Martial Arts, Supporting K-Startups' Entry into Europe at IFA 2024 Venue

Vice Chairman Lee In-ho Invited as Speaker at IFA Conference
Emphasizes Need to Connect Startup Ecosystems of Both Countries

The Korea International Trade Association (KITA) has stepped up support for domestic startups entering the European market at IFA 2024, Europe's largest electronics fair held in Berlin, Germany. Lee In-ho, KITA's Vice Chairman, was the only Korean invited by IFA as a conference speaker and gave a lecture on the need to connect the startup ecosystems of both countries.

Lee In-ho, Vice Chairman of the Korea International Trade Association (KITA), signed a strategic business agreement (MOU) with Life-Eric Lindner, CEO of IFA, and the global startup platform in Berlin, Germany, on the 7th (local time), and is taking a commemorative photo.
[Photo by KITA]

KITA announced on the 9th that it held the "Korea-Germany Startup Open Innovation Week" in Berlin, Germany, for a week starting from the 4th (local time). The event is a comprehensive program to support domestic startups' entry into Europe and promote cooperation between startups and investors from both countries.

At the event, KITA conducted the Korea-Germany Corporate Venture Capital (CVC)-Startup Open Innovation Summit, operated the KITA Startup Pavilion, hosted the "K-IR Reception" where Korean startups pitched to German investors, and organized on-site visits and networking programs within the European innovation ecosystem.

Additionally, a joint booth for Korean startups was set up and operated at the startup-exclusive pavilion "IFA Next." Ten domestic startups recognized for their technology in AI, digital health, drones, and more showcased their products and technologies.

A K-IR reception and networking event introducing Korean startup products and technologies to German conglomerates and investors were also held. At the Korea-Germany CVC Open Innovation Summit, large corporate CVCs and startups from both countries gathered to discuss win-win cooperation strategies.

During the event, KITA signed a strategic Memorandum of Understanding (MOU) with IFA and a global startup platform. KITA is also the host organization of Asia's largest startup event, "NextRise." Through the agreement with IFA, KITA plans to connect the startup ecosystems of both countries and continue cooperation for the commercialization of innovative technologies.

Vice Chairman Lee, who participated in the event, spoke as an IFA conference speaker on the theme "A New Path of Economic Exchange Between the Two Countries Through Innovation." In his lecture, he proposed to the German side the Korea-Germany trade and economic cooperation, the need to link the startup ecosystems of both countries, discovering new growth engines through open innovation among large, medium-sized enterprises, and startups, and joint responses to global issues such as global supply chain fragmentation and Environmental, Social, and Governance (ESG) factors.

Vice Chairman Lee said, "We plan to designate Germany as the guest country for next year's NextRise exhibition to continue startup cooperation with Germany."

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