South Korean Start Ups Target Japanese Markets
D-Bo , Aug. 18, 2015, 8:24 a.m.
In partnership with Japanese investment companies, domestic startup businesses are hoping to target the Japanese market. KOTRA, the Korea Trade Promotion Corporation, signed an agreement with startup businesses and Japanese venture capital firms (VCs) as part of its ‘Startup Growth’ initiative.
‘Startup Growth’ is a program that connects overseas global businesses with domestic startup companies so that they can successfully launch their business abroad. The program has been in operation since 2012.
At the signing, Global Brain, a famous Japanese VC firm, and cyber agent Ventures Korea agreed to become mentors to 11 domestic businesses including Lineable. Over thew next two months, the VCs will provide mentees with information and strategies on business models and marketing that suit the Japanese market.
In addition, Tohmatsu Venture Support, an affiliate of the Japanese accounting firm Deloitte Tohmatsu, will educate the mentees on how to open an effective investment briefing in Japan.
KOTRA is also planning a conference in Tokyo to be held in October, in a bid to attract more investment for Korean startups.
KOTRA sees great potential in the program. “Japan, along with China, is a very strategic market where our startup businesses could make inroads. Now is the time when we should expand support to businesses expanding to Asian territories instead of the Americas and Europe.”