KOTRA Hosts Startup Investment Event with US Semiconductor Equipment Company 'Applied'
Conducting Wednesday Technology Briefing and Pitching Event
The Korea Trade-Investment Promotion Agency (KOTRA) will hold 'Astra Korea 2023' on the 6th at the Intercontinental COEX Hotel in Seoul in collaboration with Applied Ventures, the corporate venture capital (CVC) of the U.S. semiconductor equipment company Applied Materials.
This event aims to establish a cooperative foundation between global semiconductor equipment companies and domestic innovative startups to support performance verification, rapid commercialization, and market entry of startup technologies. About 120 participants, including around 70 domestic semiconductor and display sector innovative startups, domestic and international venture capital (VC) and CVC representatives including Applied Ventures, will discuss various investment cooperation opportunities.
Applied Ventures pre-selected eight domestic startups based on technology and product competitiveness and growth potential, conducting one-on-one detailed business and technical reviews. On the day of the event, Applied Ventures will announce its investment plans and areas of interest in Korea, and the eight domestic startups will have pitching sessions to introduce their capabilities to Applied Materials and key investors.
KOTRA stated that senior executives from Applied Materials will visit Korea to attend the pitching sessions. It was also explained that Applied Ventures' investments and collaboration reviews with Applied Materials will follow for startups recognized for their innovation.
Kim Tae-hyung, CEO of KOTRA Invest Korea, said, “As the global economy has recently faced difficulties, investment sentiment has also contracted, so we prepared this event to support domestic startups. We will continue to support projects such as investment cooperation for technology development and supply chain establishment between our startups and global companies.”
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Anand Kamananavar, Global Head of Applied Ventures, said, “This event will play an important role in Applied’s collaboration with next-generation startups. We hope to discover startups that will bring groundbreaking innovation to the market through this first event held in Korea.”
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