What Does 'New Business' Mean to Startups? ... Heated Debate at ComeUp 2021

Startup Festival 'ComeUp 2021' Day 2
Market Outlook for Food, Health, and Environment Industries
Introduction to Global Business Matching and Open Innovation

[Asia Economy Reporter Kim Bo-kyung] On the second day of 'ComeUp 2021,' the largest startup festival in Korea, topics such as the digital healthcare industry and hydrogen energy were discussed. Large corporations supporting and nurturing startups, including Samsung and Naver, also introduced their directions for promoting open innovation.

The ComeUp 2021 Organizing Committee and the Korea Institute of Startup & Entrepreneurship Development are holding the ComeUp 2021 event from the 17th to the 19th at Dongdaemun DDP in Seoul. ComeUp was restructured into an international event starting in 2019 to promote the previously domestically focused 'Venture Startup Expo' worldwide. It is jointly hosted by the government (Ministry of SMEs and Startups, Korea Institute of Startup & Entrepreneurship Development) and the private organizing committee. This year, it presented ways for startups to anticipate market environment changes and prepare for the future after COVID-19.

On the 18th, under the theme of 'Sustainability,' conferences on four sectors?food, environment, health, and space business?were held, along with pitching sessions by 12 ComeUp Stars companies and presentations on open innovation projects by large corporations. A special event, 'Global Startup Day,' featuring business matching with domestic and international investors, was also held.

Yang Jae-sik, CEO of The Planit, who spoke on the topic 'Challenges of the Food Industry for a Sustainable Future,' said, "As value consumption among the MZ generation spreads, the alternative meat market is emerging."

He added, "For the development of the food industry, it is important for consumers using new products to provide feedback to startups, and for startups to develop products that enable consumers to choose more rationally and sustainably, emphasizing the interaction between consumers and startups."

Park Young-min, CEO of Lockya, stated, "Recently, due to the climate crisis, agriculture, which is directly linked to human diets, is being impacted," and emphasized, "A balanced perspective from entrepreneurs and farmers regarding sustainability, changes in large corporations' awareness, and the formation of consumer consensus are important."

Ui Eui-seok, CEO of SenacleSoft, who spoke on the theme 'Connection: The Journey Toward a Digital Healthcare Platform,' explained, "Creating a platform where individuals can check their own health ultimately means creating a gateway that connects medical and healthcare professionals with the general public." He added, "For this, it is very important to connect healthcare demand entities such as patient-doctor, patient-patient, and doctor-doctor."

Choi Doo-ah, CEO of Hure Positive, said, "Insurance companies are considering transforming into new industries through integration with digital healthcare," and argued, "It is important to create conditions that allow new attempts in the digital healthcare market."

Kim Seo-young, CEO of Hyrium Industry, who attended the conference titled 'Will the Battery Transition Happen?' said, "With growing interest in the environment, electricity and hydrogen, which can replace traditional mobility energies like gasoline and diesel, are emerging." He added, "To activate hydrogen energy, improving public awareness is essential, and companies must develop products that the public can feel are safe."

Kim Jung-bin, CEO of Superbin, participated in the topic 'Circular Economy, the New Order of the Coming Era.' Kim stated, "The waste disposal system must be improved into a circular economy system," and emphasized, "Along with government infrastructure development and creating an environment where the private sector can introduce businesses, laws and systems must be established to bring consumers into the circular economy framework."

Additionally, on this day, six global companies including Samsung Electronics, Naver, Signite Partners, PlanH Ventures, Mercedes-Benz Korea, and Daewoong Pharmaceutical participated in the open innovation corner. Each company introduced their directions and detailed strategies for collaboration with startups. Global Startup Day was also organized to embrace overseas startups and provide a platform for exchange between domestic and international startup ecosystem stakeholders.

Meanwhile, ComeUp can be participated in real-time online through its official website and YouTube channel.

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