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Today's fifth episode.

This is the fifth announcement of the day.

Team Leader Namgung Sun of Seoul Economic Center, who supports Seoul's start-ups' scale-up, will give an announcement about Seoul's start-up support policy.

Please give him a big round of applause.

Can you hear?

Yes.

The microphone isn't playing, so I'm a bit clueless as to whether you can hear me or not, so I'll assume you can hear me. Hello. I'm Namgoong Sun from the Seoul Economic Commission. What? The Seoul Economic Office is a large organization in Seoul. It mainly supports small businesses in Seoul. I mainly support industries that Seoul is developing, and I work for a company that supports start-ups in Seoul.

I work at the start-up headquarters in Seoul. We don't have a complete plan for Seoul's start-up policy, but the Seoul Economic Committee's start-up headquarters sends a lot of budgets to Seoul regarding the start-up, so I'd like to share some information about that with the people who plan the start-up policies here in Seoul.

I'll tell you briefly because I think it'll be helpful for those who set up their own business.

Since Lee Cheon-gu, the Seoul Metropolitan Committee has started the start-up policy. I'm not sure if you've heard of a 1,000-year project. We picked 1,000 young people and gave them rooms and subsidies every month to start their own businesses. After that, as the start-up boom increased, we started supporting various businesses in Seoul related to start-ups. Yes.

And until 2,017 years of age, we started making lots of places for corporations to live under the name of childcare. So last year, we built about 30 residential facilities in Seoul alone, and that's downgraded. There were a lot of start-up cafes before, but there were only 30 large ones this year, and there were only 25 this year.

I'm sure you remember, but around 2017,

The concept of starting a business isn't just about childcare or consulting, but that it requires investments. In a way, the paradigm has changed. Before that, we thought the companies would grow if we gave them an office and hired some experts to mentor them, but as VCACs gained a lot of attention and started attracting start-ups in 2017, people started calling them CEOs and CSOC levels.

It's about 2017. Starting from 2017, we don't just focus on the quantitative infrastructure of the start-up support facilities.

What kind of cooperation do you have with investors A and VC? It changed the paradigm of supporting businesses from 2,017 onwards.

As the Industrial Revolution progressed, we divided up specific categories to lead the industry and started supporting them by category. As you can see, the city has been making bio zones, AI zones, and fintech zones like this.

It's like a brag for us. After applying for about 11 years, they found this startup, this job was created, and companies invested a lot in it. Well...

That's why I'm proud of it. That's why I've won the CS Innovation Award, and there are currently 22 unicorn companies in Korea, about 20 of them are based in Seoul. The size of the start-up ecosystem in Seoul was around 2019 or 2020, so it has already grown five times in less than a few years.

Seoul's start-up ecosystem is growing a lot.

That's why the number of unicorn companies in Korea increased so much. Did any of you see that? Seoul's global start-up ecosystem ranked 12th last year. The first time we entered was in 2020, when we entered the top 20 and made it to the top 16 and 10. But we stumbled a bit last year. This June, it'll be officially released, but since we're members, the reason you told us in advance is that this year, we'll probably be above nine.

In Asia, China is very big, and Singapore is making progress, and in the Middle East, we are doing well.

So, it's growing a lot.

It's growing on a huge scale, but the problem is that compared to the number of unicorn companies in other advanced countries, the number of unicorn companies has risen three to five times. So the people of Seoul are very concerned about how to resolve this.

So what I'm going to talk about today is this that was introduced last year.

In 23,330, we announced our start-up policy last year to support it in a more meticulous category. I'll briefly talk about the content. I'm sure there are many companies that are involved with AI today, so I'm sure some of them are applicable, but I heard that it's AI for everything, so I think all the content here will be combined with AI.

To launch this global start-up city into obscurity, the city had about four main points. As you can see, i want to build a global start-up city brand. We'll also support the development of scale-up start-ups. And we'll nurture the future industry's start-up. Lastly, we'll activate the high-tech manufacturing-based start-up. I'll tell you what you need to know one by one.

As I said at first, we were aiming for 2,330 years, so there are a lot of things that are still in the planning stages rather than progressing right now.

