The Born2Global Center and ADB Ventures held an online IR session on March 22 in order to help companies with innovative technologies enter Asia-Pacific markets and attract more investments.

 

ADB Ventures is an arm of the Asian Development Bank (ADB) and is in charge of startup assistance. It is currently expanding its cooperation with impact tech-based startups to better handle development issues in the Asia-Pacific region. Its assistance includes pecuniary aid, investment and technical support for technology and solution transplantation.

 

Five companies were presented at the session, which are expected to be highly successful in the cleantech, agritech, healthcare and fintech sectors of the Asia-Pacific region. Specifically, the five are Griin Agriculture (developing aquaculture and smart farm solutions), Vandalsoft (developing smart farm solutions for edible insect breeding), AIDKorea (developing livestock healthcare solutions), Marine Innovation (developing eco-friendly and reusable packaging products) and Rooteehealth (developing eye fundus examination solutions).

 

“The importance of innovative technologies is continuing to increase with regard to the sustainable growth and development of developing economies,” said Kim Jong-kap, head of the Born2Global Center, adding, “I am convinced that the IR session will be useful for the companies expected to enter and succeed in larger markets.” He also said that the Born2Global Center would keep collaborating with various partners in the public sector, such as the Multilateral Development Bank, for the purposes including technology matching, joint investment and technology transfer via joint ventures.

 



 

If 2020 has taught us anything, it is to expect the unexpected. Through the COVID-19 pandemic, Born2Global Centre has managed to launch PMF (Product-Market-Fit), and Boot-X programs for globalization of deep tech startups, create partnerships with multilateral development banks to boost entrepreneurship in developing countries, and forge joint ventures amongst Korean and international startups for global expansion.

 

What’s next? With these milestones under our belts, we take a look at the interview with Korea’s People Magazine done by Born2Global Centre’s Chief Executive Director JongKap Kim to see what promising plans are ahead for this new year.

 

Born2Global Centre will spearhead the expansion of technological adaptations by taking the lead in linking outstanding domestic technology with international organizations. As the main government agency under the Ministry of Science and ICT that supports deep tech startups, we actively drive growth into the global market. During these prolonged pandemic times, Korean companies are going virtual, and Born2Global Centre will work tirelessly to ease the transition towards usage and accessibility of such platforms.

 

As the head of the organization since 2015, JongKap Kim brings his 20+ years of international experience as a seasoned entrepreneur and advisor into globalizing innovative Korean technology. To this end, Born2Global Centre will further expand our work with international organizations, such as the Inter-American Development Bank (IDB), World Bank, and Green Climate Fund (GCF) in addition to creating new collaborations with the Asian Development Bank (ADB) and African Development Bank (AfDB), among others, to lay the foundation for a solid tech network, stretching over 5 Oceans and 6 continents.

 

Born2Global Centre will be conducting our annual member startup recruitment process in Q1 of 2021 and look forward to meeting more viable startups, who will upon selection be provided with full support for global business readiness. We will focus on meticulously choosing and promoting our member startups, so as to establish Born2Global Centre as the trusted source for cultivation of globally-competent companies. Through Product-Market Fit (PMF) consultations, we verify and develop products based on local market demands in the United States, China, Europe, Southeast Asia, Middle East, Japan, Latin America, and more. Additional support ranges from legal and patent advice to accounting and marketing services.

 

Furthermore, we are currently working on establishing Design Labs and accompanying Lab-to-Market programs that link startups to essential technologies stemming from universities and research institutes, such as the Seoul National University Siheung Campus and KAIST. Moreover, we are building a new platform upon which various tech affiliates can be matched with our global partners and overseas projects to achieve continuous commercialization even - or especially - under these remote circumstances of the pandemic.

 

In essence, Born2Global Centre will resolve to achieve a two-way cooperative international partnership model in creating the best practice for new win-win advancements through joint ventures in global innovation.

 

 

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The Asian Development Bank (ADB) says that Korea’s economic growth this year will be 3.0 percent, according to the ‘Asian Development Outlook 2018’ report published on April 11. (Asian Development Bank)



By Lee Yoonseo and Kim Young Shin

The Asian Development Bank (ADB) predicts that Korea's GDP growth in 2018 will be 3.0 percent, and that the average GDP growth rate for its basket of 45 developing Asian economies will be 6.0 percent, it said in its "Asian Development Outlook 2018" released on April 11. 

According to the report, thanks to growth in world trade after 2017, robust consumer demand, and India’s rebound, the average GDP of Asian countries will see steady growth of 6.0 percent in 2018 and 5.9 percent in 2019. The ADB also pointed out the risks facing Asian economies, such as the possibility of tension over trade, a faster rise in interest rates by the U.S. Federal Reserve, and rising household and nonfinancial corporate debt. 

By subregion, the ADB predicted economic growth in Central Asia to be 4 percent in 2018, in East Asia to be 6 percent and in Southeast Asia to be 5.2 percent. 

Korea is expected to have had a steady growth rate of 3.1 percent in 2017, and then see 3.0 percent growth in 2018 and 2.9 percent in 2019. These are thanks to the economic recovery of its main economic blocs, improved consumer confidence, and expanded consumption due to the PyeongChang 2018 Olympic and Paralympic Winter Games. The report also said that the recent improvements in diplomatic relations between Korea and China would also have a positive influence on Korea’s exports. 

The ADB advised that, although Korea keeps a low and stable inflation rate, it should draft laws that would help the growth of small- and medium-sized corporations, and reform its labor market, in order to ensure continued economic growth and increased employment among young people. 

clo1120@korea.kr




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