[NE Coffee Chat] DSH Korea Opens Pathways for Domestic Startups to Expand Overseas

From Space to Consulting to Investment: 'One-Stop Incubation'
Global Exposure Just by Participating... 'Meet the Drapers'
Visible Investment Achievements Within Six Months of Opening the Seoul Center

For domestic startups aspiring to expand overseas, a global network is essential, but the barriers in reality remain high. It is also not easy to find customized information or support measures that can be immediately utilized for overseas expansion. According to the "2024 Venture Business In-Depth Survey" by the Ministry of SMEs and Startups, the biggest difficulties faced when entering foreign markets were identified as "lack of necessary funds for overseas expansion" and "lack of market information," ranking first and second, respectively. In addition, the challenges are further heightened due to the United States' protectionist policies and global geopolitical instability.

In this context, "Draper Startup House Korea (DSH Korea)," which discovers promising early-stage domestic startups and supports their entry into overseas markets, is attracting attention. DSH Korea is the Korean branch of "DSH," a global startup incubation center established by legendary Silicon Valley venture capitalist Tim Draper, who achieved great success by making early investments in world-renowned companies such as Baidu and Tesla. DSH Korea is evaluated as opening a new horizon in the Korean startup ecosystem by providing the space, information, and network necessary for domestic startups to seize opportunities in the global market.

On the 31st, Lee Seyong, CEO of DSH Korea, said, "We want to serve as a gateway for domestic startups to enter the global market," adding, "DSH Korea, based on a shared office model, is focusing on two main tasks: nurturing promising companies and supporting their entry into global markets."

Seyong Lee, CEO of Draper Startup House Korea. DSH Korea

The DSH Korea Seoul Center, located in Sinsa-dong, Gangnam-gu, Seoul, where the interview with CEO Lee was conducted, opened in January this year. The building, which consists of one basement floor and four floors above ground, has a total area of 200 pyeong and currently houses 30 startups. DSH Korea plans to open additional centers in Songdo and Pangyo in the future. The company aims to be a "one-stop incubation platform" that goes beyond simply providing space, offering growth strategy consulting, entrepreneurship education, global networking, and investment connections.

DSH hosts the global startup competition "Meet the Drapers." Preliminary rounds are held in cities around the world, and the final round takes place in Silicon Valley, United States. The competition has reached its seventh season. DSH Korea is planning to hold the Korean preliminary round for season 8 in October. Notably, the competition is streamed worldwide through "Draper TV" and is watched by approximately 30 million viewers. For startups, even a single exposure can bring significant promotional benefits. CEO Lee explained, "Orbit, an AI-based financial news analysis startup based at the Seoul Center, received a flood of investment inquiries after appearing on the show last May." He emphasized, "Many startups miss such great opportunities because they remain only in the domestic market. Sometimes, it is actually easier to attract investment overseas."

DSH Korea has achieved visible results within just half a year of opening the Seoul Center. Two of the resident companies have entered the final stages of attracting investment. In the beauty tech open innovation program being conducted with LG Household & Health Care, three companies are undergoing due diligence for investment attraction. In the innovation program operated jointly with Seoul Bio Hub, three companies are in the process of attracting investment from Singapore and other locations, and CEO Lee expects results soon.