Bluepoint: "Direction Is Key in Connecting Corporations and Startups"... Unveils Collaboration Platform 'Studio b'

'Studio b Open Day' Held

"This is not a place to present the right answer, but a place to contemplate the direction together." (Lee Yonggwan, CEO of Bluepoint Partners)

Bluepoint Partners, a leading domestic accelerator (AC), held the 'Studio b Open Day' on the theme of open innovation at Startup Alliance &Space in Gangnam-gu, Seoul, on the 3rd. The event aimed to explore ways for large corporations, mid-sized companies, and startups to collaborate.

Lee Yonggwan, CEO of Bluepoint Partners, is giving a greeting at the 'Studio b' Open Day held on the 3rd at Startup Alliance Nspace in Gangnam-gu, Seoul. Photo by Kim Daehyun

More than 80 people attended the event, including those responsible for new business, open innovation, and innovation strategies at major domestic conglomerates, mid-sized companies, and public institutions. In his opening remarks, CEO Lee Yonggwan said, "Responding to individual requests from companies has resulted in many inefficiencies," and added, "We determined that a sustainable and scalable approach is necessary." He continued, "When the needs of startups and large corporations come together, they can create solutions," and emphasized, "There is no single answer, but we will continue to create opportunities for this kind of discussion in order to find better solutions."

Studio b was designed based on Bluepoint's accumulated experience in collaborating with external companies over several years. Bluepoint has carried out various forms of open innovation with companies such as GS, Hansol Group, LG Electronics, LG Uplus, and POSCO. They aim for strategic partnerships that go beyond simple matching or one-off events and lead to tangible results.

Im Miyoung, Head of Bluepoint Venture Studio Group, explained, "There needs to be a bridge that can both understand startups and promote internal innovation within companies," and added, "Studio b is a model where Bluepoint plays the role of both planner and AC, applying startup methodologies and processes to deliver results."

Studio b proposes two programs for large and mid-sized companies that need innovation but are not familiar with startup approaches. 'Startup Building' is a model that utilizes internal talent and technological resources to establish in-house ventures or implement company-building methods. For companies seeking to introduce innovation from outside, Studio b offers the 'Startup Connect' program in the form of IaaS (Investment as a Service), which includes PoC (Proof of Concept) projects and dedicated funds.

Through this system, large and mid-sized companies can enhance the efficiency of collaboration with startups and achieve tangible results such as increased revenue through the expansion of strategic partnerships. In fact, in an open innovation project promoted by Bluepoint and GS Energy, participating startup Scalar Data was incorporated as an affiliate of GS Energy.

Professor Kang Sinhyung of Chungnam National University, who gave a presentation on "Types and Cases of Open Innovation in Large and Mid-sized Companies" at the event, said, "Early-stage startups face significant information asymmetry, so qualitative analysis is necessary instead of quantitative analysis. The experience and intuition of reviewers are important," and emphasized, "At first, collaboration should be limited in scope and approached step by step."

He further stated, "To maximize strategic outcomes, it is essential to clearly define what will be innovated through startup partnerships," and added, "Startups and large corporations must share their respective objectives for collaboration, and a coordinator is needed to align these goals."

Meanwhile, Bluepoint, established in 2014, is a leading domestic AC that has invested in about 400 startups from seed to Series A stages. Last year, it was selected as the No. 1 AC in a preference survey of institutions among startup founders conducted by Startup Alliance.