued, “We will promote the ‘K-Startup’ brand globally by introducing Korea’s startup ecosystem to global companies and investors.”
Editor Hye-min Moon
