South Korea’s prominent startup conference, NextRise 2023, is set to take place in June on the largest scale ever, with the participation of about 200 global large and medium-sized companies and venture capital companies. One of the most significant events in the Korean startup ecosystem, NextRise 2023, will be held at COEX in Samseong-dong, Seoul, for two days on June 1 and 2. The program will also be live-streamed for online participants.
Corporate giants, global companies & New tech industries
NextRise is an annual event hosted by Korea Development Bank and the Korea International Trade Association. More than 150 multinational corporates and VCs from around the world are joining NextRise 2023, Seoul, including 80 large and medium-sized Korean companies like Hyundai Motor Company, LG Electronics, SKT, and POSCO, and 80 venture capital companies such as Korea Investment Partners, LB Investment, and KB Investment will also participate.
This year’s event is particularly noteworthy as it celebrates its fifth anniversary. The participation of 40 foreign global conglomerates, including Microsoft, Intel, and Ford, highlights the increased demand for collaboration with domestic startups by multinational companies. Additionally, many Japanese IT SMEs will participate in discussing collaboration with Korean startups, indicating the growing importance of international cooperation for startups.
The two-day event will feature keynote speeches by prominent industry leaders, panel discussions on the latest trends and innovations in various industries, meet-ups between startups, established businesses, and investors, and an exhibition showcasing the latest technologies and products from participating companies. The Next Rise Innovation Awards will also be a crucial part of the conference, encouraging startups to develop innovative technologies and business models. Overall, the event promises to be an excellent platform for promoting the growth and success of startups in Korea and beyond.
The key industries at NextRise 2023 will be the rising technologies such as AI & Big Data, future mobility, aerospace, advanced manufacturing, semiconductor, rechargeable battery, robotics, bio & healthcare, sustainability – green & renewable energy, and ESG.
NextRise aims to expand cooperation opportunities between domestic and foreign large and medium-sized companies and startups through meet-ups. Award-winning companies will get to introduce their companies during the NextRise event and avail of benefits such as preferential participation in overseas expansion support programs hosted by the Korea International Trade Association are granted.
“Despite the sluggish exports due to the recent global economic downturn, we plan to expand further our support for the growth and overseas expansion of our startups with innovative technologies to spread the foundation for future exports,” said Man-ki Chung, Vice Chairman of the Korea International Trade Association. “Through NextRise, which has grown into a business exhibition, we will support domestic startups by incorporating them into global supply chains.”
Sponsors, Speakers & History
The NextRise Conference was first held in 2019 to create a platform for startups, investors, and established businesses to collaborate and share ideas with the Korea International Trade Association (KITA) Korea Development Bank (KDB). KITA is a non-profit, private organization established in 1946 to promote Korean businesses’ international trade and investment activities. KITA is involved in various trade-related activities, including research, training, and consulting services, to support the growth of Korean businesses.
KDB, on the other hand, is a government-owned financial institution established in 1954 to support the development of critical industries in Korea. KDB provides financing and investment services to companies in various sectors, including energy, infrastructure, and information technology.
The success of the previous conferences has attracted the participation of many global companies and venture capital firms. In 2022, more than 310 startups had a booth, and a record number of startups participated, as well as domestic and foreign conglomerates such as Hyundai Motor, LG, and Amazon Web Services (AWS), as well as unicorn companies such as Zigbang and Ridi, as well as members of various venture ecosystems, participated. In 2021, the event attracted around 12,000 visitors from around the world despite the coronavirus pandemic.
Korean Prime Minister Han Deok-soo visited the event in 2022 to encourage startups. President of the Korea Trade Association Koo Ja-yeol, Korea Development Bank Chairman Kang Seok-hoon, and Minister of SMEs and Startups Lee Young visited the venue to have interactions with the startups. In the past many prominent people have participated in NextRise as keynote speakers, including Bill McDermott, CEO of ServiceNow; Young Sohn, President and Chief Strategy Officer of Samsung Electronics; Ken Hu, Deputy Chairman and Rotating CEO of Huawei Technologies Co., Ltd, Philipp Gneiting, Open innovation director of Daimer(Mercedes Benz), James Monnat, CEO of Foundry Europe, Anne Lidgard Director of Sweden Innovation Agency “Vinovva,” Organ Gurel, CTO at the Eidare / Venture Partner at the Yozma Group, etc.
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