25-27, Overseas Tourism Enterprise Support Center Singapore Demo Day
Domestic Tourism Enterprises - Local Investors 1:1 Matching
The Ministry of Culture, Sports and Tourism and the Korea Tourism Organization announced on the 27th that they held the 'Singapore Overseas Tourism Enterprise Support Center Demo Day' at The Hive in Singapore on the 26th. A demo day is an event where startups present their business models to investors.
Marina Bay Sands, a giant tourist attraction symbolizing Singapore. [Photo by Singapore Tourism Board]
This event was planned to establish commercialization directions and increase investment attraction possibilities for Korean travel tech companies to enter the Singapore tourism industry.
Nine domestic tourism startups, including Monolith, Tripbitos, Unique Good Company, and Eoding, participated in the demo day. About 50 companies attended as investors, including Garage, Peak XV Ventures, Qualgro Partners, and Monks Hill Ventures.
The Korea Tourism Organization conducted various programs around the demo day. On the 25th, the day before the demo day, a lecture on local entry strategies in Singapore and a PoC (Proof of Concept) session for KrisLab in Singapore were held. On this day, serious investment discussions were conducted through one-on-one matching with nine local investors interested in Korean tourism startups.
Kim Dong-il, Head of the Tourism Industry Division at the Korea Tourism Organization, is delivering a greeting at the Overseas Tourism Enterprise Support Center Singapore Demo Day. [Photo by Korea Tourism Organization]
The Korea Tourism Organization’s Singapore Tourism Enterprise Support Center actively supports promising overseas tourism companies with ▲settlement support (providing market information and office space, etc.), ▲overseas business and investment attraction support (matching with tourism industry and local investors), ▲connecting open innovation demand and supporting PoC in the tourism sector, and ▲operating internship linkage programs with major universities in Singapore to help Korean travel tech companies settle locally.
Kim Dong-il, Head of the Tourism Industry Division at the Korea Tourism Organization, said, "Since establishing the Singapore Overseas Tourism Enterprise Support Center in August 2022, we have achieved visible overseas investment attraction in a short period through about 670 business matchings and support for 10 corporate establishments. We will continue to support the export of services by technology and tourism service convergence companies to connect startup ecosystems between countries."
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