The September edition of KoreaTechDesk’s Virtual Demo Day series brought together top investors and Korean startups for a dynamic session focused on global expansion. Malaysian investors Eugene Khaw, Vice President at Vynn Capital, and Frank Kang, Associate Partner at Antler Malaysia, provided invaluable mentorship to four enterprising startups, sharing insights on market entry strategies, investment opportunities, and scaling challenges in the Southeast Asia market.

Eugene Khaw: An Expert in Southeast Asian Expansion

As the featured mentor, brought over 10 years of investment and advisory experience to the session. Since joining Vynn Capital in early 2024, he has specialized in deal sourcing, capital raising, and structuring transactions for early-stage tech startups across Southeast Asia.

His deep expertise in sectors like supply chain, logistics, mobility, and FMCG made him an ideal mentor for Korean startups looking to expand beyond domestic borders. During the session, Eugene provided actionable advice on how to navigate the complexities of Southeast Asian markets, from securing capital to scaling operations.

Frank Kang: Serial Entrepreneur with a Focus on Malaysia

Frank Kang, a seasoned entrepreneur and Associate Partner at Antler Malaysia, co-led the mentoring session, bringing 17 years of startup experience to the table. Having founded several successful companies, including one of the largest Twitter directories in Korea and the popular e-commerce platform Althea in Malaysia, Frank is no stranger to the challenges of scaling a business. He shared insights on the Malaysian market, emphasizing the importance of adaptability and local partnerships in Southeast Asia’s diverse business landscape.

Spotlight on the Four Startups

The four Korean startups that presented during the Demo Day demonstrated innovative solutions spanning various industries—from AI to robotics, marketplace platforms, to health tech. Here’s a closer look at the participating startups:

KoreaTaskBuddy

CEO: Balint Eniko; COO: Tracy Cheng

Pitch: KoreaTaskBuddy is a marketplace that connects global shoppers with local assistants in Korea, offering a personalized service for hard-to-find Korean products like K-pop merchandise and K-beauty items. With over 225 million global Hallyu fans, the platform aims to solve the problem of international access to exclusive Korean goods.

Feedback: Investors encouraged Enika to focus on scalability, particularly in light of the competition and the platform’s reliance on a 10% commission fee. Clarifying the team’s strengths and offering a more realistic assessment of the market’s potential were suggested as improvements.

Topundred Inc.

CEO/Co-Founder: Geonu Bae; Co-founder/Sustainability Advisor: Astrid Raharjdo

Pitch: Topundred’s innovative mobile app, Jelly Walk, aims to promote walking in urban areas like Jakarta by rewarding pedestrians with discounts, cash, and vouchers. The app, backed by the South Korean government, seeks to encourage healthier lifestyles and contribute to improving city infrastructure. The company is seeking $200,000 in funding for app development and expansion.

Feedback: Investors were impressed by the app’s potential to influence urban mobility but advised Geon to focus on Indonesia’s infrastructure challenges and refine the monetization model through partnerships and in-app purchases.

MF Construction & Robotics

Founder: Egor Shubhin

Pitch: Egor introduced the Graffiti Drone, a prototype designed to automate painting tasks on construction sites, improving both safety and efficiency. The drone uses smart navigation and continuous power to tackle hazardous jobs such as painting high-rise buildings. Egor is seeking investment to finalize the product and begin testing in the $133 million automated painting market.

Feedback: Investors appreciated the product’s potential to disrupt the construction industry but recommended that Egor focus on refining the business model to attract large-scale adoption.

Mednaath

CEO/Founder: Nitish Kumar

Pitch: Mednaath develops AI models that replicate human capabilities like speaking and listening to automate customer service, recruitment, and sales. The company’s AI system can interact in 125 languages and is already partnered with major corporations like Skyscanner and Vonage. Nitish is seeking further partnerships to expand Mednaath’s reach across Southeast Asia and beyond.

Feedback: Investors were excited by Mednaath’s AI system’s scalability and multilingual capabilities. Suggestions were made to differentiate the company from competitors, particularly in addressing concerns about AI reliability and accuracy.

Key Takeaways and Market Potential

Both Eugene Khaw and Frank Kang emphasized the need for startups to be agile and adaptable when entering the Southeast Asian market. They highlighted the importance of local partnerships and understanding the cultural nuances that can make or break a business venture in the region.

For the participating startups, the session provided not only mentorship but also valuable networking opportunities with investors who can facilitate their international expansion. With Southeast Asia’s rapidly growing economy and increasing interest in tech-driven solutions, Korean startups have the potential to thrive in the region—provided they can navigate its unique challenges.

The Demo Day concluded with positive feedback from both startups and investors, setting the stage for future collaborations and investment opportunities as these Korean startups continue to innovate and grow.

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