Startup

Korea Startup Forum to Execute AfDB's Startup Project, Linking with COMEUP Event

by Philip Lee

Updated September 02, 2024

SEOUL, South Korea—The Korea Startup Forum announced on Monday that it has been selected to execute the African Development Bank's (AfDB) 'Africa Tech Startup Forum 2024' project.

Korea Startup Forum, which organizes the global startup festival COMEUP, will leverage the event to expand startup ecosystem partnerships between South Korea and Africa.

The project, funded by the Korea-Africa Foundation, aims to nurture African startups and support their training in South Korea.

It also seeks to connect African startups with South Korean venture capitalists and corporations.

Korea Startup Forum won the project in December by forming a consortium with South African business consulting firms Catalyze and Ndarama Works.

The forum has initially selected 160 startups from eight African countries.

It will participate in accelerating and evaluating these startups over four months to select 20 final teams for participation in COMEUP 2024.

Selected startups will receive benefits during COMEUP 2024, including special booths, pitching opportunities, networking sessions, and meetings with Korean investors and companies.

Josh Choi, Executive Director of COMEUP, said the Korea Startup Forum will promote South Korea's entrepreneurship culture and ecosystem growth expertise to Africa, facilitating exchanges through COMEUP.

COMEUP 2024 is scheduled for December 11-12 in Seoul. It aims to expand global startup participation and introduce new program formats.