The Most Needed Aspect for the Korean Startup Ecosystem Is 'Globalization'

Startup Alliance 10th Anniversary Survey

For the domestic startup ecosystem to grow, 'globalization' was identified as the most necessary factor, while regulations that hinder growth were ranked as the top priority for improvement.

Startup Alliance announced the results of a survey conducted to mark its 10th anniversary on the 18th.

This survey was conducted to understand the perceptions of members regarding the Korean startup ecosystem and to evaluate Startup Alliance. The survey targeted 330 members of the startup ecosystem, including startups, investors, government and local authorities, journalists, professors, and aides.

The survey results showed that the most needed aspect for the Korean startup ecosystem was 'globalization of the Korean startup ecosystem,' with 158 respondents (48%) selecting this. The next most common response was 'connection among startup ecosystem members,' chosen by 155 respondents (47%). Following that, 'provision of content and information to understand the ecosystem status' was selected by 148 respondents (44.8%), and 'policy and regulatory research to promote innovation' was chosen by 141 respondents (42.7%).

When asked about areas that need improvement in the Korean startup ecosystem, 198 respondents (60%) pointed to 'regulations and policies that hinder the continuous development of startups.' The second most common response was 'government-led support projects and policies,' with 147 respondents (44.5%) selecting this. This was followed by 'lack of entrepreneurship' with 111 respondents (33.6%), and 'improvement of negative perceptions toward startups' with 58 respondents (17.6%).

The most frequently mentioned significant event in the Korean startup ecosystem over the past 10 years was the 'Tada incident.' Other responses included 'Coupang's NASDAQ listing,' 'unicorn emergence,' and 'Woowa Brothers acquisition.'

Startup Alliance was established on March 18, 2014, and celebrated its 10th anniversary this year. Over the past decade, it has grown as an organization connecting startup ecosystem members through ▲domestic and international network building ▲policy research and regulatory response. Startup Alliance plans to expand its role by focusing on the globalization of the Korean startup ecosystem and revitalization of regional startup ecosystems.

A representative of Startup Alliance said, "We express our gratitude to all ecosystem members who have been with us for 10 years," adding, "We will continue to strive for the development of the Korean startup ecosystem as a leader in creating a private-led ecosystem, expanding globally and regionally."

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