SMBC Launches Startup Support System in Silicon Valley, USA

Korea Startup Center Opens
at the Startup Venture Campus of the Ministry of SMEs and Startups

The Small and Medium Business Corporation announced on January 13 that it has opened the 'K-Startup Center (KSC) Silicon Valley' to support domestic startups in entering the US market and expanding exports.

KSC Silicon Valley, which opened on January 9 (local time) at the Startup Venture Campus (SVC) of the Ministry of SMEs and Startups, is the sixth KSC established by the Small and Medium Business Corporation. The center plans to provide tailored support for startups at each stage of growth, including offering office space, expert mentoring, local specialized programs, and investment networking for startups entering the local market.

After the business agreement between the Small and Medium Business Corporation and StartX, Janghyuk Park, Executive Director of Global Growth at the Small and Medium Business Corporation (left), is taking a commemorative photo. Small and Medium Business Corporation

After the opening ceremony, the center hosted a session to share the achievements of 20 resident companies in their local expansion, as well as a technology demo day and networking event. Among the resident companies, XenosCube secured a major investment commitment from a local investor on that day, raising expectations for the local expansion of resident startups. The Small and Medium Business Corporation plans to support the resident companies with its Silicon Valley programs, including technology validation, marketing, and investment attraction.

The Small and Medium Business Corporation also signed a memorandum of understanding (MOU) with the accelerator 'StartX' in Silicon Valley, USA, on January 8. StartX is a startup accelerator established by founders from Stanford University. Through this agreement, the Small and Medium Business Corporation will collaborate on local specialized programs, facilitate IR pitching sessions to introduce outstanding companies, and connect startups to StartX's regular programs.

The main points of the agreement include: organizing networking events between startups entering the local market and Stanford alumni companies; establishing a collaborative system for accelerating local startups; and linking support programs between the two organizations for promising startups.

Janghyuk Park, Executive Director of Global Growth at the Small and Medium Business Corporation, stated, "KSC Silicon Valley will serve as a platform to lead the scaling up, investment connections, and technological cooperation of domestic startups," adding, "We will work together with not only local organizations but also global companies to create successful stories of Korean startups entering the US market."