The ‘NextRise 2024‘ exhibition, hosted by the Korea International Trade Association (KITA) and KDB Korea Development Bank, concluded successfully on June 14 at COEX, Seoul. Celebrating its 6th anniversary, this year’s event was the largest ever, gathering stakeholders from the global startup ecosystem, including companies, investors, and support organizations.
The two-day event saw participation from approximately 1,500 domestic and international startups and 250 global large and medium-sized companies, investment firms, and support organizations from 26 countries. The exhibition attracted about 25,000 visitors, reflecting its growing significance in the startup ecosystem.
International Business Networking
The opening ceremony on June 13 was attended by prominent figures such as South Korea Prime Minister Han Deok-soo, Minister of Trade, Industry and Energy Jeong In-kyo, and Financial Services Commission Vice Chairman Kim So-young. Executives from global giants like LVMH and representatives of various startups were also present, underscoring the event’s high profile.
NextRise 2024 hosted Asia’s largest one-on-one business meetup, facilitating around 3,600 meetings between 220 large global companies, investment firms, and 1,200 startups. This strategic matchmaking aimed to attract investment and foster business cooperation. Participation from companies like LVMH, BMW, and SONY increased by 60% from the previous year, signaling heightened global interest in Korean startups.
This year, Japan was the guest country, with various programs designed to strengthen bilateral cooperation. The Japan Innovation Center, comprising JETRO and 10 Japanese startups, hosted an IR demo day and forum. The Korea-Japan Open Innovation Summit further explored ways to expand cooperation between the Korean and Japanese startup ecosystems.
Conferences and NextRise Awards
The exhibition featured conferences on global startup trends such as AI and mobility. Ilya Strevulaev, a distinguished professor at Stanford University, emphasized the importance of long-term investment management in his keynote speech. Sessions with companies like BMW, Renault, Volvo, and Hyundai Motor Company provided insights into future cooperation and investment strategies in the mobility sector.
A total of 603 companies applied for the ‘2nd NextRise Awards’, which support the growth and overseas expansion of promising startups. Welt, a digital treatment device developer, and Dipping Source, an AI photo and image recognition company, won the Top Innovator awards.
The event served as a platform for strengthening global partnerships. KITA signed a business agreement with AsiaBerlin and discussed cooperation with IFA CEO Lief Erik Lindner. Partner events with organizations from France, the USA, and Taiwan further enhanced global networks.
KITA Vice President Lee In-ho emphasized, “NextRise 2024, held on the largest scale ever, is a hub for startups driving innovative technology and change. The trade association will continue to expand overseas channels for startup technologies and products, which are new growth engines for our trade.”
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