How did you spend your time during the Silicon Valley acceleration program?
We were quite busy here as we had invested our time in preparing many things such as arranging meetings. Leveraging on our original network as well as building a new one here, we focused on revising our presentation content. We gained an understanding of business in the US and could get confirmation regarding the past path that Brilliants had gone through.
Did you make any achievements during this program?
One of our objectives was to tap in on investment opportunities here. We realized that it’d be hard to get investments without a local subsidiary, but we found another chance as we received a proposal for an angel investment here.
We prioritized the local smart TV market to the US market, and it is certainly difficult to predict a foreign market without having a local presence whereas it’d be pretty easy to do so in the local market. We were able to narrow down and confirm things that we had guessed before like having a vague image, by talking with people from the relevant industry here in person. One thing we should not miss is how to secure potential partners and relevant networks, and in this regard we are excited that we will have a great chance to talk with people from the platform and telecommunication industry during the Appnation event at week 5.
Did you experience any change in business proceedings or service during this program?
We planned a smart TV platform which covers the whole market before the program here, but now we are revising it to only targeting smart TV application area after talking with the industry people. It’ll be much more effective to pitch our applications, rather than to bring another platform to those who already have their own platforms. In this regard, we are drawing a technical road map relevant to many functions that we are planning to provide to our customers.
Now that the program’s end is nearing, we are wondering about your future plan.
Regarding the local market, we will start pitching our smart TV applications to potential partners. In foreign business, we have been talking about collaboration with those who we met during this program, and this collaboration does not mean simple consulting, but they actually work with us to pitch our applications by building a network with local cable broadcasters or MSO’s. Thus, we are trying to secure such partners here rather than setting up a local subsidiary.
Do you think Korean start-ups can make a significant achievement by participating program like this in Silicon Valley?
Most times it is unlikely to get a sizable investment without a local subsidiary, but the important thing is how well you are prepared with a visible object and actually run for it here, and this all depends on how you execute all these things. If you do everything on your own to get here, more time and resources will be needed and it’ll take substantially more time even to set the direction because probably you don’t know what to do first. In our case, we were able to materialize our business model and get supported regarding local and foreign business strategies through this program.