arirang news

Korea steps up efforts to support ventures in Silicon Valley Updated: 2018-04-16 12:11:40 KST

Photoshop maker Adobe has signed an MOU with Korea to provide smaller companies with a range of technologies and to give outstanding individuals job opportunities.

"Small businesses have an opportunity to really lead the experienced journey for their customers in this marketplace. So I think that Korea is very well situated in terms of its market leadership."

This company, which has developed a detailed touch technology, received support from the Korean government during its first two years.

"During our trial and error phase, we were able to utilize the infrastructure at the support center."

The support center in Silicon Valley is run by the Korea Trade-Investment Promotion Agency.

"First, we provide offices. Second, we offer consultations concerning marketing information and research, investment and accounting."

Korea Innovation Center was launched in 2015 in Silicon Valley to foster startups.
Over the course of a year, the companies go through a 4-step process of goals, outcomes and feedback.
As a result a total of 13 startups have achieved a combined profit and investment of 48 million U.S. dollars.

"Our goals are to foster Korea's tech-focused ventures and small giants in Silicon Valley, and to cultivate Korea's venture system to meet local market needs."

These programs are expected to help young scientists enter the ever changing market.
Ko Roon-hee, Arirang News.
Reporter :
KOGL : Korea Open Government License
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