On November 8, the largest startup event in Korea, COMEUP 2023, began at the Dongdaemun Design Plaza (DDP) in Seoul.
The international three-day event COMEUP 2023 began on November 8 with an opening ceremony.
The opening ceremony was graced by the presence of YU Eui-dong, Head of the People Power Party's policy committee, leaders of startup-related organizations, Jiwon PARK - CEO of SYNDROMEZ, and other participants from Korea. The ceremony was also attended by Sami bin Ibrahim Al-Husseini, Governor of Small and Medium Enterprises General Authority of Saudi Arabia, Abdulaziz Al-Risi - Vice President of SME Authority of Oman, Marc-Antoine Jamet - President of Cosmetic Valley, Olivia Hervy - Chief Ecosystem Officer of Viva Tech, and Howard Wright - VP and Global Head of AWS Startups. Representatives of international governments and global companies also graced the ceremony, making it a truly global event.
A total of 180 delegates from Saudi Arabia and the UAE attended the event. Over 60% of the participating companies were from other countries, making it an international event. Additionally, there was a dedicated "Global Community Zone" that hosted over 100 startups from overseas, further highlighting the event's international nature.
Minister LEE Young proposed the creation of the "Global Startup Ecosystem Network" to attendees worldwide during her welcome remarks.
The startup industry is rapidly growing, and numerous startup clusters are emerging worldwide, including Silicon Valley in the United States and Station F in France. However, these clusters have not had much interaction with each other. To address this issue, MSS plans to connect startup clusters globally, focusing on Korea.
The government is taking steps to support borderless startups. It plans to streamline the process by easing the startup and work visa system. It will establish a global fund worth KRW 10 trillion by 2024 and create a global startup hub centered in Korea to connect with global clusters. Additionally, it will implement a digital network to enable startups from around the world to interact and cooperate without physical space limitations.
The COMEUP 2023 event had 700 attendees from 35 different countries, such as Saudi Arabia, the UAE, the United States, France, Switzerland, Japan, and Vietnam. The event will feature several programs, including conferences, open innovation, COMEUP Stars, and side events.
The conference session named "Future Talk" has been organized with a focus on each stage of startups. The event will feature various topics such as "Do you have what it takes to build a startup?" and "Myth and Reality of Going Global." Jiwon Park, the most prominent Korean musician in the first half of the year and founder of the lifestyle platform "SYNDROMEZ," will kick off the event. There will be 60 speakers covering 21 topics, and the event will span three days.
The event's second day was dedicated to Open Innovation Day, with twenty global companies, including Nvidia, Dassault Systèmes, Hyundai Motor Company, and NAVER CLOUD, taking part. Attendees celebrated the 20th anniversary of open innovation by sharing successful collaborative case stories with startups and exploring upcoming projects for the future.
Visitors got the opportunity to witness the IR pitching stages of COMEUP STARS, which comprised innovative startups representing the industry. These startups were chosen through tough competition, with an average of 7.4 applicants for each selected startup. The event also hosted business matching sessions with more than 160 Korean and overseas venture capitalists (VCs) and corporate venture capitalists (CVCs).
In addition, eight overseas startup organizations, including the FKCCI, KOICA, GEA, and ASEIC, participated in the event to introduce the startup ecosystems of various countries. Other programs and side events were held over the three days.
As part of the "K-Global Cluster with COMEUP" event held in Seongsu-dong, visitors had more opportunities to attend thematic seminars and R&D conferences in the cosmetics, bio, and tech industries. The conferences featured participation from Cosmetic Valley of France and Shonan I-Park of Japan. A round-trip shuttle service was also provided between the event and the main COMEUP venue.
Visitors can register on-site or watch events on the COMEUP website or YouTube channel.
Jake PARK, Chairperson of the Korea Startup Forum, stated, "COMEUP 2023 has a diverse program showcasing startups that shape the world." He added, "We aim to promote active interaction and foster business and networking opportunities within the global startup ecosystem."
Minister LEE Young of SMEs and Startups stated, "We hope that COMEUP 2023 becomes a global platform for startups to exchange innovative ideas and future perspectives." She added, "The Ministry of SMEs and Startups would lead in strengthening the role of the world's startups."