Gangnam-gu, the dynamic district synonymous with innovation and dreams, has embarked on a groundbreaking journey to bolster its thriving startup ecosystem.
With a strategic focus on fostering entrepreneurship and enabling global expansion, the district has launched a series of initiatives aimed at propelling its startups onto the international stage.
In 2023, the Korea Venture Business Association (KOVA), in collaboration with Gangnam-gu, unveiled the ‘Global Startup Investment Briefing (IR) Activation Project.’ Gangnam-gu is propelling local startups onto the global stage through its ‘Startup Overseas Testing’ program, which collaborates with major American companies to test and showcase cutting-edge technologies from domestic startups, facilitating their entry into international markets. These programs aim to propel startups onto the global stage by offering comprehensive support, including IR consulting, data production, and investment attraction sessions in the US and Southeast Asia.
Gangnam Global Roadshow: A Unique Acceleration Program
The 2024 Gangnam Global Roadshow, organized in partnership with beSUCCESS Media Group and the Korea Venture Business Association (KOVA), selected 12 innovative Korean startups to receive mentorship from leading investors in the USA and Singapore. This acceleration program, running from June 26 to August 7, 2024, offers weekly one-on-one online sessions with global mentors, designed to refine the startups’ pitching and presentation skills. The startups present their pitches within a restricted time frame, receiving feedback on significant aspects under marketability, innovation, and scalability.
USA Mentorship: Insights from Sunny Midha
The USA mentorship sessions, held on June 26, July 3, July 10, and July 17, were led by Sunny Midha, a renowned growth investor, media & tech M&A advisor, and principal investor at Principia Growth. With extensive experience mentoring Korean startups, Midha provided valuable insights into the US startup ecosystem, global market trends, and the growth investment landscape. He emphasized the importance of understanding regional market trends and demonstrating unique competitive advantages.
Nine Korean startups were chosen for the USA mentorship sessions:
- BANF: A logistics-mobility startup that enhances trucking safety and fuel efficiency with real-time tire profile technology.
- Impact AI: A B2B AI-driven SaaS tool, OASIS, optimizing ad spend through data-backed media mix recommendations.
- Arbaim: A product-centric social platform enabling user-generated content and rewards for product reviews.
- The StemBank: A beautytech startup offering stem cell-based cosmetic raw materials and cell processing services.
- xCREW: A global tour and activity platform enhancing user experience.
- Bilix: Developer of Brixelle®, a PEGylated bilirubin platform technology for oxidative stress protection.
- Sweetndata: AI-driven human digital twin solutions transforming the entertainment industry.
- INOFriends: A fintech startup providing advanced URCODE technology for asset management and protection.
- Contactus: Transforming property management with AI and AIoT solutions under the brand Doongji.
Sunny Midha: Mentorship Approach and Impact
Sunny Midha is a distinguished growth investor and media & tech M&A advisor, renowned for his strategic insights and mentorship in the global startup ecosystem. As the principal investor at Principia Growth, Midha has carved out a reputation for driving successful investment strategies and fostering the growth of innovative startups.
With extensive experience in growth investing and media and tech mergers and acquisitions (M&A), Sunny Midha brings a wealth of knowledge to the table. His career spans several high-profile investment and advisory roles, where he has demonstrated a keen understanding of market dynamics and growth opportunities. Midha’s expertise in identifying and nurturing high-potential startups has made him a sought-after mentor and advisor.
Reflecting on the sessions, Midha noted, “Korean startups have immense potential, and with the right guidance, they can successfully navigate the complexities of the global market. My goal is to help them articulate their value propositions clearly and effectively.”
In his role as a mentor for the Gangnam Global Roadshow, Midha provided invaluable guidance to the nine Korean startups seeking to expand into the US market. His mentorship sessions, conducted on June 26, July 3, July 10, and July 17, 2024, focused on refining the startups’ pitches and presentations to appeal to global investors.
Sunny Midha’s strategic insights and mentorship played a pivotal role in shaping the startups’ approaches to pitching and market expansion. His feedback encompassed various aspects:
- Strategic Insights: Emphasized understanding regional market trends and cultural nuances.
- Pitch Refinement: Advised on clarity, unique selling points, and effective communication.
- Market Trends and Differentiation: Encouraged highlighting unique advantages and addressing potential challenges.
- Practical Recommendations: Offered guidance on revenue generation, cost savings, and distribution strategies.
Sunny Midha’s mentorship has had a profound impact on the participating startups, equipping them with the tools and insights needed to navigate the complexities of the global market. His strategic advice and feedback have been instrumental in shaping the startups’ approaches to pitching, market expansion, and investment opportunities. As a seasoned growth investor and advisor, Midha continues to play a pivotal role in fostering the growth of innovative startups and driving global entrepreneurial success.
Future Prospects
The Gangnam Global Roadshow exemplifies Gangnam-gu’s commitment to nurturing innovation and supporting startups in their global endeavors. By connecting Korean startups with international mentors and investors, the district is paving the way for these companies to thrive on the world stage. As the 2024 edition progresses, participating startups are poised to refine their strategies, attract investment, and expand their global footprint, reinforcing Gangnam-gu’s reputation as a hub of innovation and entrepreneurship.
With the invaluable insights and mentoring sessions, the nine startups are poised to face offline pitching sessions in the USA in October. The nine startups will also be participating in beSUCCESS Media Group’s publication KoreaTechDesk’s Virtual Demo Day on August 14, where they will get opportunity to network and pitch for funding to prominent investors and VCs from the USA and Singapore. Please follow this space for more information.
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