Startup Support Enthusiasm Ignites Offline as Well

Experience Startup Crowdfunding Products Firsthand... Visiting 'Gonggan Wadiz' in Seongsu-dong, Seoul

Somewhere, a drum beat can be heard. It is the sound of a smart drum developed by the startup MoPlay, a product that allows anyone to easily learn drums by following along as if playing a game. There is a place where anyone can tap and experience this product. This is not a store selling the latest electronic instruments. Nearby, a smart scalp dryer developed by the startup Sunsubaram is on display. This dryer is known for generating low electromagnetic waves, radon, and dust. While it is difficult to try products sold online in person, this place allows visitors not only to see the exhibits but also to use them immediately. This place is "Gonggan Wadiz" in Seongsu-dong, Seoul, where you can meet the latest idea products from startups.

Wadiz (CEO Shin Hye-sung), which operates a crowdfunding platform, has established its offline store "Gonggan Wadiz" as a hotspot for startups. Wadiz, which has connected "makers" (founders and sellers) who have ideas and technology but lack funds or need product promotion and market testing with "supporters" (consumers and investors) looking for innovative products in the digital space, expanded offline by opening "Gonggan Wadiz" at the end of April. Since its official service launch in 2014, Wadiz has handled nearly 400 billion KRW in cumulative transactions and over 20,000 projects, establishing itself as a funding gateway for startups. Currently, 800 to 900 new projects are registered monthly, and about 15-20% of these products are exhibited at Gonggan Wadiz. When visiting Gonggan Wadiz last month, one could encounter products dreaming of becoming "unicorns."

Gonggan Wadiz is located in an alley between Seongsu Station and Ttukseom Station on Line 2. Before this place opened, the building was shared by a paper factory and a call center. Despite the inconvenience of having to find the alley, Wadiz explains that before the resurgence of COVID-19, about 300 people visited daily, and on weekends, around 1,000 visitors came over two days, showing its popularity.

Gonggan Wadiz spans 1,133 square meters and consists of four floors from the basement level 1 to the rooftop on the third floor. The basement level 1, named "Square," is a space where various startup-related events such as investor relations (IR) presentations, talk concerts, lectures, and educational events can be held. On the first floor, visitors can find products currently being funded on Wadiz. The categories range from tech and electronics to fashion, accessories, beauty, food, and pets, allowing startups to showcase new products and consumers to touch and experience them firsthand. Currently, about 250 to 300 startup products are exhibited monthly. The second floor houses the "Maker Store," where products that have successfully completed funding can be purchased on-site. Approximately 100 teams have stores here. On the same floor, there is also a "Workstation" where individual creators and entrepreneurs can work freely. The rooftop on the third floor is used as a place for networking parties and natural exchanges among startups. A Wadiz representative explained, "We planned Gonggan Wadiz with the belief that experiencing products firsthand is essential to fostering a crowdfunding culture that supports new challenges. We focus on connection, aiming for a space where makers and supporters coexist and collaborate."

After CEO Shin Hye-sung announced plans for an offline store, Wadiz received partnership and store entry offers from large department stores and marts. However, they decided that an independent store was necessary to support startups continuously trying new things and to facilitate good communication connecting supporters. Thus, they established this space in Seongsu-dong, focusing on creating a startup ecosystem where various challenges continue. The response from visitors to Gonggan Wadiz has been positive. A supporter named Kim Hee-jung (pseudonym), who visited on this day, said, "It was helpful to be able to touch and experience products from startups currently crowdfunding online."