The first step is to build a global start-up brand and a step-by-step start-up. There are a lot of details, but I've only narrowed it down to a few things that you can intuitively know and think are important. The first goal is to create the Seoul Unicorn Hub. I heard that what you're seeing right now is an AI-made blueprint. We're not sure if it's going to be shaped like that or if the building will change shape.

As you can see, Seoul Forest will be built on the parking lot of Inje Park. It's huge. It's about 3003, 12,000 square meters. The goal is to have 1,000 start-ups in which we can support and restore the entire ecosystem with the start-up ecosystem players. In fact, you probably know that we don't have hubs on that scale in the country. We don't have start-up hubs globally.

There are a lot of them. The first comparison is that Stasion EFF in Paris is also a large-scale company. And then there's a launch pad in Singapore that's of that magnitude that I've never been to, but that's what I've heard. And we have a similar scale in the UK, but Korea doesn't have it, and Korea is the only country in the same top ten that doesn't have it. So we're aiming for the year 2030. Our current plan is for the city

If it's led by the government, it's usually very bad. Since there are a lot of restrictions, we need to think about public service, and we can't give benefits to just one person, so we need to let private entrepreneurs take charge. So our current plan is to see if there are any places in Korea that can do it, such as Google, Flag and Play, or WYCOMBINATOR, or VC from overseas, we'll invite those who are good at running the business

We're currently planning to put them in charge of operations. We're just reviewing it to make sure it's legal. And they create a space where the citizens can actually empathize with the citizens about what they're producing here, and they create a space where new technology can be used in parking lots and other places. Lastly, the most important thing is that we created a private fund for the residents.

We're planning to invest about 20 billion won from Seoul and raise about 100 billion won from mortgage funds and other public funds so that the corporations can grow well.

how to configure and operate the unicorn hub, and it's not just the hardware that's important, it's also the software that's in it that's important, so how do we support it, how do we run the applications, and I think that's currently in place. So when we get to a certain point, we're going to break down the configuration, who's going to be in it, how we're going to do the layers, how we're going to do the space. In the past, we used to put start-ups at the lower level and VCDs at the lower level to promote networking and investments, but we didn't know if it was effective or if there was something we missed.

I'm interviewing Edda, a pre-unicorn, or a unicorn company, and I'm embellishing it through the survey. So if you wait a bit, the embellished content might be published.

In order to create a global start-up city, as you've mentioned earlier, besides participating in exhibitions where Korean companies have achieved great results overseas, such as CS and MWC, we plan to create a global start-up base. This is actually being carried out by the Seoul Economic Economic Economic Economic Economic Economic Economic Economic Economic Economic Economic Economic Economic Economy, which I'm a part of, so I'll tell you more about this in detail when you come back later.

Also, if you're curious, the third direction was to nurture start-ups for future industries, which came from Seoul, which is a government office, so most of the content was about where to build buildings, which clusters to nurture. They want to build their own facilities. But when we support start-ups, we realize that once we have a base, the network is formed and it develops. That's why I think the city's purpose is for software and programs to be run naturally

I think that's the purpose. I believe that the hydrogen is being built with a direct facility related to the robot in order to grow the robot start-up company. Well

It's supposed to be built by 2026, so I'm not sure about the exact location, but there's a public parking lot there, and it's being built on a 36-story-high building on a seven-story-basement, and it's being built on a very large scale to make sure that any prototype of a robot, any technology of any kind, or any kind of technology that's been developed, can be used to create a real-life experience and the people involved with robots in this country are

It's not very thick, so they also provide training for workers. The second group is a fintech company, and fintech companies have fintech hubs in Yeouido and Mapo. But they sent all the money to Yeouido and sent it to a fin tech in Yeouido.

By 2030, about 170 buildings will be built, and they're also planning to build a fintech-related business to make it possible.

and then we're going to do the bio-cluster stuff as well. As you can see, we have robots, fintech, biotech, and these four AI companies, but when it comes to biotech, we have a biotech hub in Hongreung, so we provide biotech support, but we can't say that Korea is very advanced in biotech yet, so at the end of last year, the global cooperation agreement was developed overseas.

We're trying to recruit a pharmaceutical company and a research facility so that they can do research together. So the completion of the bio-complete infrastructure in hongneung will be carried out until 2027, and the city announced that they will create a bio-fund and continue to invest. Lastly, we're going to build an AI Seoul Global Business Cluster in Yangjae, which currently exists, and we're going to put them in one place.

