Gyeonggi Center for Creative Economy & Innovation
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1 Gyeonggi Center for Creative Economy & Innovation
2 Gyeonggi Center for Creative Economy & Innovation Cooperative partnership among Central / Local Government and KT (Korea Telecom) 8 th establishment among the 18 CCEIs Located in Pangyo Techno Valley in southern part of Seoul SEOUL (City Life) INCHEON (Logistics) CHUNGCHEONGBUK-DO (Bio-Beauty) CHUNGCHEONGNAM-DO (Solar Energy) SEJONG (Smart Agriculure) DAEJEON (ICT) JEOLLABUK-DO (Carbon Fibers) GWANGJU (Automobiles) JEJU (IT Tourism) GANGWON-DO (Big Data) GYEONGGI-DO (Game IoT FinTech) GYEONGSANGBUK-DO (Smart Factory) POHANG (Energy Materials) DAEGU (Electronics Fibers) ULSAN (Shipbuilding) BUSAN (Distribution Films) GYEONGSANGNAM-DO (Smart Devices) JEOLLANAM-DO (Agriculture & Fisheries) established Central Government Local Government + + Conglomerate
3 PAN-GYO Techno Valley Technology industry park with ICT, Games, Biotech, etc ICT-based R&D innovation clusters Startup Ecosystem led by MSIP, Gyeonggi Province and GCCEI 3
4 35 GCCEI staffs supporting 59 startups 3 Business Divisions with 8 business teams supporting 59 startups (as of June, 2016) Total 35 staffs consists of 15 GCCEI employees and 20 assigned from local government (agencies) and KT 21 field experts from Fintech, Law, Finance, Patent, Business mentoring and tech support KT Gov Officials Field Experts
5 GCCEI related Fund Investment Total Creative Economy Fund to date: $100M 30.0 KT- DSC Fund ($M) KT-DSC Creative Economy Startup Fund Total: $28M 20 Portfolio Investment: $13M 9 Investment in GCCEI s batch startups: $7.3M Total Fund Portfolio Investment Investment in GCCEI batch 2. Gyeonggi Superman Fund Total: $16M 10 Portfolio investment: $8.3M 3 Investment in GCCEI s batch startups: $2.8M 3. Guarantee Fund Total: $40M 32 Portfolio Investment: $8.8M 5 Investment in GCCEI s batch startups: $2.7M 4. KT- Gyeonggi-do Startup Fund (new) Total: $16M Gyeoggi Superman Fund 16.0 Total Fund 40 Total Fund Portfolio investment Guarantee Fund Portfolio Investment Investment in GCCEI batch Investment in GCCEI batch
6 GCCEI s Mission & Focus INCUBATE innovative startups and ACCELERATE them to go global Focus on IoT, Fintech, Game and 5G-related startups Global Hub to support startups in 18 CCEIs INCUBATING (Ideation to Business) Working space Business mentoring IP/Patent registration Prototype Development ACCELERATING (Go-to-Market) Global Demo Day Global tradeshow and conferences Business Development Funding / Exit opportunity
7 GCCEI s 5 Projects for Global Hub Global Startup Pre-Acceleration Program DB of startups from all CCEIs Exchange Programs with G-Alliance Network Helper for Globalization -Sherpa- Global tradeshow / Demo Day /Conference Global Bootcamp ( Startup Campus ) 7
8 G-Alliance Network Partnership with global accelerators, VC & government agencies KIC (Korea Innovation Center), Born2Global Storm Ventures, Formation8 (Silicon Valley) Catapult(UK), Orange Fab(France), Telefonica Wayra(Spain)
9 Startupkorea.com StartupKorea.com Startup portal to 326 startups in 18 CCEIs (as of June, 2016) Online biz matching between startups and global VCs and Accelerators 9
10 Participation in K-Startup Grand Challenge Program Make Korea the best hub of startup business in Asia by supporting promising foreign startups to come to Korea and advance into the Asian market
11 GCCEI s focus industries IoT - IoT D.I.Y Lab, 3D Printing Lab - Support commercialization by KT GiGA IoT Testing Center FinTech - One-Stop Service in collaboration with financial institutes (Bank, Credit Card, Insurance, Stock) and the government(fss) FSS: Financial Supervisory Service Game - Support Indie game developers - Collaboration with Gyeonggi Contents Agency(GCA) 5G - 5G Open Innovation Campus
