#South Korea #Seoul #COMEUP 2024 #startups

COMEUP 2024: The Premier Global Startup Event

The COMEUP 2024 festival, which is recognized as the largest global event dedicated to startups, officially opened its doors on December 11 at the COEX convention center in Seoul, South Korea. This momentous event is organized under the auspices of the Ministry of SMEs and Startups, led by Minister Youngju Oh. It marks a significant milestone in showcasing South Korea's growing influence in the global innovation ecosystem, attracting over 260 startups and participants from more than 40 countries.

The opening ceremony highlighted inspiring speeches from leading figures in the startup community, including Chan Yoon, CEO of EverEx Inc., and Sina Albanese, CEO of Koralo. EverEx has gained international acclaim for its digital rehabilitation solutions for musculoskeletal conditions and was honored with an innovation award at CES 2024. Koralo, known for offering plant-based seafood alternatives, established its headquarters in South Korea after winning the K-Startup Grand Challenge in 2022.

Minister Youngju Oh emphasized the vital role startups play in tackling global challenges through innovation. She outlined the strategic objectives of her ministry, which include positioning South Korea as one of the world’s top four venture capital hubs, fostering overseas expansion for startups, and attracting foreign entrepreneurs through supportive policy reforms.

The theme for this year’s event, “Innovation Beyond Borders,” spans from December 11 to 12 and features a diverse lineup of startups. More than half of the participating companies are from international backgrounds, demonstrating the event's commitment to global collaboration. National pavilions from the United Arab Emirates, India, Japan, and Sweden spotlight advancements in sectors such as AI, biotechnology, and health technologies.

Key activities include insightful conferences, exhibit showcases, and various investment events. A highlight is the “Future Talk” session, where international startup leaders, including Qamar Aftab of Wa'ed Ventures and Sunghyun Park from Rebellions Inc., discuss transnational innovation strategies. Furthermore, deep-tech firms have the opportunity to present cutting-edge technologies at the “Tech Talk 15” segment.

The event features a public pitch competition, “Startup Valley,” which showcases the finalists of the COMEUP Stars 2024. This segment also offers informal interaction with industry leaders, fostering an atmosphere of collaboration. Innovation showcases and reverse pitches are also aimed at enhancing the synergy between startups and larger corporations.

The “Global Community” panel enhances networking among startups while navigating market entry opportunities in regions like the UAE, India, and Africa. The “COMEUP X” initiative, backed by organizations including AWS and KISA, offers specialized support programs for emerging businesses.

International entrepreneurs, such as Carlos El-Kik Lloret, CEO of AiMA Beyond AI, who has benefited from South Korea’s Startup Korea Special Visa, are participating. His Spanish firm, focused on digital human solutions powered by AI, has thrived due to the country’s pro-innovation visa policies.

Real-time updates and detailed programs for the event can be accessed through the official COMEUP website and their YouTube channel. The festival not only boosts the startup environment in South Korea but also sets the stage for future innovations across the globe.