The ‘Korea-US Joint Fund Formation Agreement Ceremony’, which will be a stepping stone for Korean startups to advance into the global market, was held at the ‘Korea-US Startup Summit’ (hereinafter referred to as the Summit) held at Pier 17, New York, USA on the 21st (local time) by the Ministry of Small and Medium Enterprises and Start-ups.
A total of 215 million won is created by Korea Venture Investment, which operates a parent fund, and US venture capitals ‘RPS Ventures’, ‘Millenium Technology Value Partners’ and ‘Applied Ventures’ It supports investment and overseas expansion of K-startups. through a $10,000 mutual fund.
The joint fund expects that K-Startups will form a network with global venture capital and will be of great help in attracting investment and moving forward into the global market.
Minister of Small and Medium Enterprises and Startups Young Lee, Bhatia Google VP (VP), Rosenberg Oracle SVP (SVP), Park Won-ki, CEO of Naver Cloud, Gong Young-woon, President of Hyundai Motor Company, Kabir Misra, RPS Ventures (RPS ) Ventures) and others are holding a ‘K-Startup Joint Nurturing Ceremony’ to pray for the growth of K-Startup to become a big global startup (unicorn).
At the ceremony, as the attendees lit the lights of the statue which symbolizes ‘K (K)-Startup’, the scene where ‘Star’, which means startup, flies high in the sky and grows into a unicorn along with the magnificent music of the participants. pledged to cooperate and grow the Korean-US startup ecosystem.
Minister Lee Young said, “Through this summit, it was an opportunity to reaffirm the will of those involved in the start-up ecosystems in both countries to support new businesses. “I’m looking forward to reaching out into the world and growing into a global unicorn,” he said.
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