MSS Hosts ‘2024 Korea-Africa Youth Startup Forum’ to Foster Collaboration and Exchange
Reading Time: 2 minutesThe Ministry of SMEs and Startups (MSS) in Korea organized the “2024 Korea-Africa Youth Startup Forum” on the 5th, coinciding with the Korea-Africa Summit. The forum aimed to facilitate policy and information exchanges between startups from both regions. It drew approximately 200 participants including African leaders, bureaucrats, representatives from public institutions, academia, and startups from both domestic and international spheres.
Kim Yeounki, Chairman of the Korea-Africa Foundation, highlighted in his opening remarks, “With over two-thirds of its population under 30, Africa is a youthful continent where innovative and creative ideas are addressing a variety of social issues, driven by the entrepreneurial spirit of its youth. This forum represents a significant opportunity for stakeholders within the Korean and African startup ecosystems to come together and forge strategies for future collaboration.”
Oh Giwoong, Vice Minister of the MSS, expressed in his keynote address, “There is a need to embrace new ways of collaboration with Africa, a continent rich with innovation and growth potential. The MSS is committed to providing more opportunities for Korean innovative technology startups to collaborate and grow with African companies, thereby contributing to the expansion of local startup ecosystems.”
During Session 1 titled “Sharing Korea-Africa Startup Policies!”, the discussion included Algeria’s key youth startup support policies, the Youth Entrepreneurship School in Uganda sponsored by MSS, and KAIST’s development project in Konza Technopolis, Kenya, aimed at cultivating advanced scientific and technological talent and nurturing the startup ecosystem.
Session 2, “Korea-Africa Startups: Discussing Secrets of Success”, featured successful case studies from Bode Abifarin, the founding COO of the African fintech unicorn Flutterwave, Jin Yuhah, CEO of the Korean startup TELLA, and Jang Seong-eun, CEO of YOLK.
In the final session, “Discussing Korea-Africa Startup Investment Trends”, Jeon Hwaseong, CEO of CNTTech and Chairman of the Korea Accelerators Association, noted, “Korea provides a developed startup ecosystem and infrastructure that serves as an ideal gateway for African startups into the Asian market. Particularly, the ‘K-Startup Grand Challenge’ is an accelerator program designed to help foreign startups establish themselves in Korea.” He also encouraged African startups to participate in the program and affirmed a commitment to nurturing those looking to enter the Korean market.
[Korean Startup Going global News]
- Seoul AI Startups Partner with MILA-Quebec to Accelerate Global Market Expansion
- Seoul Launches CORE100 Initiative to Attract Global Investors to Promising Companies
- MSS Holds Roundtable on Support for Startups Expanding into Japan
- MSS Hosts Korea-Latin America Forum to Boost Mutual Growth and Cooperation
- SOL Bio Partners with Jinan Lab to Expand into China and Exchange Exosome Tech
- Bigbang Angels Joins Korea-UAE Business Investment Forum to Expand Startup Opportunities
- MSS and KISED, “Korean Startups Achieve Significant Milestones at VIVA TECH 2024”
- Seoul Opens K-Beauty Pop-Up Store in Dubai to Support SMEs to Expand into Middle Eastern Markets
- Korea-Japan Joint Venture Fund of USD 100 Million Officially Launched in Tokyo
- T’order Raises Over KRW 30 Billion in Series B, Valued at KRW 300 Billion, Expanding Globally
