Genova Asia, K-Startup Development Achievements... "Accelerating Global Territory Expansion"

[Asia Economy Reporter Donghyun Choi] Ginova Asia announced on the 26th that the results of fostering promising domestic startups, promoted with the support of Gyeonggi Province and the Economic Science Promotion Agency, are becoming visible.

Since 2020, Ginova Asia has been striving to create a domestic startup ecosystem through the 'Global Acceleration Program' organized by Gyeonggi Province and the Economic Science Promotion Agency. Every year, it selects startups with promising technologies through its own screening and provides intensive support by utilizing global networks and know-how.

Startups participating in the '2022 Ginova Global Acceleration Program in Pangyo' are receiving comprehensive support and are steadily succeeding in entering overseas markets. This is a tangible achievement despite the increasing global economic instability due to recent inflation and high interest rates.

Participating companies ▲Ubislab ▲YJS (Erizeron) ▲Davida (formerly Ginie Robot) ▲Medibel Bio ▲Real Design Tech ▲Datechnique have taken their first steps into overseas markets through this program.

Ubislab, a developer of the wearable GPS for soccer analysis 'SOCCERBEE,' and YJS (Erizeron), an eco-friendly solid shampoo company, have been recognized for their product competitiveness. Both companies have succeeded in entering Amazon, the largest e-commerce platform in the United States, and are selling their products. YJS has also entered Amazon Australia.

The potential for further overseas market expansion is also increasing. Ubislab is preparing to enter the UK, Brazil, and Japan. YJS, having recently been selected for the European Amazon startup support program Launchpad, plans to accelerate its entry into the European market.

Edutech company Davida signed an exclusive supply memorandum of understanding (MOU) worth 1 million USD (approximately 1.4 billion KRW) in March with Ecuadorian publishing and education company 'EDINUN.' In April, it also agreed on exclusive product supply with Bosnian IT company 'IT Odjel d.o.o,' covering five countries including Bosnia and Herzegovina.

Medibel Bio and Real Design Tech are targeting the Japanese market. Medibel Bio has signed an export contract with Japan and started selling its self-developed multispectral imaging healthcare device 'WAV?'. Real Design Tech, which developed the indoor bicycle 'Ultracer,' recently held an exhibition and experience promotion at the 'Ario Washinomiya' shopping mall in Kuki City, Saitama Prefecture, Japan.

Datechnique developed a smart two-wheeler helmet integrated with AR (augmented reality). It recently obtained design patents in several Southeast Asian countries. The strategy is to focus on the Southeast Asian market, where motorcycle demand is high.

A Ginova Asia official said, "Since overseas markets vary greatly in service and product demand due to differences in national environments, cultures, and public tendencies, if each startup enters overseas markets that suit their characteristics, it will be easier to settle and target the local market," adding, "We will continue to discover and nurture domestic startups with innovative technologies and contribute to creating the era of K-startups."

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