Ministry of SMEs and Startups Engages On-Site in Silicon Valley to Support Global Expansion of K-Startups

Silicon Valley Venture and Startup Roundtable

The Ministry of SMEs and Startups announced on January 11 that it held a roundtable with local startups and related experts in Silicon Valley, the center of the U.S. innovation ecosystem, and continued its on-site communication efforts by visiting the deep tech company ImpriMed. This initiative was organized to gain insights into the Silicon Valley startup ecosystem and to discuss policy directions necessary for global expansion and scaling up, together with local companies and experts.

The roundtable, held on January 8, began with presentations from academic, legal, and industry experts on the Silicon Valley ecosystem. Various suggestions were discussed to help startups entering Silicon Valley grow, including the establishment of a legal support hotline for local startups, securing U.S. market references, and supporting collaboration networks with global corporations. Noh Yongseok, First Vice Minister of the Ministry of SMEs and Startups, stated, "This roundtable provided an opportunity to hear both the opinions of local U.S. experts and the real-life experiences of entrepreneurs," adding, "We will continue to enhance the effectiveness of our policies through direct communication with the field."

On January 9, the delegation continued its on-site engagement by visiting ImpriMed, a local startup in the United States. ImpriMed is a company that combines biological analysis with artificial intelligence (AI) technology to predict the efficacy of personalized anticancer drugs. It is a local startup that has established its foundation in the U.S. market by commercializing precision medical services for companion animals.

After touring the company's research facilities and listening to the challenges faced in commercializing technological capabilities in the global market, Vice Minister Noh stated, "We will strive to provide policy support so that companies with innovative technologies, like ImpriMed, can fully demonstrate their capabilities on the global stage."