'ComeUp 2023' Global Startup Festival... Participation from 35 Countries (Comprehensive)

Large Delegations from Saudi Arabia and UAE Visiting at DDP from 8th to 10th

‘COMEUP 2023,’ the largest startup festival in Korea, will be held for three days from the 8th to the 10th at Dongdaemun Design Plaza (DDP) in Jung-gu, Seoul. Since its inception in 2019, COMEUP has evolved into a global event this year by attracting participation from overseas companies.

On the morning of the 8th, 'ComeUp 2023,' the largest startup event in Korea, is being held at Dongdaemun Design Plaza (DDP) in Jung-gu, Seoul.
[Photo by Yonhap News]

At the opening ceremony of COMEUP held on the same day, Lee Young, Minister of SMEs and Startups, delivered a welcoming speech, stating, “The Ministry of SMEs and Startups has set a very ambitious plan to make COMEUP one of the world’s top five international startup festivals by 2027,” and added, “This year, we have made efforts to broaden the scope to truly give a vivid sense of being global.”

This year, overseas startups accounted for about 60% of COMEUP participants. Accordingly, a separate ‘Global Community Zone’ was newly established for approximately 100 overseas startups. Around 700 participants from 35 countries, including Saudi Arabia, the United Arab Emirates (UAE), the United States, France, Switzerland, Japan, and Vietnam, are attending. Saudi Arabia and the UAE are sending large delegations.

Minister Lee presented a vision for a ‘Global Startup Ecosystem Network.’ While there are startup clusters worldwide such as Silicon Valley in the U.S. and Station F in France, there is a lack of close exchange. The plan is to connect these startup clusters into one network centered on Korea. To support borderless startups, the ministry plans to ease startup and employment visa systems and establish a global fund worth 10 trillion won by next year. A digital network will also be implemented to enable startups worldwide to interact and collaborate without physical space constraints.

Minister Lee explained, “The most important question is who will seize the infinitely expanding global economy, and who will quickly enhance the digital globe to merge with the existing globe to create a convergent economy. This will define the status of the next-generation future economic activity nation. Starting next year, if the Ministry of SMEs and Startups deems it beneficial to national interests, it will support anyone with Korean nationality who starts a business anywhere outside Korea with funding and infrastructure. Even if they are not Korean nationals, if it is considered to be of long-term benefit to Korea’s national interests, all those who come to Korea to start a business will be supported.”

The opening ceremony was attended by several overseas government agencies and global companies, including Sami bin Ibrahim Alhusseini, Director General of the Saudi Arabian SME Authority; Abdulaziz Al Risi, Deputy Director General of the Omani SME Authority; Marc-Antoine Jamet, Chairman of Cosmetic Valley; Olivia Herbie, Chief Executive Officer of Viva Technology Ecosystem; and Howard Wright, Vice President of AWS Startup Division.

Minister Lee Young of the Ministry of SMEs and Startups delivers a welcome speech at the opening ceremony of 'COMEUP 2023' held on the 8th at Dongdaemun Design Plaza (DDP) in Jung-gu, Seoul.
[Photo by Ministry of SMEs and Startups]

The ‘Conference’ session, Future Talk, was organized around themes corresponding to different stages of startup growth, such as “Do You Really Want to Start a Business, Dreamer?” and “Global Expansion: Misconceptions and Truths.” Starting with Jiolpak, a musician gaining attention in the first half of the year and founder of the lifestyle platform ‘Syndromes,’ over 70 speakers will participate in more than 20 topics over three days.

Park Jae-wook, Chairman of the Korea Startup Forum, said, “As global economic uncertainties continue, including prolonged high interest rates, concerns about the startup ecosystem have also increased significantly. However, during such times, the demand for innovation symbolized by startups has grown even more, and the rules of the game for the entire ecosystem, including startup growth formulas, founding methods, and entrepreneurial spirit, have begun to be newly defined. Through chaotic times and fierce competition, startup founders are reborn as true innovators, advancing again with new growth strategies and innovative technologies, continuously moving the world.”

Chairman Park added, “COMEUP 2023 was planned as a place to share the real startup stories of genuine players navigating through intense competition and uncertainty. I believe the core growth strategy points for founders, which cannot be heard anywhere else, will provide deep insights to all entrepreneurs here.”

The second day of the event is designated as Open Innovation Day. About 20 global companies, including NVIDIA, Dassault Syst?mes, Hyundai Motor Company, and Naver Cloud, will participate to present successful collaboration cases with startups.

Visitors can also experience booths of COMEUP Stars, selected through a competitive process with an average ratio of 7.4 to 1, and the Initial Public Offering (IPO) pitching stage. Business matching with more than 160 venture capitalists (VCs), including domestic and international VCs and corporate venture capitals (CVCs), will also be conducted.

COMEUP 2023 is open to anyone through on-site registration. All events can also be viewed via the COMEUP website and COMEUP YouTube channel.

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