Supporting Korean Startups' Entry into the U.S. Market
Facilitating Local Business Development and Global Investment Opportunities
The Small and Medium Business Corporation announced on August 18 that it has signed an agreement with the Polsky Center at the University of Chicago to support startups.
The Polsky Center at the University of Chicago is a world-class deep tech startup incubator, having produced over 600 innovative companies and attracted more than $10 billion (approximately 14 trillion KRW) in investment. The center operates deep tech startup incubation programs specializing in future core fields such as quantum technology, artificial intelligence (AI), and cleantech, by connecting professors, businesses, students, and the local community.
This agreement builds on the 2022 memorandum of understanding between the Small and Medium Business Corporation and the University of Chicago for the creation of a global startup ecosystem, and is designed to facilitate Korean startups' entry into the U.S. market. The main points include support for incubation in deep tech fields, access to expert networks, and business validation in the local market, thereby assisting startups from early-stage establishment to commercialization and supporting their global expansion and growth.
In particular, Korean deep tech startups will receive tailored coaching and mentoring from experts, as well as access to infrastructure such as laboratories. By leveraging a network of more than 40,000 mentors and investors, the program will provide support for local business development and create opportunities to attract global investment.
Cho Hankyo, Director of Human Resource Development at the Small and Medium Business Corporation, stated, "This agreement is a significant opportunity for Korean startups to connect directly with the world's leading deep tech ecosystem," adding, "We will continue to actively expand global partnerships so that startups can grow beyond borders."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
