The Korea Venture Capital Association announced on the 30th that “from today until the 3rd of next month, 13 companies selected for the Scale-up TIPS program will participate in the ‘2024 Scale-up TIPS Global Meetup (Silicon Valley)’ held around Silicon Valley, USA.”
This event is tailored based on a pre-demand survey conducted with participating companies before departure to identify the support each company needs for overseas expansion. Thirteen promising domestic venture companies from various fields such as machinery and materials, information and communication, bio and medical, energy and chemicals participate to seek opportunities for building global networks and attracting overseas investment.
On days 1 and 2, the program includes ▲ investment seminars for domestic promising venture companies entering the US market ▲ one-on-one expert consultations by field ▲ visits to local venture capital firms to address challenges faced by domestic venture companies in overseas expansion. The one-on-one expert consultations invite global companies such as Cisco (network hardware), an IT-specialized company, and WittGen Biotechnologies (cancer diagnosis machine learning), a bio-specialized company, as well as a Santa Clara city council member. This is to solve issues faced by participating companies such as connecting with local B2B clients, B2B marketing, and expanding overseas branches.
On days 3 and 4, local venture capitalists interested in domestic companies are invited to a corporate presentation pitching showcase for investment review and networking. Additionally, the UC Berkeley research and development collaboration center is visited to discuss joint research with domestic venture companies. The IR pitching showcase is attended by various venture capitalists and experts tailored to the needs of the participating companies.
As the final schedule, visits to each institution at the UC Berkeley research and development collaboration center are planned to address issues related to intellectual property management, technology transfer, and partnership building for domestic venture companies’ overseas expansion. A representative from one of the companies participating in the meetup program said, “We are very excited to have been selected for the Scale-up TIPS, the flagship project of promising domestic venture companies, and to participate in this program as well,” adding, “We hope the Scale-up TIPS Global Meetup will serve as a foothold for entering the US market.”
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