'ComeUp Stars' Spotlighted by 1,076 Startups from 89 Countries

Online Investor Briefing Participating Companies
120 Final Companies Selected Through Ministry of SMEs and Startups and Organizing Committee Review
'ComeUp 2020' Highlights from November 19 to 21 This Year

Source=Ministry of SMEs and Startups

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 13th that it has finalized the selection of 120 companies as 'ComeUp Stars,' the participating companies in the online investor relations (IR) sessions, which are the highlight of this year's 'ComeUp 2020' event.

This year's ComeUp online IR program will be broadly divided into the 'Rocket League' and the 'Rookie League.' The Rocket League selects outstanding startups presenting visions related to industries corresponding to 12 fields such as digital healthcare, manufacturing, and education. The Rookie League targets early-stage startups within three years of establishment and with cumulative investment under 500 million KRW.

The ComeUp 2020 event is scheduled to be held mainly online in a non-face-to-face format from November 19 to 21 at Dongdaemun Design Plaza in Seoul. After the Ministry of SMEs and Startups and the ComeUp Organizing Committee closed online applications for domestic and international innovative startups to participate in the online IR program at the ComeUp event, 1,076 startups from 89 countries worldwide applied. The final selection of 120 companies recorded a high competition rate of 9 to 1.

After the first document screening and the second public and expertise evaluation, the final 120 startups were selected through the resolution of the ComeUp Organizing Committee. Among them, 84 startups with expertise in 12 fields were selected for the Rocket League, and 36 early-stage startups with future growth potential were selected for the Rookie League.

In line with the spirit of a global startup festival, more overseas startups (61 companies, 50.8%) were selected than domestic ones (59 companies, 49.2%). Notably, among the startups that applied from abroad, 61 companies from 26 countries were selected, with Israel (8 companies) having the most, followed by the United States and Germany (7 companies each), and Singapore (6 companies).

The average business age is 3.4 years, with the largest group being early-stage startups between 1 and 3 years old, totaling 47 companies (39.2%). Growth-stage companies between 3 and 5 years old number 27 (22.5%). The average investment raised by the 120 newly selected ComeUp Stars this year is 5.83 billion KRW. Six startups succeeded in raising over 30 billion KRW in investment.

Domestically, 'StradVision,' a company specializing in object recognition software for autonomous driving that raised 50.6 billion KRW in investment, and 'Monolith,' a theme park platform company that secured 46.2 billion KRW in investment, were also selected as ComeUp Stars.

The Ministry of SMEs and Startups and the Organizing Committee will provide free production support for promotional videos for the ComeUp Stars. Online promotional booths will be offered on the ComeUp website and other platforms. Additionally, priority opportunities will be given to participate in online investment consultations and export consultations linked with domestic and international venture capitalists (VCs) and buyers. Real-time networking opportunities with senior startups and peer companies will also be arranged.

Kim Seul-ah, Co-Chairperson of ComeUp 2020, said, "We have high expectations for the ComeUp Stars who have become the representatives of ComeUp by overcoming fierce competition," adding, "We will do our best to help them grow into world-class innovative startups with expertise and future growth potential to lead the post-COVID-19 era through this ComeUp."

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