KOTRA will hold an online consultation and briefing session for entry into the two major U.S. crowdfunding platforms, Kickstarter and Indiegogo, over two days starting from the 26th of this month. The scene from the U.S. crowdfunding entry support project briefing held on the 10th.
[Asia Economy Reporter Jin-ho Kim] KOTRA will hold an online consultation meeting for entry into the two major U.S. crowdfunding platforms, Kickstarter and Indiegogo, over two days starting from the 26th. Thirty domestic companies plan to discuss entry strategies while consulting with crowdfunding specialized agencies.
Recently, crowdfunding has been recognized as a testbed to gauge market response before the official launch of new products and as an opportunity to secure references before entering large distribution networks. In particular, Kickstarter attracted global attention last year with 470,000 early adopters supporting projects, leading to an increasing number of Korean companies wishing to enter the platform each year.
About 130 Korean companies participated in the online preliminary briefing session held prior to the consultation meeting. Speakers included Park Han-jin, CEO of AltosBiz, a crowdfunding specialized agency, and Yang Seung-jae, director of Kixgogo, who explained the overview of crowdfunding, recent trends, and marketing strategies. They covered everything companies are curious about regarding U.S. crowdfunding, from administrative requirements for entry (corporate registration, bank accounts, U.S. Social Security Number, etc.) to budgeting based on funding goals, and marketing methods according to Kickstarter’s ranking algorithm.
The consultation meeting starting on the 26th will be conducted for about 30 companies selected from those who participated in the briefing session. Participating companies will receive detailed one-on-one consulting on entry methods and marketing strategies through consultations with crowdfunding entry agencies.
The selection of companies reflected the characteristics of crowdfunding platforms that prefer innovative design products or tech devices. Representative examples include companies with innovative products such as a metaverse indoor cycling app, a fishbowl combined flowerpot, and heated handles for personal mobility devices, which are expected to participate in the entry consultations.
Kim Yoon-tae, head of KOTRA’s Small and Medium Business Division, stated, “Despite high interest in crowdfunding, actual entry or funding success is difficult,” and added, “This consultation meeting will serve as a guide for crowdfunding and create successful cases of Korean startups entering the U.S. market.”
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