Ministry of SMEs and Startups and HP Join Hands to Support Global Expansion of Korean Startups

Signing of Memorandum of Understanding (MOU)
Supporting Korean Startups in AI and Data Fields

The Ministry of SMEs and Startups announced that Noh Yongseok, First Vice Minister, visited the U.S. headquarters of HP Inc., the global leader in PCs and printing, on January 9 and held talks with David McQuarrie, Chief Commercial Officer (CCO), to discuss ways to strengthen cooperation in the startup sector.

HP, founded in 1939 by Bill Hewlett and Dave Packard in a garage in Palo Alto, continues the spirit of the "HP Garage" by running the startup incubation program "HP Garage 2.0" and actively promoting open innovation.

Noh Yongseok, First Vice Minister of the Ministry of SMEs and Startups (center), is posing for a commemorative photo after attending the signing ceremony of the Memorandum of Understanding (MOU) for the operation of AroundX (Global Corporate Collaboration Program) between the Korea Institute of Startup & Entrepreneurship Development and HP at HP headquarters in the United States on the 9th (local time). Ministry of SMEs and Startups

Starting this year, HP plans to participate in the Ministry's global corporate collaboration program (AroundX Program) and operate "HP Garage 2.0" in Korea as well. The "AroundX" program is a flagship global open innovation support initiative by the Ministry of SMEs and Startups, in which the government collaborates with leading global companies to support the growth and overseas expansion of domestic startups.

During the meeting, First Vice Minister Noh Yongseok and CCO David McQuarrie agreed to jointly support the enhancement of competitiveness and global expansion of Korean startups in the fields of AI and data science through the "AroundX Program." Following the meeting, the Korea Institute of Startup & Entrepreneurship Development and HP signed a Memorandum of Understanding for the operation of AroundX.

David McQuarrie, HP CCO, stated, "Korea has a very dynamic ecosystem in the fields of AI and data science," adding, "Through this collaboration, we look forward to creating innovative business opportunities by partnering with outstanding Korean startups, leveraging HP's global network and technological capabilities."

Vice Minister Noh said, "We are now able to support Korean startups together with HP, a company that symbolizes the entrepreneurial spirit that gave birth to Silicon Valley. Through the AroundX 'HP Garage 2.0' program, which begins this year, I hope that a company like HP will emerge from Korea."