NextRise 2024 Concludes in Seoul with Record Participation

NextRise 2024 ● Photo Credit: Korea International Trade Association

SEOUL, South Korea, June 21, 2024, (VSNewsNetwork.com) - The Korea International Trade Association (KITA) and the Korea Development Bank (KDB) hosted NextRise 2024, Seoul at Coex on June 13-14, attracting a record number of participants. The event brought together over 1,500 startups and 250 global enterprises and investors from 26 countries, including Japan, Germany, the United States, and France.

The sixth annual exhibition saw approximately 25,000 visitors over two days. The event featured 3,600 business meetings, the largest of their kind in Asia, between 220 global companies and investors and 1,200 startups. KITA facilitated these meetings by matching startups with international corporations and investors based on the startups’ technological capabilities and the needs of the global entities.

Alexa Ríos, Head of Innovation at Maersk, who participated in the event, remarked, "Meeting with Korean startups that possess innovative technologies and ideas has provided opportunities to strengthen Maersk's business strategy." Youngjoon Kim, CEO of Pablo Air, a drone solution startup, added, "This exhibition allowed us to discuss practical business cooperation with global companies that understand our technological potential."

The event also focused on strengthening cooperation with Japan, the guest country for this year. The Japan Innovation Pavilion, managed by the Japan External Trade Organization (JETRO), included 10 Japanese startups and hosted investment relation demo days and forums. Additionally, KITA and the Japan Association of Corporate Executives held the Korea-Japan Open Innovation Summit to discuss expanding innovation cooperation between the startup ecosystems of Korea and Japan.

NextRise 2024 included conferences on global startup trends such as artificial intelligence (AI) and mobility. Keynote speaker Ilya Strebulaev, a professor at Stanford University, noted, "With the easing of regulations on corporate venture capital (CVC) establishment, the proportion of CVC in total venture capital investment in Korea has risen to 30%. Long-term investment management is needed to foster innovative investments." The mobility session saw participation from companies like BMW, Renault, Volvo, and Hyundai Motors, discussing startup cooperation and investment strategies. The AI session explored the latest trends in AI technology and its applications across industries.

At the NextRise Awards ceremony, digital therapeutics developer WELT and AI image and video recognition technology company Deeping Source won the Top Innovator awards. Additionally, 25 companies from Japan, Israel, Singapore, and Türkiye received innovation awards.

KITA used the event to discuss potential cooperation and strengthen relationships with global partners. The association signed a memorandum of understanding with AsiaBerlin, a startup support organization, and exchanged views with Lief Lindner, CEO of IFA, on cooperation between NextRise and IFA. KITA also hosted partner events with startup support organizations and companies from various countries, including France, the United States, and Taiwan, to provide networking opportunities and support the global expansion of Korean startups.

Inho Lee, Vice Chairman of KITA, commented, "NextRise 2024, held at a record scale, serves as a gathering place for startups leading innovation and change, providing a platform for corporate exchanges and networking. KITA will continue to strengthen its role in expanding overseas opportunities for startup technologies and products, which are the new growth drivers of our trade."

For more details on NextRise 2024, visit www.nextrise.com.

Source: Korea International Trade Association via Newswire