Eleven enterprising Korean startups pitched their innovative services and products on May 15 in front of a panel of expert judges at the final event of the “Expand North Star” Korea Roadshow edition. Expand North Star, the largest startup exhibition held annually in the UAE, is scheduled for October 15 to 18 this year. Neutune, a Korean startup that has developed an AI-based music creation platform, won the competition and got a direct entry for Expand North Star’s event.
The Dubai Chamber of Digital Economy (DCDE) and Dubai World Trade Center (DWTC) joined forces with Ace Marketing Co., Ltd., the official domestic agent of Expand North Star in South Korea, to host the “Expand North Star” Korea Roadshow edition for Korean startups. The Korea Roadshow edition of “Expand North Star” spanned from April 14 to May 9, during which Dubai World Trade Center judges conducted online preliminary rounds to evaluate approximately 100 Korean startup companies that applied for participation.
The roadshow featured key sessions highlighting the potential synergies and opportunities in fostering collaboration between the Korean and Emirati startup ecosystems. The final pitching round of the event took place on May 15 at Maru 180 in Yeoksam-dong, offering a platform for 11 Korean startups to showcase their innovative ideas and connect with global investors and buyers.
Expand North Star, held at the GITEX exhibition in Dubai, is a significant gathering of world-class investors and buyers. GITEX is renowned as the world’s largest IT exhibition, alongside CES in the United States. Through various programs, including pitch competitions, Expand North Star aims to provide investment matching opportunities for promising startup companies worldwide.
At the Korea Roadshow edition event on May 15, several prominent business leaders in Korea, startup founders, and past winners of the pitching competitions delivered compelling talks to the participants. Suk-Whan Chang, Chairman of Asan Nanum Foundation, an NGO set up to support entrepreneurship in Korea, delivered a speech about supporting young entrepreneurs and startups in Korea, the Korean startup ecosystem, the expansion of Korean tech startups to international markets, the popularity of Korean culture abroad, and the role of Dubai as a business destination for startups.
Suk-Whan Chang said, “The Korean startup ecosystem has been very active. Many successful businesses and unicorns have emerged with the support of governments and private-sector investors. We have recently seen Korean tech startups with creative and sophisticated ideas search for new markets and funding in countries like Singapore, the Middle East, Japan and the US. Expand North Star presents another chance to introduce Korean Tech startups in AI, Bio, Fintech, Healthcare, and Blockchain, among others.”
Khwala Alsuwaidi, manager at the Dubai Chamber of Digital Economy, introduced the benefits of doing business in UAE and shared details about the startup’s exhibition at Expand North Star. Zarko Ackovik, the commercial director of the Dubai World Trade Center – where the Expand North Star event will be held, also delivered an introductory speech. “We’re looking to bring 1,400 startups to the show. We had 680 investors last year, and we’re trying to bring 1,000 investors this year to the event,” Ackovik informed.
In the final round on May 15, 11 Korean startups were given a platform to pitch their services and products to five judges, experts in startups, investing and technology. The judges on the final day of pitching included Yun Kyung Whang, Director General, of the Seoul Center for Creative Economy & Innovation, Alaa El Huni, Chief Business officer, of CAFU, Sang Bae Lee, global manager, of Korea Venture Business Association, Henry Chung, Managing Partner, KAIST Venture Investment Holdings and James Jung, CEO & Founder, beSUCCESS Media Group.
Korean startup Neutune, which has developed an AI musical platform, “Mixed up Review,” won the pitching competition. Neutune aims to revolutionize the music industry by offering an AI-powered platform that encourages user participation, simplifies music creation, and facilitates the sharing of creative works. Neutune offers a “no code music creation” service for creators to easily create their music and share it with others while also being able to listen to and create music from established artists.
The final winners of the roadshow pitching competitions, that is held worldwide receive extensive support for their participation in the Expand North Star exhibition in October 2023. This includes exhibition booths, air travel, lodging, and an exclusive entry to the finals of the prestigious Supernova Challenge (Pitching Contest). The Supernova Challenge has gained significant recognition in the startup world as it serves as a platform to promote participating companies to leading global investors. In 2023, the cash prizes for the winning startups have been raised to $200,000, considered as the largest cash prize pool at any startup event in the world.
In 2021, Korean AI startup DEEPBRAIN AI emerged as the Grand Prize winner, receiving a prize of $100,000. The following year, Allink triumphed in the Fintech category and secured a prize of $8,000. Beyond monetary rewards, the Supernova Challenge offers invaluable opportunities for startups to attract investments from prominent industry players. On May 15, Danny John, Vice President from Allink, who won the Fintech sector competition in the previous year’s North Star Supernova Challenge, is introduced to share their experience and provide advice on pitching and preparation. Danny emphasizes the importance of both content and delivery in making an impressive pitch.
Since 2022,the Dubai Chamber of Digital Economy has partnered with the Dubai World Trade Center to organize global roadshows for startups worldwide. The roadshows held in Asian, African, and European countries in 2022 have yielded fruitful results, with standout companies from those events also participating in the upcoming Expand North Star exhibition. The Expand North Star roadshow edition in Korea represents a significant milestone in the pursuit of global collaboration, further promoting the growth and recognition of Korean startups on the global stage. As the event unfolds, the world eagerly awaits the emergence of ground-breaking ideas and partnerships between Korean startups and international investors.
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