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Introduction To Korea's Technology & Startup Ecosystem - Spring 2016

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A third world nation just 50 years ago, Korea is now the world's 15th biggest economy, a major force in the global tech scene and home to Samsung, the world's top smartphone manufacturer. It is also rapidly emerging as a regional tech hub and startup hotbed as well as an avid consumer of new technology.
But it wasn't always like this.
This Slideshare provides a glimpse into Korea's tech past to explain how the nation has rapidly emerged as a global heavyweight. Then we dive into the startup ecosystem which has been built on top of a world class tech infrastructure and provide clues to what you can expect from Korea in the years to come.

Published in: Technology
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Introduction To Korea's Technology & Startup Ecosystem - Spring 2016

  1. 1. Seoul’s Technology & Startup Ecosystem Nathan Millard, CEO G3 Partners nathan@g3partners.asia / +82 (0)10 87237702
  2. 2. It wasn’t always like this…
  3. 3. Gangnam in the 1950s
  4. 4. Gangnam in 2015
  5. 5. Seoul Metropolitan Area 28M26M Rest of Korea
  6. 6. GDP per capitaSmartphone Penetration E-Commerce Market
  7. 7. Samsung & LG hold 60% m/s while Apple 33% in device market 95 % m/s for Kakaotalk (of 73% smartphone penetration in S. Korea) & 4% for LINE in messenger service (as of Apr.2014)
  8. 8. 68% Revenue from apps plus other digital content comes from games $5.27 Per user per month in gaming Per user per month across all digital content $2.92
  9. 9. Korea’s Startup Ecosystem
  10. 10. Startup Co-working Spaces
  11. 11. Startup Accelerators & Incubators
  12. 12. Startup Events
  13. 13. • Around 1,000 Angels • Seed Investment: KOISRA, DEV Korea, 500 Startups, The Ventures • Series A: Capstone, CCVC, Venture Port, Formation 8, K Cube Ventures, Strong Ventures, Smilegate Investment • Series B: Altos Ventures, CyberAgent Ventures, Softbank Ventures, Qualcomm Ventures, IMM Investment, NeoPlux, Stonebridge Capital, DSC Investment, SL Investment Investors
  14. 14. Investment per stage – Asia
  15. 15. • $12B USD pledged for building “creative economy” • Legitimizing entrepreneurship • Innovation centers in major cities • TIPS program (1:5 & 1:7 matching) Park GeunHye & ‘The Creative Economy’
  16. 16. The Korean Unicorn Club
  17. 17. • IT infra that supports IT development • Quality engineers, with strong work ethic • Leaving corporations & appreciation of risk • Global vision, bigger, better quality ideas • Mentor networks and Angel investors • Government support (money, PR, education, economic diversity) • Exchange of students & ideas (Korea – West) • Korean Americans returning to join startups • Economic conditions that can support entrepreneurship Why The Boom? Why Now?
  18. 18. The ‘Ajuma Factor’ preventing startup growth? “Get a nice job in Samsung and a good wife, son.”
  19. 19. Signs of Success 4:33 Creative Labs
  20. 20. • Maturing platform situation (dominated by 1 – 2 players) • Global competition (hardware, software, services) • Opportunities in IoT & smart home • Korean tech startups & SMEs more determined globally • Korean consumers will lead global mobile trends • Closer relationship with China Everyone Loves a Trend…
  21. 21. Nathan Millard, CEO G3 Partners nathan@G3Partners.asia : +82 (0)10 8723 7702

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