Major Corporations Including Samsung Securities and SK Telecom Spotlight 'Gwanak S Valley' Venture Startup Exchange Event Opens

8 Startups Selected Through Evaluation, with Participation from 5 Large and Medium Enterprises Including Samsung Securities, SK Telecom, and Kyobo Bookstore... A Platform for Exchange Through Discussions on Technology Partnerships and Investment Attraction Between Startups and Large/Medium Enterprises... Startup Networking Held to Discuss Development Plans for Gwanak-gu Venture Startup Ecosystem

Gwanak-gu (Mayor Park Jun-hee)'s 'Gwanak S Valley' is gaining attention as it was selected this year as a rapid promotion project for balanced development in the southwestern area of Seoul.

Also, in early November, Gwanak-gu established the 2nd Gwanak S Valley Corporate Support Fund, injecting new vitality into the venture investment market, which has been shrinking due to worsening economic conditions, and is reborn as a mecca for venture startups.

To accelerate this, the district held the '2023 Gwanak S Valley Open Innovation' event on November 16 at the Sillim Venture Startup Center.

Open Innovation is a concept where companies procure the technologies and ideas they need from outside while sharing internal resources externally to create new products or services.

The district organized the '2023 Gwanak S Valley Open Innovation' as a collaborative platform where 8 startup companies and 5 large and medium-sized enterprises gathered to discuss technology partnerships and investment attraction.

Notably, the 8 startup companies were selected through a document evaluation based on ▲innovation ▲investment feasibility ▲practical feasibility ▲collaboration potential, making them promising enterprises worth attention.

These companies come from various fields such as bio, ICT, and artificial intelligence, including 4 companies located in Gwanak-gu, 2 in Gunpo-si, 1 in Uiwang-si, and 1 in Anyang-si.

Additionally, the 5 large and medium-sized enterprises are Samsung Securities, SK telecom, Kyobo Book Centre, HB Investment, and Seoul National University Technology Holdings, all of which invest extensively across all startup sectors including bio, deep tech, and content.

The event proceeded in the order of ▲presentation of open innovation cases by large and medium-sized enterprises ▲IR (Investor Relations) pitching by 8 startups ▲Q&A session with the audience including large and medium-sized enterprises ▲and voluntary networking among attendees.

First, Samsung Securities and SK telecom each gave 15-minute presentations on their open innovation cases.

Samsung Securities introduced the ‘Open Collaboration’ program and cases, which lead changes in the financial industry through cooperation with startups. Following that, SK telecom attracted attention by presenting cases of technology partnerships and investment attraction with startups.

The ‘IR pitching by 8 startups’ and ‘Q&A session with the audience including large and medium-sized enterprises’ were conducted by having startups present their technologies and ideas followed by a Q&A session.

During the subsequent ‘voluntary networking among attendees,’ representatives from large and medium-sized enterprises and startups gathered to engage in lively discussions on collaboration methods, spending a meaningful time together.

Meanwhile, on the same evening, the 'Gwanak S Valley Startup Networking' was held to discuss the development plans for the venture startup ecosystem in Gwanak-gu.

Attended by many stakeholders from Gwanak S Valley resident companies including Mayor Park Jun-hee of Gwanak-gu, participants shared technologies and challenges in the startup field and had in-depth conversations about the development plans for ‘Gwanak S Valley.’

Mayor Park Jun-hee said, “Today’s event was a meaningful occasion where large and medium-sized enterprises and startups shared ideas and could coexist,” adding, “We will continue to do our best to ensure that Gwanak S Valley can lead innovation in the venture startup ecosystem.”