12 Case 1: RippleBuds (Noise Blocking ear buds with an in-ear mic) Successful Crowdfunding over & IndieGoGo PR & Marketing support by GCCEI Business Development opportunity by sponsoring Shanghai KT s investment and purchase of the product Technical support (troubleshooting) by KT R&D K-Champ center office support in Seocho Center (post Business incubation) 12 Meeting with KT Chairman (May, 2016)
13 Case 2: Amadas - Smart Lever Lock Business Development opportunity by sponsoring Barcelona and 4YFN Pre-order from Apple (Apple premium accessory partner) PR & Marketing support by GCCEI KT s investment and purchase of the product K-Champ center office support in Seocho Center (post Business incubation) 13 MWC Booth (Feb, 2016) Meeting with Apple Barcelona (Feb, 2016)
14 Case 3: CarVi Smart Driving Assistant GiGa IoT Alliance member PR & Marketing support by GCCEI Total investment of $6M including $2M by KT 14
15 GCCEI Campus 1 Audition / Demo Day hall VR Demo Room Office space / Co-working space Mobile device lab, IoT Lab, 3D Printing Lab One-Stop Fintech support center Finance / Patent / Legal Support Center 1F 5F
16 GCCEI campus 2 Build an open platform to support startups including accelerators, VCs, mentors Nurture & support startup for sustainable growth and globalization STARTUP CAMPUS (March 22, 2016)
17 Global Bootcamp K-Startup Grand Challenge - Global Startup Competition & Acceleration Program Equipped with co-work space, support center, living facilities and amenities etc.
18 Show Room of Creative Economy Display 35 innovative products from all CCEIs and support for export and investment Video DB on innovative products and new technologies
19 5G Open Innovation Lab Supporting for the vitalization of next-generation mobile communication businesses Accelerating 5G-related Startups
20 GCCEI campus 3 (Post Business Incubation) Post-BI(Business Incubation) infrastructure equipped with office room, co-working space, test beds, etc. Umyeon Center Seocho Center Bundang Center Location : Seoul Seocho-Gu Umyeon-dong KT R&D Center 4 th floorarea : 5,000 sqf Space : 10 offices R&D, Business mentoring with with KT Convergeance Tech Center Location : Seoul Seocho-Gu Bangbae-dong KT DS 1 st floor Area : 3000 sqf Space : 10 offices IT education, tech support with KT DS Location : Gyeonggi Seongnam-si Bundang-gu KT 4 th floorarea : 7000 sqf Space : 20 offices Business acceleration program with GCCEI
21 Collaborative Project with MSIP Inno6 Challenge Program Idea to business transition in 6 month (12 Inno6 startups in Mentoring, BM, IP/Patent, Prototype development support Max $40K financial support (1 st phase) R&D fund matching up to 1:6 (2 nd phase)
22 Collaborative Project with MOTIE Smart Factory Program Smart Factory transformation project for SMB (200 SMB in 2 years) Max $50K financial support to SMB to use Smart Factory solutions Smart Factory systems include ERP, MES, FEMS, PLM, SCM 22
23 Collaborative Project with MOEL Job Matching Program Provide open job positions at startups based in Gyeonggi province Talent resource database for startups Customized job training for employee candidates 23
24 Expectation Virtuous Cycle between Conglomerates and Startups Innovation Efficiency Startups Conglomerates Virtuous Cycle M&A Go-to-Market opportunity for Startup Open Innovation for conglomerates Exit opportunity for Investors
25 Thank You
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