[Platum] Overseas Expansion Accelerating Program in Indonesia and Vietnam

Domestic startups are solidifying their entry into Southeast Asia.
The Bucheon Cluster of the Gyeonggi Contents Agency (Director Oh Chang-hee) held the 'G-START E' program in Jakarta, Indonesia and Hanoi, Vietnam from January 20th to 26th. The 'G-START E' overseas expansion accelerating program is a project that selects 10 promising startups located in Gyeonggi Province by the Gyeonggi Contents Agency and supports their global expansion.
This program was operated by Shift., an accelerator specializing in Southeast Asia, with cooperation from major local institutions in Vietnam and Indonesia such as Campus-K, TOPICA Founder Institute, and Market Navigator.
The participating companies totaled 10. Three companies—Idea Concert, Style Seller, and Moon Studio—participated in the Indonesian program, while seven companies—Human TalkTalk, Newco Adwind, Wiki Box, Trida, Alumer, Chuse Your Model, and Emotionwave—participated in the Vietnam program.
The participating companies stayed locally for a week and gained insights into the local market based on expert lectures in various fields such as investment, accounting, and law. Additionally, they received feedback on their business ideas from investors and startup stakeholders through a demo day.
In particular, startups that participated in the Indonesian program held a total of 11 meetings with major venture capital firms in Jakarta as well as local companies in the fields of e-commerce, logistics, and media platforms tailored to each company's business model. These companies are discussing partnerships with local businesses for follow-up work. Startups participating in the Vietnam program also conducted a total of 25 one-on-one meetings, including app testing and partnership discussions.
Some companies showcased about 10 multilingual educational smart pens and publishing contents, and are actively planning to establish local subsidiaries with Campus-K.
A representative from Shift said, “We hope that the accelerator program through Shift helped the startups understand the Southeast Asian market and establish strategic entry plans,” adding, “We plan to design various programs so that more Korean companies do not feel afraid of entering the Southeast Asian market in the future.”
Kim Tae-ho, CEO of CampusK, who was in charge of the Vietnam program, emphasized, “Korean startups are excellent in technology and business model completeness, and UX, but they often face difficulties in initial settlement because they do not accurately read and localize for local Vietnamese customer needs. It is important to establish a systematic and strategic entry plan by meeting experts and reliable partners from the beginning.”
An official from the Gyeonggi Contents Agency said, “We hope that the G-START E program will serve as a bridgehead for domestic startups entering overseas markets,” adding, “We will support the activation of cooperation between overseas government startup programs and the Gyeonggi Contents Agency in the future.”

G-START E Participating Companies: 10 companies

• 1 / Vietnam / HumanTalkTalk / Kim Cheol-yong / Platform (Education) / Educational smart pen and publishing content distribution that can simultaneously listen to up to one foreign language with multilingual native speaker voices.
• 2 / Vietnam / Newco Adwind / Jang Min-woo / Advertising / An ICT convergence-based smart delivery box where the name of the mutual store automatically changes according to the orderer.
• 3 / Vietnam / WikiBox / Kim Gyu-seong, Jung Eui-sin / IoT (Logistics) / A solution for distributing unmanned parcel lockers as a platform. Plans include integrating services such as laundry parcel sending, dawn delivery, and unmanned smart mailboxes.
• 4 / Vietnam / Trida / Jang Ji-ung / Smart Content (Education) / Mobile service for Korean language education targeting foreigners. Allows learning real-life Korean through role-playing and pronunciation correction functions.
• 5 / Vietnam / Alumor / Lee Eun-ho / Platform (E-commerce) / A beauty and fashion related network sales platform that can be used by women all over the world.
• 6 / Vietnam / Choose Your Model / Lee Joong-seok / Platform (Visual Content Production) / A platform where customers can shoot images they want by only shipping products, without having to go to an overseas location themselves.
• 7 / Vietnam / Emotionwave / Rio Jang / Artificial Intelligence, Robotics, Music / New music technology combining AI music services and IOT automatic playing modules for acoustic instruments.
• 8 / Indonesia / Idea Concert / For Delivery / Webtoons, Video / A technology that can separate specific images such as photos or comics and visualize them in three dimensions or video format.
• 9 / Indonesia / Style Seller / Ahn Seong-guk / Platform (E-commerce) / A global K-culture product sales platform that helps sell Korean products easily in foreign local markets.
• 10 / Indonesia / Moon Studio / Park Jae-sung / IoT (Medical) / A medical culture product that applies India's traditional healing medicine 'Chakra Theory' to a heat coin patch.

Article original text: https://platum.kr/archives/115569