Why Do Startups Go To South Korea: Visa, Markets, Funding

The formation of the Korean business history similar to the dynamics of start-UPS. The sixties. South Korea is one of the most poor States in the Asian region. Today. South Korea broke into the top four of countries with the most favorable conditions for business, more than half of the countrys citizens employed in the service sector, and the economy of the country supports a huge transport and mobile Corporation.

Hyundai, Samsung, LG. What giant strides South Korea has passed half a century this way. The economic miracle cost billions of dollars invested in the construction of financial system a new type. The government of South Korea is obsessed with the idea to build a “creative economy”, the domestic market unique projects that are constantly growing and updated.

In Korea enough new ideas, ready to be translated into products, and it is in the top countries by number of patents per capita. Grow the market of goods and services to help foreigners. They bring here their money and intellectual products.

South Korea is attracting startups from all over the world. Here they find the support of the Korean government, a developed infrastructure, the constant growth of venture capital and numerous programs-accelerators. If entrepreneurs were males in South Korea to them would always be the carnival. The saturation of the market leading products did the trick.

The Korean audience has become sophisticated, experienced and naughty. Businessmen and marketers are confident that the project, which gained public acceptance in South Korea, you can safely bring to new markets. The test of skepticism passed. The prevalence of gadgets and high-speed Internet allows you to quickly assess the success of mobile apps or services.

If the project will appeal to Koreans, you can count on millions of users in a few days. The reaction of users and the number of downloads instantly talk about the prospects of mobile startup. In other countries wait for the reaction for years. A popular destination for business in South Korea — mobile apps.

What other areas can count on the support of. Among the declared priorities of national information technology, medicine and biotechnology, robotics and the creation of construction materials of new generation. Significant market share is taken by online games. The mobile games market is expanding daily, and experts do not even dare to make assumptions about the points of saturation.

In addition to games, much attention is paid to the development of instant messaging, banking and financial applications, as well as creating platforms for online stores. Experts do not recommend to go to South Korea with projects mobile coupon applications or services, delivery of goods. Here supply and demand are already equal. Unoccupied niche B2B market.

All the major startups focused on consumer markets, B2B prospective projects are practically absent. Creating a startup for interaction between business structures, can act without regard to competitors. Startups appear in South Korea almost every day. To open a business there easily, it rarely takes more than a week.

Exotic, the state supports entrepreneurial initiatives like Koreans and foreigners alike. To get the start-up visa, you need to have a bachelors degree and registered in South Korea the company to own intellectual property and to provide a business plan. The requirements are simple and logical, so all the necessary documents the majority of applicants are already available. The problems with accounting documents are missing, many project teams are working without an accountant. The reason is the activity of the market intermediary services.

Thousands of outsourcing companies ready to do the bookkeeping, taxes, preparation of documents for establishment and operation of business. All receipts documenting the expenses of the company, should maintain not less than five years. The startups can count on the active support of the South Korean venture capital funds. The volume of venture capital market in Korea has steadily increased and now exceeds two billion dollars.

The state is vigorously co-financing venture transactions. Creating a multi-faceted venture ecosystem, South Korea is seeking to increase its presence in the global market. KOISRA Seed Partners is one of the key venture capital funds in South Korea, has been on the market for over a decade and has a reliable reputation. Today KOISRA Seed Partners invests in start-UPS more than 30 million dollars annually.

The interests of the Foundation — cloud computing, Big Data, 3D printing, cybersecurity and biotechnology. To apply you need to live in Korea and be fluent in English and work on a business project that is based at least two founders. Selected startups receive funding, free co-working space, advice from successful entrepreneurs, advice for investors and partners in developing exit strategies to the world market.

Capstone venture Fund, which operates since 2008 and has managed to Fund almost a hundred successful startups. Investments start from 100 thousand dollars and over five million. The lions share of the portfolio is intended to the creators of the games, also the high chances of investments are the original Internet services. Strong Ventures is a young company working with startups initial stage.

Offers budding entrepreneurs investing in 10-200 thousand dollars in exchange for ownership of shares of the company (from 1% to 30%). Strong willingly Ventures invests in mobile software and FINTECH concepts. Applications for remittances portals for crowdfunding, tools online lending. The Foundation accepts project proposals by e-mail and notes that the summary is longer than three leaves, the organizers dont read.

