NIPA - Workshop Presentations
- 1. Hyung Kyu Lim (hklim@nipa.kr)! Director, Global Startup Team! National IT Industry Promotion Agency!
- 3. 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
- 4. 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
- 5. 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
- 6. 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
- 7. 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
- 8. Culture Entrepreneurial culture - Passion to challenge - General acceptance of risk and failure * image of failure Needs more “Role models”
- 10. Overview of Startup Programs Seed Level Pre-Series A Strengthening Startup Infra/ “Fostering Global Accelerators” Series A~C Growth Startup Investment Stage! Pre-accelerating Accelerating Business Innovation & Re-designing ICT Entrepr ene-urship Training in Developing Countries Startup Korea “Miracle in Se oul” Accelerator Le aders Forum ( ALF) Seed Funding Born Global ! Startup!
- 12. 20 CEOs from Matured Ventures! Re-think à Re-design! à Re-engineer à Go global!
- 13. Future Play The Ventures
- 14. 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