Fifty Korean startups chosen for the KOSME K-Unicorn Academy organized by Korea SMEs & Startups Agency (KOSME), are engaging in valuable online mentorship sessions led by international venture capitalists and investment experts. On July 27, August 3 and August 10, the startup founders delved into Singapore-focused sessions guided by Eugene Noh, Deputy Director of NUS Enterprise, and Cindy Teoh, Investor at Micdrop Capital
.The Korea SMEs & Startups Agency (KOSME), in collaboration with beSUCCESS Media Group, has launched its highly anticipated KOSME K-Unicorn Academy Program. This program aims to support young entrepreneurs in Korea by providing them with the necessary resources and opportunities to expand their ventures on a global scale.
Eugene Noh led the first session guiding the startup the IR Deck preparing. In the second session, Eugene and Cindy took questions from startup founders and provided feedback about their IR Decks and business plans. The startup founders presented their business ventures and sought advice on various aspects of their business models, market strategies, and potential challenges in expanding their ventures. The mentors emphasized the importance of clear communication, storytelling, and addressing the investors’ perspective to show potential for high profitability. Overall, the mentors provided valuable insights and feedback to help the presenters refine their pitches and business strategies.
On August 3rd, Jie Lun Ong, Senior Director and APAC Plug and Play Tech Center delivered a presentation on his VC firm. He subsequently provided valuable mentorship to participants, covering VC funding, the fundraising process, and investment terms. During the second session, participants engaged in one-on-one interactions with Jie Lun Ong and Eugene Noh, where group of 5 startup founders got to interact with each mentor. They presented their Investor Relations (IR) Decks and received constructive feedback from these experienced mentors
On August 10, Andrew Kim, CEO & Founder of Fynd, recruiting & talent management platform for startups and companies, talked to the participants about his company and the recruitment processes for startups and the importance of talent acquisition. In the next session, Jean Yeow, Associate Director from Golden Equator Ventures, gave insights on IR Deck pitches by startup founders as they met for one-on-one sessions.
KOSME (Korea SMEs & Startups Agency) plays a pivotal role in fostering the growth and development of small and medium-sized enterprises (SMEs) in Korea. KOSME develops human resources by providing young entrepreneurs an opportunity to start a business and SME employees with high-quality training. Through its comprehensive range of financial and non-financial programs, KOSME aims to support SMEs in expanding their operations, diversifying their product offerings, and enhancing their global competitiveness.
The KOSME K-Unicorn Academy Program orientation and pre-acceleration phase was on July 18, where the young participants were introduced to the program and mentored by business experts. KOSME’s program will continue till August 11, 2023, with new sessions with experts in the industry each week.
This program received applications from 140 companies, all of which participated in the Youth Entrepreneurship Officer School program. Through a process of document screening and online interviews, 50 companies were selected in the initial round. These selected entrepreneurs, all under the age of 40, hail from a diverse range of early-stage companies, spanning sectors such as ICT, healthcare, SaaS, manufacturing, and beyond.
Also Read,
- KOSME’s 2023 Youth Startup Academy Global Expansion Program: US Mentors Guide Startups for Effective Pitching
- Gyeongsangnam-do: Fostering Super-Gap Startups & Establishing 1 Trillion Won (747 million USD) Investment Fund
- Korean Ministry Hosts’ Tourism Global Challenge Alumni Day’ To Foster Tourism Startups
- South Korean Government To Launch 1 Trillion Won Public-Private Joint Fund to Boost Startups
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