From ideation to commercialisation, the Korea Institute of Startup and Entrepreneurship Development is providing systemised support to nurture start-ups at varying stages of maturity.
As of 2021, KISED has nurtured more than 40,000 tech-based start-ups, while generating over 140,000 jobs and listing 38 start-ups on the second trading board of Korea Exchange KOSDAQ.
“KISED aims to accelerate the globalisation of local start-ups. For instance, the Global Market Expansion Programme provides a head-start by supporting market research efforts. We are also working with more than 60 partners worldwide to expand the global footprint of South Korean start-ups,” shared Mr Kim.
This is done through the K-Startup Center (KSC), which helps budding South Korean start-ups that wish to enter international markets find their bearings in new ecosystems. Its international partners include the Silicon Valley-headquartered Plug and Play and Singapore’s NUS Enterprise. With support from the latter, KSC Singapore was established in July 2020 and serves as a launchpad for Korean SMEs and start-ups in fields such as financial technology, artificial intelligence as well as energy and environment.
Beyond taking care of local start-ups, KISED also extends support to non-Korean entrepreneurs via the Overseas Assistance for Startup Immigration System, helping this segment secure the necessary visas and launch their businesses in South Korea.
Learn more about KISED and its support packages.