It's going to be built on the site of Yanggok Wholesale Market by 2028, and when we received the results of the survey, the Global AI ranking was announced in 222, and Korea performed the entire Chilesth Period. It's actually very high around the world, but it's high when it comes to development and infrastructure, but it's very low when it comes to, you know,

The average is seven, but there are some that are much lower than others. That's the research level. And in order to attract people who are not as good as us,

We'll create an AI Seoul Tech City, and there will be educational facilities related to nurturing talent, and we'll have a global company or research institute move in and develop collaborative research projects with them.

Through open innovation, they plan to attract companies with the needs of enterprise technology overseas and continue to build platforms that will allow Korean AI companies to grow. What you've just seen is a proposal to nurture future start-ups. Lastly, the fourth direction we're looking to take to the next level in 2030 is to activate a high-tech manufacturing-based start-up.

Among the 22 unicorns, none of them are high-tech. For example, we don't have unicorns related to semiconductors or aerospace.

Korea has been following the model in Silicon Valley, so there have been many businesses that are related to apps and platforms, but it's not a big market for Korea to maintain, so it's not something that can be very active. That's why we decided to activate the high-tech manufacturing foundation that we've been missing. Seoul.

With the agreement that we will open a manufacturing start-up hub by 2027, the South Seoul Correctional Facility in Gocheok-dong is currently being built in the area where it's being relocated, and it started in 222, so I'm sure some of the preparation is done. We're aiming for a grand opening in 2,277, and it's going to be on the eighth floor of the earth. It's a very big project. So, if you come to us with an idea for a little bit of a slower manufacturing time, we'll design it, design it, make a prototype,

If we need more production, we'll make it so that connecting civilians can all happen in one place. We'll also create investment funds for high-tech manufacturing. This one, too.

This year, Seoul can only pay about 20 billion won. As I mentioned, some private companies want to make funds and invest in high-tech manufacturers. This is a way for Seoul to grow to be a good place to start a business by 2030, and this is a plan for the next 2,000 years, so I'm sure you don't have access to anything right now.

What you're probably wondering is what kind of support I can get right now. We have about 25 strongholds in Seoul. I have a lot of infrastructure related to small start-ups, but some people ask me if I spent a lot of money to start my business in Seoul. It's not as if we can see everything as one, but we can see a lot of things one by one. So

On the right-hand side, you can see that the hubs are large, and the smaller centers below them are either centered in some industries or on a small scale. There are 25 municipal start-up support facilities that support programs where you can easily move in and get help. In the case of Gongdeok, the founder of Seoul, 2010.

It was created in 17, and it's the first big hub, so I thought you could call it one of the first hubs that supports Seoul's establishment. There are 100 to 20 to 100 companies that can move in, and the first marret is the cost. The cost is about a tenth of that, and about a fifth of that compared to the market price, so if you're starting a business for the first time or if you have any problems at the office, you can always knock on the door.

I wrote that it's a Seoul start-up hub, but the start-up policies that Seoul support are all similar. There are four categories. As you can see, the third incubation is related to the most common move-in activity, and we can't support companies with money, so making a platform for companies to grow is the most important thing. In the satisfaction survey of the most popular start-ups these days, open innovation is number one. Through collaboration with enterprises.

Whether it's C, selling products, or even getting into Exis when you're out in the world, it's open innovation, but most of the businesses in Seoul are currently doing open innovation, advancing abroad, and residential facilities. And lastly, the activation of the start-up ecosystem is mostly happening at Gongdeok. I'm going to tell you one by one.

Open innovation, as you all know, is when large corporations have needs, but they don't know who they can get the solution from, they come to us because organizations like us are the interface with start-ups. If you come to us with a desire to find companies like this, we can ask the start-ups and match them with open innovations, but in our case, it started around 2019 and grew a bit since about 222 years ago. Not just us, but also the Creative Economic Innovation Center and the Trade Association.

