The Invention Lab Co., Ltd. (CEO Jinyoung Kim) announced that it has signed a strategic partnership (MOU) with domestic toy company Toytron Co., Ltd. (CEO Youngsook Bae) to discover promising startups in the toy and content industries and to advance into the global market.
This agreement aims to leverage the capabilities and networks of both companies to support Korean startups in achieving tangible business results in Southeast Asia, particularly in the Vietnamese market. The Invention Lab will provide its years of experience in local proof-of-concept (PoC) testing in Vietnam, while Toytron will combine its industry expertise to accelerate the overseas expansion of toy and content startups.
Under the agreement, The Invention Lab will scout promising startups through its startup discovery program, and Toytron will jointly evaluate the companies' technological prowess and marketability to explore the possibility of strategic partnerships or technological collaborations.
“The toy industry is rapidly converging with adjacent areas such as content, education, and platforms, and collaboration is essential for global expansion,” said Jinyoung Kim, CEO of The Invention Lab. “Through this collaboration, domestic startups will secure competitiveness on the global stage.”
A Toytron official said, “Through collaboration, we expect to be able to discover startups with both technological prowess and marketability at an early stage and concretize strategies for entering emerging Asian markets, such as Vietnam.”
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