
In conjunction with the BUSAN Slush'D conference, the Digital Districts team signed an MoU with the Korea Startup Forum to support the entry of Korean startups into Southeast Asia and vice versa.
Busan is steadily emerging as a tech startup hub in South Korea, driven by a combination of government support, strategic initiatives, and a growing entrepreneurial spirit. The key factors contributing to Busan's tech ecosystem include:
Government Initiatives: The Ministry of SMEs and Startups (MSS) has selected Busan as one of two locations for establishing the Korean version of Station F, a global startup hub. This initiative aims to nurture deep tech startups and attract global tech companies and investors to the region.
Strategic Location: Busan's North Port area has been chosen for the startup hub due to its well-equipped infrastructure, transportation accessibility, and potential for growth. The city's focus on strategic regional industries, such as digital finance and smart oceans, further enhances its appeal to tech startups.
Support Infrastructure: Busan boasts a growing network of startup support organizations, including the Busan Center for Creative Economy and Innovation, Busan Economic Promotion Agency, and Busan Techno Park. These organizations provide resources, mentorship, and networking opportunities to startups.
Talent Pool: Busan is home to several universities, fostering a growing pool of young talent. The city's efforts to attract and retain skilled professionals are crucial for the development of its tech ecosystem.
Investment: The Busan Future Growth Venture Capital Fund, with a capital of KRW 101.1 billion, is dedicated to investing in local startups. This financial support is essential for driving innovation and growth in the tech sector.
At Digital Districts, we will strengthen our collaboration with the Korea Startup Forum to provide the bridge for Korean startups to connect with ASEAN tech ecosystems.
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