Global Startup Festival to Be Held at COEX on the 11th of Next Month

Ministry of SMEs and Startups Announces 'ComeUp 2024 Promotion Plan'

On the 11th and 12th of next month, the largest global startup festival in Korea will be held at COEX in Seoul. Innovative startups and investors from over 40 countries overseas are expected to participate.

The Ministry of SMEs and Startups announced the ‘COMEUP 2024 Promotion Plan’ on the 25th at the Global Startup Center located in Gangnam-gu, Seoul. COMEUP, which started in 2019 and is now in its sixth year, is a platform to showcase Korea’s excellent startup ecosystem to the world and to facilitate exchanges among global startup and venture ecosystem members, including domestic and international startups and investors.

Oh Young-joo, Minister of SMEs and Startups, is briefing on the main contents of 'COMEUP 2024' at the Global Startup Center (GSC) in Gangnam-gu, Seoul on the 25th. Provided by the Ministry of SMEs and Startups

This year’s COMEUP slogan is ‘Innovation Beyond Borders,’ meaning that startups lead global innovation beyond national and technological boundaries. Various programs such as conferences, pitching, and exhibitions will be held under detailed themes including deep tech, inbound, and sustainable innovation by startups (SIS).

This year, COMEUP has moved from its previous venue at Dongdaemun Design Plaza (DDP) in Seoul to COEX, doubling the space to strengthen the functions of the global startup festival. Linking the government’s overseas strategic initiatives and official development assistance (ODA) achievements with COMEUP, over 150 startups and investors from about 40 countries including the UAE, Japan, Uganda, and Colombia will participate. The UAE, Japan, and India will operate national pavilions, and Uganda and Colombia, which run Korea’s Youth Startup Academy program through ODA, will also operate separate exhibition halls. The African Development Bank will participate in COMEUP to showcase promising African startups.

The ‘Inbound’ program for overseas startups visiting the site has also been enhanced. A policy promotion hall introducing Korea’s major startup and venture policies and programs will be operated, and consultations on visa issuance and settling in Korea will be provided. Through the K-Startup Grand Challenge Demo Day, a foreign startup competition, a total prize of $400,000 will be awarded to outstanding foreign entrepreneurs.

A specialized session has been prepared to increase understanding of carbon neutrality among ventures and startups and to disseminate collaboration cases between deep tech companies and large corporations in the carbon neutrality field. The SIS conference will discuss the activation of voluntary carbon markets and directions for fostering climate tech ventures and startups. An exhibition hall featuring deep tech startups collaborating with large corporations will be set up to showcase growth cases through open innovation in the climate tech sector.

Exchanges with global investors have also been expanded. To provide opportunities for global investment cooperation and meetings between domestic and international venture capitalists and promising domestic ventures and startups, the ‘K-Global Venture Capital Summit 2024’ will be held from the 10th to the 12th as a COMEUP-linked event.

The ‘Challenge! K-Startup 2024 Championship,’ the largest domestic startup competition operated in collaboration with 10 government ministries including the Ministry of SMEs and Startups, and the Venture and Startup Promotion Merit Awards Ceremony, which has been held since 1997 to honor exemplary venture and startup companies that have created innovation through challenging spirit and to spread success stories, will also be held at COEX in conjunction with COMEUP. In addition, a total of 24 conference sessions will be operated under the keywords ‘global’ and ‘deep tech,’ and about 260 innovative startups will participate in approximately 150 exhibition booths to showcase their products and technologies.

Minister Oh Young-joo of the Ministry of SMEs and Startups said, “Through COMEUP, we will show the innovation created by startups worldwide and the future shaped by startup innovation,” adding, “We will strive to establish COMEUP as a startup festival representing Asia beyond Korea.”