Hyung Kyu Lim (hklim@nipa.kr)!Director, Global Startup Team!National IT Industry Promotion Agency!

Policy

Top-down approach - “Creative economy” is the President Park’s key strategy - focus on the innovation and entrepreneurship to boost growth & employment - startup-growth-collect-restart circle - MSIP(Ministry of Science, ICT and Future Planning) - SMBA and government agencies provide supporting program Plan ahead to vitalize the market - Policy to vitalize venture ecosystems * Seed fuding, M&A - Culture : image of failures, re-start Huddles are existing for global collaborations - immigration policies, labor laws

Support

Infrastructures World fastest IT/Technology infrastructures – broadband, mobile Lack of grass-root support like communities & events è Huge changes recently with the startup booms * B2G center : academy, meet-ups, networking events Incubators – 250 university incubators Co-workspaces - Private : Maru180(Hyundai Group), d.Camp(bank Associations), - Private-Public : Dream Enter(Entreprenureship Foundations), Startup-alliance(Public-Private IT companies) - Public : B2G Center (Public) Accelerators : 20 accelerators

Market

Size : domestic market is small Addressable market is small è needs to expansion to global market Players are networked but competitive * On-line/mobile games, Apps Dynamics : good for test bed Technology-oriented, High-tech early adopters Sophisticated customers, Speed is valued

Human Capital

One of the most important factors : Team & guidance Talent Pool & affordability Highly skilled engineers/researcher are available from universities, research institutes, and industry Influx of talents to startups from elite schools and consulting industry - returnee, diaspora Guidance Serial entrepreneurs are emerging Mentors/Accelerators/VC and Angel investors

Finance

Affordability of funding - Auditions : private, public - Accelerators - Angel investors/Groups : 6,566 investors/ $60mil(’13) - VC : 92 VCs, 413 funds - Loan : Korea Technology Finance Corporation * Financial Assistance to New Technology Businesses Act - Government programs : R&D (TIPS) Potential for exits in the form of IPO or M&A

Culture

Entrepreneurial culture - Passion to challenge - General acceptance of risk and failure * image of failure Needs more “Role models”

Overview of Startup Programs

Strengthening Startup Infra/ “Fostering Global Accelerators”

Seed Level Pre-Series A

Growth

Startup Investment Stage!

Accelerating Pre-accelerating

Business Innovation

& Re-designing

Series A~C

ICT Entreprene-urship Training in Developing Countries

Startup Korea “Miracle in Se

oul”

Accelerator Leaders Forum (

ALF)

Seed Funding

Born Global !Startup!

20 CEOs from Matured Ventures!Re-think à Re-design!à Re-engineer à Go global!

Future Play

The Ventures

Values

Players Values

Executing Agency Apply policies to the market Obtaining feedback

Government Test policy in the actual market è Redesign the policies

Accelerators/Incubators Exchange methodologies Building global networks

Startups Obtaining global resources Utilize global platform to expand the business Collaboration with global players

Global Accelerators /Partners

Hands on access to the screened/ready-to-go startups Building regional networks

Investors (Angels, VCs) Access to the innovative startups