From Export Consultations to Startup Pitch Competitions... 'K-Global@Silicon Valley' Held Online

[Asia Economy Reporter Seolgina Jo] The Ministry of Science and ICT announced on the 30th that the ‘K-Global@Silicon Valley 2020’ event, which supports the export and investment attraction of domestic ICT companies to the United States, will be held from the 1st to the 4th of next month.

Since 2012, this event has been held annually in Silicon Valley, USA, but this year it will be conducted online due to the impact of the novel coronavirus disease (COVID-19). Interested businesspeople and investors can participate and watch for free on the website (http://k-global.ictcyberworld.com).

This year, the event is themed around the artificial intelligence (AI) industry and includes an ICT Innovation Forum, online exhibitions and export consultations, pitching competitions for domestic and international startups, and AI Q&A webinars.

The online exhibition during the event period features 30 small and medium-sized enterprises aiming to enter the U.S. market. The focus is on products and services related to AI, security, Internet of Things (IoT), and smart healthcare.

The online exhibition is linked with the Ministry of Science and ICT’s virtual exhibition platform, ‘ICT Cyber World,’ allowing visitors not only to view companies’ product and service introduction materials and promotional videos but also to leave inquiries or consultation requests and exchange contact information with interested companies, providing an immersive experience as if visiting a real exhibition hall, the ministry explained.

A total of 48 companies, including the 30 participating in the online exhibition, will also conduct one-on-one export video consultations with U.S. companies such as Facebook and Amazon. Korean-English interpretation will be provided for each company to facilitate smooth consultations.

On the first day of the event, the ICT Innovation Forum will feature keynote speeches by global companies in the cloud and security sectors, including Naver Cloud and NortonLifeLock’s CTO, sharing trends and prospects of AI cloud and security industries in the post-COVID-19 era. Following this, two panel discussions with experts in AI solutions and applications will be held.

The startup pitching competition held on the 2nd and 3rd will be conducted through two programs: ‘K-Pitch,’ a contest for 14 domestic startups seeking entry into the U.S. market and investment attraction, and ‘International Pitch,’ where 10 startup teams from 7 countries compete. Participating companies will present their business models and growth strategies to judges composed of U.S. venture capital investment reviewers. The pitching evaluation will be broadcast live via online connection from the U.S.

The first-place company in ‘K-Pitch’ will receive the Minister of Science and ICT Award along with a prize of 10 million won. The first and second place winners will be qualified to participate as Korean representatives in the international pitching competition, ‘International Pitch Competition,’ held the following day.

In ‘International Pitch,’ a total of 10 teams, including the first and second place companies from ‘K-Pitch’ and startups selected by the International Innovation Alliance (IIA), a multinational cooperative organization based in Silicon Valley, will compete in a friendly contest. The top three winners will receive prizes and networking support opportunities at KIC Silicon Valley.

The Q&A webinar held on the 4th will feature local AI experts from companies such as Google answering AI-related questions submitted in advance by the general public and students.

Jang Seok-young, the 2nd Vice Minister of the Ministry of Science and ICT, stated, “Now, as the domestic economy is expected to recover after overcoming the COVID-19 crisis, we must nurture the spark of economic rebound by opening export and investment opportunities for promising companies,” adding, “Through this event, we hope not only for our companies’ entry into the U.S. market but also for the expansion of business cooperation opportunities between Korea and the U.S.”

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