Martial Arts, Webinar on European Startup Ecosystem and Entry Cases to be Held on the 24th

Berlin Facilitates Easy Collaboration with Large Corporations, Luxembourg Excels in Government Policies

[Asia Economy Reporter Park Sun-mi] The Korea International Trade Association (KITA) held a webinar titled ‘European Startup Ecosystem and Entry Cases’ on the 24th.

Kang No-kyung, manager of KITA’s Brussels office, who presented on ‘European Startup Trends and Entry Strategies,’ said, “Berlin is concentrated with artificial intelligence (AI), big data, fintech, and green industries, and as the capital of a major European economy, collaboration with large corporations is easy. Additionally, Luxembourg is the EU country with the highest GDP per capita, and its government’s recent proactive startup attraction strategy makes it a market worth targeting for our companies.”

Hwang Jong-woon, head of the Korea Innovation Center (KIC) Europe, also said, “The fact that UK and Berlin VCs are leading early-stage investments in Europe indicates that Berlin’s startup ecosystem is maturing. As the concentration of venture capital (VC) investments in Silicon Valley decreases, the trend of VC investments becoming globalized is becoming clear, so attention should be paid to the European market going forward.”

In the following presentations, domestic startup representatives introduced their cases of entering the European market. Jung Kwang-il, director of ImmersiveCast, which provides immersive metaverse collaboration services, stated, “Success in Berlin often leads to success in Europe, and since there is less competition than in the US market, we chose Berlin as a foothold for entry.” Lee Jae-won, vice president of Contec, a startup related to the space industry, shared his experience, saying, “We succeeded in entering the European market by utilizing Luxembourg’s space industry support policies and startup nurturing strategies.”

Park Sun-kyung, head of KITA’s Startup Growth Support Office, said, “We will hold a series of webinars introducing startup ecosystems in overseas markets that domestic startups should pay attention to, such as the US, Southeast Asia, and China.”

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