Jungjingong Selects 35 Overseas BI Online Resident Startups

New York, USA · Shanghai, China · Ho Chi Minh, Vietnam

Panoramic View of the Small and Medium Business Corporation

[Asia Economy Reporter Kim Daeseop] The Small and Medium Business Corporation announced on the 13th that it has finalized the selection of 35 promising startups to join the online incubation program at export incubators (BI) specialized in startups located in New York, USA; Shanghai, China; and Ho Chi Minh City, Vietnam.

The companies selected for final admission are promising startups in the fields of ▲consumer goods (cosmetics, toys, etc.) ▲IT and industrial goods (radar sensors, logistics robots, etc.) ▲healthcare (brain surgery implants, virus molecular diagnostic kits, etc.).

In response to the fact that entry and exit have been virtually blocked due to the novel coronavirus infection (COVID-19), the Small and Medium Business Corporation reorganized the startup-specialized BI program mainly online to support market development in the US, China, and Vietnam, where entrepreneurs have strong intentions to expand and demand is high.

This program features customized incubation by company and industry, and integrates online and offline support, including existing online export marketing support and physical sales activities on-site.

Specifically, it supports ▲online overseas expansion delegations ▲remote marketing agency services ▲online residency. Additionally, depending on the needs of resident companies, social network service (SNS) influencer marketing and crowdfunding will be conducted step-by-step.

The Small and Medium Business Corporation especially delivers vivid information on the rapidly changing export ecosystem due to COVID-19 through region-specific programs such as online seminars on local market entry strategies. Companies can directly hear on-site voices through the startup-specialized BI and meet local buyers, investors, and related organizations online.

Kim Hakdo, Director of the Small and Medium Business Corporation, said, "We hope that the startup-specialized BI online residency program will be an opportunity for promising domestic startups to become global unicorns," and added, "The Small and Medium Business Corporation will continue to actively support overcoming the COVID-19 crisis for small and medium ventures and seeking new overseas market entry paths."