World Bank Requests Korean Startups to Enter Emerging Markets

Recruitment of Participants for Bio Health Care Program (TechEmerge Challenge-East Africa)

[Asia Economy Reporter Kim Cheol-hyun] The Korea Institute of Startup & Entrepreneurship Development (President Kim Kwang-hyun, Kised) announced on the 12th that the World Bank has requested interest and participation from Korean startups in the 'TechEmerge Challenge-East Africa' program, which supports bio and healthcare startups.

Accepting applications until the 25th, this program aims to solve social issues such as health and medical care in East African regions including Uganda, Kenya, and Ethiopia by matching startups with global companies in the healthcare sector to support technology commercialization. Domestic SMEs and startups producing solutions or products applicable to healthcare or health and medical fields and wishing to enter emerging markets such as East Africa are eligible to participate.

Selected companies can receive guidance for entering East Africa using the World Bank's network as well as funding support for project execution. Additionally, they will have opportunities to attract investment and enter new markets by leveraging the World Bank's network of over 2,000 companies across more than 100 countries.

Kim Kwang-hyun, President of the Korea Institute of Startup & Entrepreneurship Development, said, "This collaboration signifies that Korean startups are being recognized globally," adding, "This cooperation will activate domestic startups' entry into emerging countries, and we plan to expand support not only in bio and health but also in AI, big data, and mobility sectors in collaboration with various institutions in the future."

This content was produced with the assistance of AI translation services.