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  • KITA to Conduct Overseas Testbed in US for Korean Startups
    2020-09-09 hit 1628

                 KITA to Conduct Overseas Testbed in US for Korean Startups

    - Opportunity for Korean competitive startups to demonstrate their solutions and products with large American companies such as Walmart and FedEx -

     


    The Korea International Trade Association (Chairman: Kim Young-ju) has started supporting Korean startups to advance into the United States.

     

    On September 4th, the Korea International Trade Association signed a business agreement with Gangnam-gu, the Korea Venture Business Association, and Startup Junkie, an American startup support foundation, to give American consumer goods companies an opportunity to verify Korean startups' new technologies and announced that the body will carry out the “overseas testbed” project.

     

    10 US conglomerates with global distribution networks, including Walmart and FedEx will participate in this project, and the selected startups will be given the opportunity to apply their solutions to these companies or sell their products in the stores through customized consultation from local accelerators. As for the local accelerator, the Startup Junkie, a foundation directly funded and sponsored by the Sam Walton family, the founder of Walmart, will play the role.

     

    The startups that are interestd in participating in the project can apply from September 11th to 25th via the open innovation platform Innobranch (www.innobranch.com) and the Gangnam-gu website (www.gangnam.go.kr).

     

    Cho Sang-hyun, chief of Global Startup Center at the Korea International Trade Associaiton, said, “This project is priceless opportunity for Korean startups who are struggling for global expansion in coronavirus crisis to conduct proof of concept (PoC) and pilot test with large American companies,” and added, “We hope that this project will be an opportunity for Korean competitive startups to lay the foundation for their global expansion.”



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