[한겨레] “스타트업 해외 연결 조인트벤처 만들 것”

Hangyerae Newspaper
Yoon, Young-Mi
2016.03.22. 20:16

“We will establish joint venture that connects startups to international investors”

“Instead of a large sized fund for our investments, we will connect individual startups
with the foreign investors, creating joint ventures. These joint ventures will in turn
attract additional investments and drive foreign investments into Korean startups.” said
Mr. Yigal Erlich, the chairman of Yozma Group, during his commencement speech on
his investment plans for Korean startups.

Yozma group is an Israel based global venture capital fund and Yozma Campus is its
start up support program where it acts as the incubator for startups, nurturing growth of
Korean startups and their expansion overseas. “Our goal is to initially developing
Yozma Campus to realize success locally and ultimately developing into the hub for
Asian startups.” said Mr. Erlich.

There are already numerous companies that are looking into a visible world market
entry out of 20 startups in which Yozma Korea invested after its establishment early last
year. “JWNest, a content developer based on virtual reality, has recently set up a
partnership with Samsung Electronics and is ready to go global. Standard Graphene, the
manufacturer of the best graphene in the world, is researching/developing applications
of the material in aerospace, automobiles, medical and numerous other sectors. Foreign
investors are expressing great interests in these two companies.” said Mr. Erlich.

Mr. Erlich has also commented that Korea is an attractive investment destination within
Asia where international investors are showing high interests. “There exists a large
number of companies in Korea with exceptional technological advancements and there
is a good chance of products and services proven successful in Korean market being
successful in Asain market with the ever growing appeal of Korean cultures abroad”

Mr. Erlich has also highlighted how certain changes in Korean government and people
are needed for the growth of venture ecosystem. “Korean government’s requirement for
its institutions supporting startups to come up with visible results has resulted in an
environment where these institutions are pursuing short term results rather than the long
term supports startups need.” he said. Mr. Erlich advised that patience is critical element
for a full realization of a startup’s potentials.

View original article here.

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