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  • Seoul Metropolitan Government act as an agent to secure investment for Korean Startups in New York, USA

  • Press Releases SMG 1947

    – 6th (Tues) <local time> ‘Seoul Demo Day in New York’ with participation of 10 Bio & Fintech etc., enterprises
    – Seoul Metropolitan Government utilizes its global network for enterprises to expand overseas, secure investment and strengthen reliability
    – World renowned investment firms attended such as Goldman Sachs, 500 startups, ERA etc., with positive sentiment of investment
    – Mayor Park Won Soon meets CEO of Sidewalk Labs created by Google, to discuss cooperation on smart cities

    □ Mayor Park Won Soon is accompanied by 10 Korean startups in his visit to USA. On 6th (Tues), Seoul Metropolitan Government assisted in attracting investment in New York for these startups with participation of 30 renowned investment firms.

    □ Seoul Metropolitan Government utilizes its global network for enterprises and strengthens reliability for Korean startups in New York.

    □ On 6th (Tues) 13:30 <local time>, at New York Lotte Tower Palace Hotel over 30 enterprises such as venture capitals, fund management firms, business accelerator firms were invited to ‘Seoul Demo day in New York’.

    □ In this event, global investment firm, Goldman Sachs, the largest Silicon Valley startup investment fund, ‘500 Startups’ and renowned New York based business accelerator firm, ‘ERA (Entrepreneurs Roundtable Accelerator) etc., attended and set a positive sentiment of investment possibilities.

    * Participating enterprises (10) : <Fintech>▲Quarterbacks Investment ▲ YAP ▲ Jayoung Tech Co., LTD ▲Newsy Stock ▲ Sentbe <Bio> ▲Vuno Korea ▲DnP Biotech ▲ Bio sensor laboratories <Fashion>▲Mag & Logan

    □ Participating 10 startups are Seoul based enterprises aiming for investment ▲Fintech 5 ▲ Bio 3 ▲ICT 1 ▲Fashion 1

    □ The 10 startups had individual presentations and meetings with potential investors in the 4 hour duration.

    □ Seoul Metropolitan Government announced the objective of the event as an opportunity to better the ecosystem of startups with potential, by assisting to secure foreign investment to venture out overseas for this growth.

    □ Mayor Park Won Soon who is on an official visit to North America also participated in ‘Seoul Demo Day’ and made an opening speech and met the 10 participating enterprises.

    □ In the mayor’s opening speech he said, “Seoul is a city with the highest usage of smart phones and fast internet, highest R&D investment rate against GDP and fine talent educated from 65 universities making it one of the best cities to start businesses in.” He hopes that, “Seoul Demo Day not only provides opportunities for Korean startups to expand in America but also provides opportunity to Americans looking for business opportunities in Asia.”

    □ At 15:30 <local time>, Mayor Park Won Soon met with Daniel L. Doctoroff, CEO of ‘Sidewalk Labs’, a company that Google set up to build a better future city and discussed on Seoul’s focus of Smart city and how a collaboration could be possible.
    ○ Sidewalk Labs has a project called ‘LinkNYC’ creating a kiosk to use public phone booths for free WiFi and also to charge mobile phones.
    ○ Seoul has taken ‘LinkNYC’ as a model and turned public phone booths as a place to take shelter from crime, for free WiFi and also use as ATM.

    □ Seoul is a president city for WeGo and since 2003 Seoul has taken first place in world’s e-government survey for 6 consecutive years making Seoul a digital global leader. The aim is to strengthen the ties with global digital leading enterprises such as Sidewalk labs.