Task startups — simply tell us about yourself and your idea. CCVC venture Fund and accelerator that actively interacts with startups at the seed or early development stage, interested in software and it field. The Fund has helped grow dozens of startups, ranging from mobile games and sites for online shopping to projects related to the Internet of things and Big Data.

Startups are megalopsy competitive selection, the best will be invited to six-month courses of it engineering and have access to all the necessary infrastructure. Altos Ventures is a venture Fund that prefers to work with projects that are still in the idea stage. The Foundation funds a small number of startups, but large amounts. To date, Altos Ventures invested more than $ 60 million in 65 projects.

Works with the it sector and in particular the software market. Smilegate Investment — venture branch of the gaming giant Smilegate. The company is sponsoring or acquiring promising players in the digital content market. Online gaming and applications.

Also in the area of interest Smilegate Investment projects related to environment and renewable energy. SL Investment in the Fund may seek investment startups at all stages of development. SL Investment focused on biotechnology, mobile business and consumer products of new generation. Especially loyal Fund applies to “green” projects aimed at environmental protection.

In South Korea there are a lot of accelerators willing to invest their financial and educational resources in promising projects. Kstartup is a large startup accelerator in South Korea, providing budding entrepreneurs seminars, educational courses, participation in exhibitions and recommendations for attracting investors. In 2016 the admission of applications will start in March, the best projects will receive seed funding, are equipped with areas for working and expert support.

Samsung Accelerator is an innovative division of Samsung that invests in new projects. The accelerator provides startup companies with Finance and access to engineering system. Aspiring inventors and entrepreneurs can freely communicate with experts. Samsung Accelerator emphasizes the orientation on a stand-alone development start-UPS, but most of the projects who grew up under the wing of Samsung in the future become part of the Corporation.

SK Planet is part of the telecommunications giant of Seoul, invests in development projects in the later stages. Among the priorities — communications, information technology, marketing communications. Future Play — the accelerator not only helps in the development of young projects, but also regularly organizes six programs to create successful startups from scratch.

From idea to business plan. Offers financing, patent support, advice from experts, and spacious work areas equipped with advanced tools (including a 3D printer). Bootstrap Labs — a program founded successful startups. “We know that face aspiring entrepreneurs.

What are the global problems they face, what help they need, why throw many ideas unrealized. We got through it and are ripe to invest primarily in promising people and not in profitable projects,” say the founders of Bootstrap Labs. Daedeok Innopolis it town, where more than 20 laboratories and more than 40 research centers. Daedeok Innopolis is called the heart of the creative economy.

This place attracts start-up entrepreneurs due to the high concentration of scientific, technological and human resources. In Daedeok Innopolis have created more than 10 thousand patents. Of a team working on it start-UPS, tax breaks, technical assistance and access to cooperation with the scientific and investor groups. Startups surrounded by excellent infrastructure.

Housing of different sizes, the transport within the campus, library, fitness centers, hospitals, exhibition and concert halls. Maru180 — coworking center located in Seoul, provides young entrepreneurs to rent space and to use smartphones, tablets, computers, virtual reality devices. It regularly hosts training sessions and business classes.

Applications for rental will be accepted from teams in may and November. Startup Alliance — multiproject, the sources of which the state, major conglomerates in South Korea, scientific authorities and gurus of the it industry. Startups get the working area, the necessary infrastructure and seed capital. Regularly perform there famous speakers and hosts international conferences.

D-Camp is a large co-working platform in Seoul, offering technical and office sites, development programs and access to venture capital. Members of the D-Camp organize round tables, discussing each others projects and sharing ideas. Monthly co-working in dozens of events are held. Intel Innovation — Intel campus in Seoul.

Collaborates with developers of computer software and mobile applications, equipped with the latest technology. Seoul Global Centre — innovation centre, positioning itself as a leading Asian business hub. Startups provides a comprehensive technical, marketing and organizational support. At the center is a mini-representation of Korean and foreign venture capital funds, allowing entrepreneurs to work on projects and get financial support in one place.

South Korea has overtaken all countries in the world by level of development of it infrastructure. 80% of the population actively using smartphones, the average Internet speed is 50 Mbps, and new trends catch up here in a few minutes. The startups go in Seoul as a testing ground for digital content.

To create a project, get startup capital, check out the startups — everything is possible in South Korea.

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