SEOUL, SOUTH KOREA, July 31, 2020 – The Seoul Metropolitan Government announced that it will run a virtual exhibition booth for Seoul startups during “ConnectTech Asia” that will be held on a virtual platform for three days from September 29 to October 1. It is Asia’s largest annual information and communications technologies (ICT) exhibition held every June in Singapore since 1989. This year’s event is shifted to a virtual event in response to the situation of the COVID-19 pandemic.
※ Previously the event was held under the name of ” CommunicAsia.” This year, it changes its name into “ConnecTech Asia,” with combining ICT, broadcasting, and satellite communication sessions.
Through the virtual exhibition booth, Seoul will showcase the city’s 20 startups with innovative technologies to the world and provide all-round support for them to attract investment and advance into Southeast Asia.
This is the first of its kind to have a separate session for startups at ConnectTech Asia. The scale of the event is further expanded by providing opportunities for startups to introduce their sophisticated technologies and products to global investors and to have online consultations with possible investors.
In addition to the promotion and support for startups at the online booth, the Seoul Metropolitan Government will operate (temporary named) “Invest Seoul Booth” to showcase the business environment of Seoul and Korea, which have been drawing attention in the face of the coronavirus crisis, and introduce the city’s investment attraction policy.
Seoul expects that “ConnectTech Asia” will serve as a venue for start-ups to adapt to the post-COVID-19 business environment and establish a global network to share mutual information and take the lead in rapidly changing technology trends.
20 ICT startups based in Seoul to be invited from July 31 to August 13
The Seoul Metropolitan Government invites 20 startups to be promoted at Seoul’s virtual exhibition booth during ConnecTech Asia. Any ICT startups doing business in Seoul are qualified for the application. The application should be made from 12 a.m. July 31 to 6 p.m. August 13 at the Invest Seoul Website at www.investseoul.org.
Especially, five startups under three years old will be separately selected to accept opinions from the field that startups in the early stages are less competitive than other companies in terms of technology and business scope.
A total of 20 startups will be selected through the evaluation of application documents and interviews. The Seoul Metropolitan Government will intensively support the selected startups before and after “ConnecTech Asia” so that they successfully attract investment.
Before the exhibition, Seoul will provide the startups with various support services, such as customized one-on-one investment attraction consulting, English IR pitching training, pitching video filming, and document writing. During the exhibition, the city government will help them have real-time investment meetings with global investors and make needed responses. After the exhibition, through the Invest Seoul Center, one-on-one online counseling, and on-site inspections between the startups and investors interested will be supported.
Mr. Kim Eui-seung, Deputy Mayor for Economic Policy, said, “Seoul is providing various support to startups that are most vulnerable in these difficult days because of the COVID-19 outbreak.” “We will support startups so that they can have opportunities to meet with global investors in a non-face-to-face way for their advancement into the world market.”