COMEUP 2021 Asia’s most prominent startup festival scheduled this year from November 17-19 saw tremendous participation from startups seeking to reach domestic and international investors. The event provided growth opportunities for innovative startups with conferences, IR presentations by COMEUP STARS, an open innovation showcase from global companies, biz matching, etc. A panel of esteemed judges heard the pitches during the showcase. It gave valuable advice to the budding startups during the question-and-answer session to help them scale up successfully.
In 2021 COMEUP STARS are innovative startups chosen to represent the event. A total of 783 companies applied for 72 spots, resulting in a highly competitive rate. It is evidence of great interest in COMEUP from startups around the world. During the event, leaders of various incubators and accelerators also interacted with startups and deliberated about the opportunities and scope for startups in different industries.
GS Retail’s Take on Synergy and Strategic Investment
Saeun Jung, Head of the CVC Team of GS Retail, spoke about how at CVS, they are trying to source suitable products and good services into their online and offline Tv, MC and PC channels. He has been leading startup investments around the commerce sector for three years as the Head of the corporate venture capital team at GS Retail (ex-venture investment team at GS Home Shopping).
He spoke in detail about how GS Retail gets in technological partnership and intelligible product partnership with startups and how they support the startups through infrastructure sharing and new industry joint promotion. He also spoke about the fields in which new startups could get into to grow in the future.
More than ‘I’: Industry, Insurance, and I
Kumjoo Huh, Executive Vice President at Kyobo Life Insurance Co., Ltd., one of the major Life Insurance Companies in Korea with a total asset of over US$100 billion, spoke about how Kyobo Life Insurance Co. is investing in a startup in the Fintech sector for innovative technologies and products in the Insuretech sector.
With her 30+ years of experience at Kyobo Life, she devoted her career in Corporate Strategy, Overseas Operations, B2B Business and Digital Transformation. She deliberated how startups can develop innovation in these sectors to partner with her company through collaboration and strategic investment.
Open Innovation Strategy with Shinhan Future’s Lab
Youngmin Kim, who leads Shinhan Financial Group’s accelerator program, Shinhan Futures Lab, deliberated on assisting startups. He spoke about the journey of SFL since 2015 towards becoming a global accelerator.
Kim said that SFLE Open Innovation Acceleration Program looks for connections, business opportunities and shared experiences to startups, creating a cooperation ecosystem for mutual growth. Originally known as a leading startup acceleration program in Korea, SFL has become an effective model to support startups in Vietnam, creating various chances for the startup ecosystem here. SFL has been working closely with Shinhan Bank in Vietnam to promote its operation and help startups in Vietnam to grow stronger through its business support activities globally.