Korea Startup Forum and VivaTech Forge Partnership during the Viva Technology 2023.
Why it matters: The Korea Startup Forum (KSF) from South Korea and Viva Technology (VivaTech), two influential bodies in the global startup ecosystem, have signed a Memorandum of Understanding (MOU) to increase connectivity and collaboration between South Korean and French startups.
This move marks an important step towards international market penetration for startups from both countries.
The Key Points:
- KSF and VivaTech announced their partnership on June 15. Key representatives Josh Choi from COMEUP HQ and Francois Bitouzet from VivaTech spearheaded the deal.
- Launched in 2016, VivaTech is a French startup festival expected to attract 90,000 participants from 149 countries in 2022, highlighting its global reach and impact.
- The MOU aims to strengthen the Asian and European startup scenes, potentially helping Korean investors tap into European markets and vice versa.
The Big Picture: The KSF-VivaTech partnership underscores a broader trend of increasing global connectivity within the startup ecosystem.
COMEUP 2023, the international startup festival organized by KSF and scheduled for November, aims to introduce participants to the innovative French startup ecosystem.
It also dovetails with VivaTech's "Country of the Year" initiative, which recognized South Korea for 2023.
The increased interaction between the two startup festivals could foster an exchange of innovative ideas, technological advancements, and market penetration strategies, with implications for startups, investors, and venture capitalists in both regions.