[Asia Economy Reporter Hwang Yoon-joo] The Korea International Trade Association (KITA) held the third one-on-one virtual meetup between LEGO Ventures and domestic startups on the 11th at the Trade Tower in Samseong-dong.
Starting with connecting 35 domestic startups with LEGO headquarters in Denmark in April last year, KITA invited LEGO Ventures, LEGO's corporate venture capital (CVC), to the NextRise 2020 event in June this year, facilitating meetups with nine domestic startups. This ongoing collaboration with the LEGO Group aims to support the global scale-up of Korean startups.
As a result, one domestic edutech startup signed a non-disclosure agreement for investment with LEGO Ventures, and LEGO Ventures, recognizing the global competitiveness of Korean startups, requested another meetup, leading to this event.
Josh Zhou, Head of Asia-Pacific Investment at LEGO Ventures, said, "There are many startups in Korea differentiated by global business strategies beyond Asia and innovative technologies. The LEGO Group wants to be a long-term partner so that tech-equipped startups can thrive in larger markets."
Cho Sang-hyun, Head of Startup Global Division at KITA, stated, "It is encouraging that investment results have come from the LEGO Group, with whom we have steadily collaborated since launching the 'Fortune 500 Connect' project last year, connecting Fortune 500 companies and startups. The association will also actively support to ensure good outcomes from this meetup."
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