Most of the people on the side are doing this kind of open innovation. So after you do this, you do what? Instead of selling something or giving you a solution, it could be a stepping stone to getting investment. Regardless of the result of the open innovation, from an investor's point of view, the company has gone one step further.

in terms of performance. So there's a couple of cases where we find some really good value there, and then there's some cases where we support it and it actually pops up as a product. For example, Ogi Beer is a company that we've been working with for a long time, and Obi Beer has some hops left over after it's made. Is it called Beer Bak? I heard that beer baskets have nutrients, so it's a good ingredient for cosmetics. Some of them were sold as cosmetics. Some of them are currently in progress.

There are some companies that have good results. So not only are we doing these open innovations, but most of the start-up organizations in Seoul are also doing them, so please keep an eye on them and if you can find a way to match the services and products that you have, I recommend that you use appliances.

And the second thing I mentioned earlier is the globalization of the start-up ecosystem, but the market isn't that big in Korea. It's small. So in Korea,

It's a small market to play in, and most people are trying to go global, but exhibits were the number one priority back then. There were a lot of exhibits where I participated in the exhibition or on a clock, but it's possible for a finished product product to come out, but it's not possible for a solution. So in our case,

I'm looking for a route. So what we usually do is four categories, like the three I saw earlier.

There are some countries where it's important to establish a corporation on the ground. Vietnamese and Singapore. However, we can establish a local corporation and provide a package that allows us to use our products in a practical manner. Last year, two years ago, we did POC in Spain, and in Spain, we looked for companies that could apply our products, hotels, and other solutions.

After applying it for three to six months locally, it was continuously displayed by vendors or investors in the places with POCs. So if you don't have enough domestic POCs and you want a real overseas market, one of the companies that had good POCs in Spain

I had the solution for the ARVR.

In the basement of the mall, there was an aquarium for kids to play in, so the companies and the kids who visited the mall had a lot of fun. From there, I took the visible results and came back to Korea and received 30 billion dollars in investment, and even today, I founded a corporation in Spain last year to sell the solution. Now that we've seen how effective it is in Korea, it's not easy for us to say that we want to go abroad from the beginning, so I recommend that you take part in the overseas POC program that we're working on. And thirdly, as you can see, we do global support with overseas investments and IRs so that they can expand overseas.

What you see at the bottom is what I'm going to talk about later, but we have six branches. It's not that it's a big deal, but when you're on a business trip for a long time, you sometimes run out of space. At the moment, we've set up places in Vietnam, Singapore, Spain, and India. If we let them know, they'll be able to use our office for free and receive four hours of local training for free.

You can start your own business and use it through merit.

I think I can say this briefly because there are 25 entrepreneurial support facilities, and you can get incubated at those facilities. We can move in and provide investments, as well as local networking, VCY networking, and ACY networking.

Now, what I've said so far is that you might be asking yourself, should I look for it individually, but I think the only thing that you need to remember today is this. One of the things that we're running is called startup plus. It's a little small, but if you type startup plus in the search bar for Naver, you can connect to it right away. You don't have to look for them individually.

You can go in there and find all of that, and then you can go even further and invest through that platform. And then the platform there is not just for you, there are investors like VC, Mr. A. I believe there are 114 companies that have come in, and their investors are coming in and looking for them. There are cases where we actually go to companies that are registered so that they can search for us, and in your case, if you apply to the VCs and ACAs listed on the list and ask them if you'd like to consult with them, they'll do it. We consult online, and sometimes we consult offline.

Some companies received 30 billion won from funding from us last year. So if you join a startup + company, you'll be able to find information about all the support projects in Seoul. It's hard to find investors for the second time, but you can match them online. So you can apply there for technical business transfers. So if you look at the roles at the bottom, it's Seoul City.

to integrate the support businesses that you support, and then you can go and apply online right there on the spot.

We'll share the details of the meetings and matches with investors that we talked about earlier, and then there's a technology market that says it's possible to use the same platform as before. You can take a look at it, and it has all the information about the direction Seoul will take until 2030 that I explained to you today. That's why you should look at the direction

You can take a good look at what kind of businesses the Seoul Business Support Center does and what benefits you can receive, so it'll probably be hard for you to remember everything today. As soon as you're done with Startup Plus, you can go online and search for it. That concludes my presentation. Thank you.

The.

Please give a round of applause to Team Leader Namgung Sun who gave a detailed presentation on the key start-up support projects.

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