{"id":2593,"date":"2015-12-17T18:31:32","date_gmt":"2015-12-17T10:31:32","guid":{"rendered":"http:\/\/www.www.innovationiseverywhere.com\/?p=2593"},"modified":"2015-12-17T18:31:32","modified_gmt":"2015-12-17T10:31:32","slug":"south-korea-startup-scene","status":"publish","type":"post","link":"https:\/\/innovationiseverywhere.com\/fr\/south-korea-startup-scene\/","title":{"rendered":"South Korea startup scene"},"content":{"rendered":"

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The startup scene in Korea started just a few years ago with the first batch of the accelerator Primer<\/a>, launched in 2010 by the Founder of Daum<\/a>, the 2nd largest web portal in South Korea.\u00a0It \u00a0has really taken off in the last couple of years with\u00a0top accelerators like SparkLabs<\/a>, KSTARTUP<\/a> and FT Accelerator<\/a>.<\/strong> The ecosystem is\u00a0organised and mature, with 10 to 15 accelerators and more than 30 Korean investors, and \u00a0the series A and the seed investors are investing actively.<\/p>\n

The number of startups in South Korea soared to roughly 30,000 as of January 2015<\/strong>, up from a mere 2,000 some 16 years ago. And among that group, 63 have risen to No. 1 in terms of market share in their respective industries.<\/p>\n

Korean young entrepreneurs finally\u00a0start going beyond their risk-aversion\u00a0<\/strong>and the traditional mindset associating success with working for one of the industry leaders.<\/p>\n

They are encouraged by the government which wants to create a \u00ab\u00a0creative economy\u00a0\u00bb, one that favours and encourages young entrepreneurship. Currently, no country in the world has more backing per capita from the government than Korea. In the next 3 years alone, they\u2019ll put $3.7 BILLION into startups in the form of grants and other initiatives<\/strong>.<\/p>\n

South Korea has the 4th highest\u00a0mobile penetration in the world (83%),<\/strong> and the highest credit card penetration (5 credit card per person on average)<\/strong>, which gives endless opportunities for innovation and rapid adoption in sectors such as mobile commerce.<\/p>\n

In April 2015, Google opened\u00a0Campus Seoul<\/a>\u00a0where local entrepreneurs can go to learn, share ideas, and launch startups. That should galvanise the local startup culture.<\/p>\n

Seoul also has a growing number of networking events that are connecting entrepreneurs with partners, investors, and more.\u00a0Startup Weekend<\/a>,\u00a0\u00a0Startup Alliance<\/a>\u00a0(an initiative to support Korean startups and assist their international expansion from the government and business leaders like Naver (Line)<\/strong> and Kakao Daum<\/strong>, the two largest\u00a0internet giants\u00a0in Korea) and beLAUNCH<\/a>, the event of the tech media beSUCCESS,\u00a0which we attended\u00a0last year with 3,000 other people.<\/p>\n

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SOUTH KOREA<\/span><\/h3>\n\n\n\n\n\n\n\n\n\n\n
GDP (in billions USD):<\/span><\/td>\n1<\/span><\/td>\n<\/tr>\n
GDP per capita (in USD):<\/span><\/td>\n25<\/span><\/td>\n<\/tr>\n
Population:<\/span><\/td>\n50<\/span><\/td>\n<\/tr>\n
Population in 2050 (est.):<\/span><\/td>\n51<\/span><\/td>\n<\/tr>\n
Internet Penetration:<\/span><\/td>\n84.33% %<\/span><\/td>\n<\/tr>\n
Mobile Penetration:<\/span><\/td>\n83% %<\/span><\/td>\n<\/tr>\n
Banking Penetration:<\/span><\/td>\n %<\/span><\/td>\n<\/tr>\n
Credit Card Penetration:<\/span><\/td>\n %<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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PROS<\/h3>\n