KOTEC to Deepen Ties with U.S. Investors, Support Startups’ Overseas Expansion

[Financial News] The Korea Technology Finance Corporation (KOTEC) is setting out to build a network of local venture capital (VC) firms and experts in Silicon Valley to help Korean startups attract investment from the United States and enter the market. 
According to industry sources on the 3rd, KOTEC held Silicon Valley Partners Day on the 2nd (local time) at Startup Venture Campus (SVC) in Menlo Park, California, in partnership with the Consulate General of the Republic of Korea in San Francisco. About 70 people, including local VCs, accelerators (ACs) and university representatives, attended to discuss ways to support Korean companies’ expansion into the United States.
KOTEC also shared plans for the December Unicorn Bridge Global Investor Relations (IR) event and the direction of its global support programs for next year. In particular, it plans to form local expert groups in three areas—technology and management innovation, fundraising, and market entry—to provide tailored advice to participating companies. It will share company information with investors in advance and arrange one-on-one consultations based on their areas of interest and investment stages.
Unicorn Bridge is a KOTEC program that supports promising innovative companies in attracting investment overseas and entering new markets. It is open to companies that have attracted at least KRW 5 billion in venture investment over the past five years and either have a valuation of at least KRW 100 billion or have completed the Ministry of SMEs and Startups’ Tech Incubator Program for Startup Korea (TIPS) or Super-Gap Startup Project. 
This year, six companies were selected in fields such as fandom platforms and artificial intelligence (AI) marketing, rare-disease therapeutics, and construction equipment automation. They are scheduled to take part in the global IR event in December and meet with local investors.
KOTEC plans to further strengthen cooperation with local investment institutions and experts following the event. In particular, it intends to expand its support to industries with strong growth potential in the U.S. market next year. It plans to work with local universities and specialized institutions to explore ways to validate markets and develop commercialization plans for Korean ventures and startups in fields seeing growing global demand, such as K-beauty and K-food. 
“Close cooperation with local investors and experts is important for Unicorn Bridge to lead to tangible investment attraction and expanded business opportunities in the United States,” said Lee Jong-hyeok, an executive director at KOTEC. “We will further strengthen our local partnership network and expand the scope of support for K-ventures and startups seeking to enter the U.S. market.”  
[email protected] Lee Ju-mi Reporter