The first rainy day of the year didn’t stop startups, entrepreneurs and eager students from taking part in VentureSquare’s 2013 Global Startup Conference, held on Wednesday at COEX. The full-day event which attracted a crowd of over 300, gave a wrap-up of trends and developments for startups in 2012 and looked at what the future might hold for the industry in 2013.
The event began with keynote speeches from two individuals with experience in the global venture scene. Jimmy Kim, founder of Silicon Valley-inspired accelerator SparkLabs, and Ludold Ebner-Chung, the general manager for Korea’s branch of the global incubator Team Europe, spoke about trends and the direction of startups in both the US and Europe. CyberAgent Ventures also gave a presentation covering its activities in Japan and around the world, along with its hopes to invest in more Korean companies.
Startup policy and global support programs lined up for this year were introduced by representatives from the Small and Medium Business Association and KISA (Korea Internet and Security Agency) as interest in startups continues to increase across the board.
Speakers at the conference discussed the increase in venture capital and angel investment, various new policies for startups from the government, and predicted that conglomerates will be more involved in incubating and accelerating startups during 2013. Startups were also told to be flexible and fluid like larger companies, rather than just focus on making products that follow the latest trends or trying to be too perfect.
CEO of VentureSquare Seungeun Myung said, “Many people only think of the US when talking about startups, but there are many Korean startups with the potential to succeed in the global market. Once a mutual network is formed between the government, conglomerates and startups, Korea will play a major role — not only in Asia but also in the global market. We plan to develop more programs that will further assist companies.”