The fifth edition of TIPS & beSUCCESS Korean Startup Showcase Silicon Valley co-hosted with Korea Business Angels Association and Cuvee April was held successfully from October 11 to October 13, in San Francisco and Palo Alto, with 15 Korean tech startups gaining a perspective to enter the global market.
The 15 participating Korean tech startups in the fifth edition of the program got to have mentoring sessions with top-tier VCs and investors in Silicon Valley and the opportunity to network and present their products and services to prospective funders. The startup teams that participated were Gadget Korea, Blinkers, TissenBioFarm, Gomi Corporation, Noutecompany, inDJ, Ad-Shield, Aurum Care Management, Kinava, LooKo, MoveAWheel, PMX, PuzzleData, Testbank, and Tart.
On October 11, the startups had a mentoring session with Andrew Chalas, Revere VC and Troy Foster from Perkins Coie. The session was conducted at the global law firm Perkins Cole’s office in San Francisco. The mentors provided critical feedback to participating startups regarding their pitches and presentations prepared for VCs and investors in Silicon Valley.
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On October 12, a mentoring session was organized with Weichang Ge, a senior analyst for the HAX program of the global, multi-stage venture capital firm SOSV. The session at SOSV’s San Francisco office helped the startups better understand the US market and international expansion strategies.
Also, on the same day, the startups had their first Demo Day, where they presented their pitches to VCs and investors at the global law firm O’Melveny & Myers LLP office in San Francisco. The startups presented their services and products to the VCs and answered their questions regarding business models, revenue, marketing, expansion, regulations, etc.
On October 13, the tech startups had a mentoring session with Dr. Sue Xu, the Managing Partner at AMINO Capital at Stanford University Campus. Dr. Sue Xu gave valuable insights and in-depth suggestions to the startups regarding their pitches and improving their services.
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The startups had their second Demo Day pitching on October 13 at O’Melveny & Myers LLP office in Menlo Park, Silicon Valley. The startups pitched to an audience of prominent Venture Capitalists and Investors in Silicon Valley and got networking opportunities. An interaction session with a successful startup founder was also organized on the same day. Ray Hong, CEO and Co-founder of the successful startup Allo (BeeCanvas), a collaborative workspace tool, shared his firm’s success story.
At the end of the fifth edition of TIPSX beSUCCESS Korean Startup Showcase 2022, the participating Korean tech startups got the experience of a lifetime as they got mentoring from leading VCs, interactions with a successful startup founder, networking opportunities, one-on-one meetings and final pitching round demo days with potential investors and funders. The VCs, investors and other participants also expressed their excitement to be part of the TIPS & beSUCCESS Korean Startup Showcase Silicon Valley fifth edition of 2022.
TIPS is South Korea’s leading startup accelerator, and beSUCCESS is one of South Korea’s oldest startup media companies which connects the Korean startup ecosystem to global markets through its media websites, events and accelerator programs. The TIPSX beSUCCESS Korean Startup Showcase is an annual event.
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In an Effort to Enter the U.S. Market, a Group of Korean Sports Startups Participated in a Startup Bootcamp/Demo Day Event in Silicon Valley
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(SUNNYVALE, CALIF.) -- As the sports industry continues to seek out innovative new technology to enhance the future of athletic competition, five Korean sports startups took the opportunity to prominently feature their products in front of potential investors in the United States.
During the week of Monday, February 17th through Friday, the 21st, VentureNest Partners and Daedeok Innopolis Venture Association hosted five Korean companies at the SVI Hub in Sunnyvale, California for a week of hands-on training culminating in the Sports Startup Demo Day. The five teams, jointly selected by the Ministry of Culture, Sports and Tourism, National Sports Promotion Agency, Daejeon Metropolitan City, and Daejeon Techno Park, began the process in Daejeon, South Korea, but arrived in Silicon Valley with plans for eventual global expansion of their products and services.
Each company’s presentation materials were prepared in English in advance of the event, and personalized mentoring was given to every group to help them finalize their business models and seamlessly pitch their products and solutions in English.
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“We spent a lot of time helping the participating companies validate their business models and with localization of their products and solutions tailored to the U.S. market, ” comments VentureNest Partners Founder & CEO Stephanie Son. “In order for us to help the participating companies overcome the language barrier, pitch scripts were simplified so that the deep technologies of participating companies were translated into simple English.”
The goal of the event was for each of the five participating companies to understand the dynamics of the U.S. market and properly pitch their respective products to Silicon Valley venture capitalist firms and angel investors, a process that features unique differences when compared to the procedure in Korea.
With an opportunity for these groups to improve the sports tech industry across this rapidly expanding platform, each participating group also received specific feedback from a team of mentors throughout the bootcamp period and an immensely qualified panel of judges made up of angel investors and venture capital firm representatives.
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During the weeklong bootcamp each company was expertly trained to improve their ability to read the U.S. market dynamics, an essential key to potential expansion into the country. The company leaders were also given some insight into establishing a global profile as well as how to improve their ability to pitch their products and solutions on both a local and global scale.
“I am glad that the participating companies attract attention from the investment community in Silicon Valley through this bootcamp and I am looking forward to the successful global expansion of today’s participants, ” said Chris Yang, Deputy General Manager at Daedeok Innopolis Venture Association.
Dreamsponsor – An online platform that focuses on helping aspiring professional and amateur sports players transition to and maintain a high level of play by promoting the enjoyment of sports through sponsorships and donations. DreamSponsor started the company after seeing amateurs with professional hobbies quit because of a variety of barriers. In an effort to support athletes through crowdfunding, the company has decided to create an audition platform to fund amateurs who can perform beyond their peers. DreamSponsor is planning to provide an open beta service in Korea and the U.S. this year, targeted towards American football.
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Runstar – A company that develops and services products related to marathons and running. They are oriented towards social enterprises, offering running and marathon accessories for disabled and non-disabled athletes alike. Runstar announced that it will build a voice-based running aid that provides running information by voice, such as how far and how fast you are running using Bluetooth earphones. Aimed at the U.S. market, where jogging culture for health is developed, Runstar aims to solve the inconvenience that runners have when using applications with existing smartphones.
Secuworks – A pioneer that’s developing the world’s first look at a technology called ‘Sound Field Sensors’, providing intrusion and fire-detection solutions. Their new technology looks to solve the issue of quicker response times in the event of a fire in sports facilities. Secuworks' solution is to take a reflection and analyze it when the speaker emits sound. The speed of the reflections is used to detect minute temperature changes quicker than other available technology. Our product is able to work because of the way the speed of sound increases or slows down depending on the temperature, ” said Ju Cheol Lee, CEO of Secuworks. Secuworks is scheduled to begin mass production this year.
TL-Industries – A company that combines easily approachable leisure activities and everyday sports with virtual reality technology to create and promote a new and unique badminton experience, called ‘SmashingZon.’ The TL-Industry team showcased a vision to attach a sensor to a badminton shuttlecock so that users can recognize whether they hit it properly. When this technology is implemented, a system will be created that will allow the badminton learners to shuttle themselves properly and improve technique. With three stores currently operating in Korea, this team now hopes to enhance the badminton experience across the globe. TL-Industries hopes to expand to other sports in the near future such as screen golf and screen baseball, which have both received massive attention in Korea.
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StandingToll – Korea’s emerging 3D-printed brace-making company dedicated to the research, development, and manufacture of braces. Their brace, ‘Flexpine’, focuses on a simple elimination of hard and
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