Startup Supported by KOTRA Achieves $60 Million in Exports Last Year

Confirmed: $1 Million Investment Attraction, 10 Global Startups, and 366 New Jobs

[Asia Economy Reporter Kim Heung-soon] KOTRA announced on the 25th that through 20 startup hub overseas trade offices, it supported domestic startups and achieved results such as $6 million in exports, $1 million in investment attraction, 10 global startups, and 366 new jobs last year.

According to KOTRA, Company A, which developed a smart cat waste disposal device, participated in the world's largest IT and home appliance exhibition 'CES 2020' last year and held consultations with the largest robot distribution company in North America. Through KOTRA's 'Global Jump 300' program, the company received close consulting from the Los Angeles trade office in the U.S. and signed its first export contract worth $2 million with a buyer. Currently, it is expanding its export markets not only to the U.S. but also to the Netherlands, Japan, and others.

Company B, a developer of a travel video sharing app, also met with a U.S. venture capital firm through KOTRA's New York trade office and attracted $850,000 in investment. Starting as a global travel activity reservation platform, this company has been providing a service sharing 18-second short travel experience videos in response to a decrease in users due to the COVID-19 pandemic, receiving positive responses in the market.

In addition, Company C established a local corporation in May last year with support from KOTRA's Vienna trade office to enter the Austrian market, where demand for industrial augmented reality (AR) technology is high. This startup develops monitoring and remote collaboration solutions using AR technology and is promoting AR-related technology research and development by utilizing local personnel.

This year, KOTRA plans to implement ▲ an 'education program' to strengthen the overseas expansion capabilities of early-stage startups ▲ the 'Amazon Rocket Start Project' supporting startups' online exports ▲ support for entry into crowdfunding platforms in the U.S., Japan, and Taiwan △ and the annual customized support project 'Global Jump 300 Program.'

Kwon Pyung-oh, President of KOTRA, said, "We are providing seamless customized support according to the growth stages of startups," and added, "We will continue to play a pivotal role in the successful global market entry of our startups with innovative technologies and products."

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