The national K startup, Singapore, was also enthusiastic.
The Ministry of SMEs and Startups (Minister Oh Young-joo) announced that ‘K-Innovation Day in Singapore’ was successfully held at the Conrad Singapore Orchard Hotel in Singapore on Monday, August 26, 2024.
On the first day of the Singapore itinerary, which lasted for two days and one night, Minister Oh Young-joo announced the launch of the ‘K-Innovation Day in Singapore’ hosted by the Ministry of SMEs and Startups in Singapore, which serves as a bridgehead for entry into the Southeast Asian market. A global fund was formed, and on the same day, three investment contracts totaling $4 million were signed, introducing the nation’s representative K-startup to large investment companies and global companies in Singapore.
This event was attended by 80 large investment companies including Singapore sovereign wealth fund investment company Pavilion Capital, Vertex, and OCBC, as well as global companies such as Thales, Oracle, and Dassault Systèmes, and 52 domestic startups also attended, with a total of 300 people. More than one person participated.
In the first part of the event, a global fund formation ceremony and a global corporate collaboration program MOU signing ceremony were held, and in the second part, K-Global Star IR, panel talks, and K-startup meetups were held. In addition, a meeting with local venture capital (VC) and K-Global Star companies, a meeting with startups participating in the ‘K-Startup Networking Support Project’, and a panel talk on the theme of ‘Global Open Innovation’ were also held.
Minister Oh Young-joo said in his opening remarks, “More than 300 global companies, startups and investors from both countries participated in today’s K-Innovation Day in Singapore, which shows high interest in Korean startups. In particular, Singapore investors showed great interest in the outstanding technological prowess of Korean startups,” he said. “The Ministry of SMEs and Startups is investing more than $1 billion in the ASEAN region by 2027 to help K-startups grow into leading global markets.” “We will create a global fund, lead global open innovation by cooperating with global companies in Singapore, and expand the entry of our ventures and startups into ASEAN,” he said.
Editor. Seyeong Hong
