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Gyeonggido Business & Science Accelerator (GBSA), opens ‘Pangyo x Silicon Valley: Bridging Innovation’ online Meeting with innovative startups in Pangyo and Silicon Valley Venture Capitals supporting for global market entry. The GBSA (Director Kang Sung-cheon) held an IR event for innovative startups, named ‘Pangyo x Silicon Valley: Bridging Innovations on Sep. 8 this year. The event was held in the conference room on the 10th floor of the CCEI.
This event, aimed at supporting the global expansion of innovative startups to enhance the global competitiveness within Pangyo Techno Valley in Gyeonggi Province, was conducted in a ‘hybrid format’, both online and offline. It was attended by Lee Byung-hyun, the head of the Cluster Development Team from the GBSA, Jung Hyun-wook, the CEO of beSUCCESS, Sunny Midha from Principia Growth, and Catherine Seo from Indiebio.
Pangyo Techno Valley’s innovative startups, including Kim Won-hoe, the CEO of Brainventures, a specialized artificial intelligence natural language processing company, Lee Joon-goo, the CEO of AndOpen, a decentralized facial recognition self-verification solution, and Jang In-sun, the CEO of Fairy, participated and had sessions for service presentations and mentoring.
Sunny Midha from Principia Growth, which invests in fields such as AI and business enterprise, emphasized that startups, when pitching, should understand the global market trends or the culture of the region they intend to enter. Furthermore, he urged them to demonstrate their unique competitive advantages in comparison to competitors in that market. Catherine Seo from Indiebio, a bio-specialized startup program run by the global accelerator SOSV, added that in the case of early-stage startups that are often in the process of developing services or solutions, providing a clear and specific technology development roadmap can be helpful in attracting investments.
Catherine also said, “What is commonly referred to as ‘Silicon Valley DNA’ is about developing and striving to fill gaps or shortcomings to foster industry growth. I believe that Pangyo possesses this DNA to a sufficient degree. It’s important to have an open mind, meet and learn from diverse individuals in the global market, and create global competitiveness. Additionally, in the global market, it’s crucial to acknowledge cultural differences and proactively adapt to them.”
Jang In-sun, the CEO of Fairy, an online behavior-based CRM marketing solution, commented, “Until now, we have developed our service with only Korean users in mind. However, we are now aiming to prepare for global expansion by focusing on developing a service that can be applied in more diverse environments.” She also expressed that the meetings with global venture capitalists were very beneficial in gaining insights into overseas markets.
Kim Won-hoe, the CEO of Brainventures, a specialized AI natural language processing company, said, “It hasn’t been long since we established our U.S. branch, and we needed a US network. Through this online networking program, we expect to strengthen the foundation of our network in the US.”
“In terms of promoting Pangyo Techno Valley startups internationally, we will continue to provide opportunities for startups to introduce themselves to global venture capitalists through direct meetings. We actively support startups in their growth into global companies,” said Lee Byung-hyun, the head of the Cluster Development Team from the GBSA.
Furthermore, Gyeonggido Business & Science Accelerator (GBSA) plans to hold a hybrid online and offline event with Singaporean venture capitals in October to support the global market entry of innovative startups in Pangyo.