Vice Minister Kim Sung-seop of the Ministry of SMEs and Startups (Minister Oh Young-joo, hereinafter referred to as the Ministry of SMEs and Startups) visited Silicon Valley, the global venture capital center, for two days on the 9th and 10th (local time) and discussed investment cooperation in K-startups with large local venture capitals (VCs).
First, on the 9th, we visited Stanford Research Institute (SRI), a world-class research institute under Stanford University, and discussed venture investment cooperation plans. SRI operates a venture fund through its own venture investment division (SRI Ventures) and showed great interest in investment in K-startups and R&D technology cooperation. We decided to establish a communication channel so that investment cooperation in K-startups between the Ministry of SMEs and Startups and SRI can be concretized in the future.
On the 10th, a meeting with the world's largest venture capital representing Silicon Valley was held. The meeting was attended by some of the world's best venture capitals, including a16z (Andreessen Horowitz), General Catalyst, Altimeter, and Stepstone, as well as some of the largest investment firms in Silicon Valley. The Consul General of San Francisco also attended. In particular, Stanford University's Professor Andrew Ng, a world-renowned AI expert, attended the meeting and had an in-depth discussion on AI investment.
Vice Minister Kim Sung-seop said, “Korea’s venture and startup ecosystem is growing steadily with government support and the private sector at the center.” He continued, “In particular, Korea is showing its best performance ever with many companies participating in this year’s CES and 210 Korean companies winning innovation awards (as of January 7, Korean time). Venture investors around the world are paying attention to the creativity and challenging spirit of Korean companies.” He asked the meeting attendees to show great interest in and invest in K-startups.
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