Gyeonggi Creative Economy Innovation Center (Director Shin Hyun-sam, hereinafter referred to as Gyeonggi Innovation Center) is in full swing with the US Silicon Valley accelerator USMAC (US Market Access Center) to discover high-potential domestic startups and develop them into global unicorn companies. It was announced on the 24th that it would do so.
The USMAC delegation (co-representatives Alfredo Capola and Chris Berry) visited the Gyeonggi Innovation Center on the 23rd and signed a business agreement for the operation of the Go Global Silicon Valley program.
USMAC is a specialized startup accelerator headquartered in Silicon Valley, USA. To date, we have successfully mentored over 1,538 startups and entered the US market with 646 companies through delivery contracts and PoC. Companies fostered by USMAC are known to have attracted a total of more than 1.8 trillion won in investment and 16 M&As.
This program is conducted for companies whose global capabilities have been verified through preliminary evaluation. The ‘boot camp’ held in Korea for four days will provide consulting services such as Silicon Valley-style business know-how training, 1:1 mentoring, and IR pitching.
Companies participating in the boot camp will be evaluated on a total of six items, including business model and value proposition. Three companies will be finally selected, and will receive 1:1 business coaching from local mentors in each business model (BM) related field for about 2.5 months, including arranging meetings with global potential customers and finding partners, and participating in a pitching event for Silicon Valley investors. Get the opportunity to participate
The two organizations previously conducted a pilot project called ‘Global Growth’ targeting four domestic companies last year. ‘Bitglelim (CEO Park Jin-hyung)’, who participated in the pilot, said, “It was meaningful to have the opportunity to propose our company’s services to the Silicon Valley commercial facility advancement project. Thanks to this, we are currently planning to establish a U.S. corporation by connecting with related U.S. organizations.” He said.
Meanwhile, along with the agreement, a meeting was also held with USMAC and two investment companies of the Gyeonggi Innovation Center. Customized consulting was provided, including the company’s overseas expansion possibilities and BM localization.
Alfredo Coppola, co-representative of USMAC, said, “Through this agreement, a system has been established to discover excellent Korean startups,” adding, “We will provide the best in Silicon Valley to help Korean startups successfully settle in the U.S. market.” “We will actively provide high-level cooperation with our customers,” he said.
An official at the Gyeonggi Innovation Center said, “This boot camp is a global cooperation capacity strengthening program that is being attempted for the first time in the field of supporting overseas market entry,” adding, “We will continue to refine it so that our company can stably enter the target market.” revealed.
The Gyeonggi Innovation Center is a specialized center in the global field among creative economy innovation centers across the country. In the second half of this year, it will conduct influential innovations in the United States such as ‘CES Innovation Award 2022’, ‘Edison Award 2022’, and ‘Code Lunch DFW’ through the ‘Global Star Venture Platform’. We plan to support participation in the challenge.
Source: Pangyo Techno Valley Official Newsroom
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