Google, in collaboration with the Ministry of SMEs and Startups and the Korea Institute of
Startup & Entrepreneurship Development, has announced a new initiative to bolster the international reach of Korean startups, with a particular emphasis on the burgeoning AI sector. As part of the Chang-Gu Program Season 7, Google plans to support 660 startups, building on a foundation that has already attracted a cumulative investment of 177.2 billion won.
Karen Tio, Vice President of Google Asia-Pacific Platform & Devices Partnerships, highlighted Korea's leadership in AI creativity and technology during the Chang-Gu Program Season 7 Media Roundtable held at Google Korea's Seoul office. She noted that 46% of the startups selected for this season are AI companies, a significant increase from previous years, and emphasized Google's commitment to fostering the next generation of innovation.
In a demonstration of the program's impact, the combined sales of 100 companies from Season 6 surged by over 60% to 51.5 billion won from May to December of the previous year. Tio stated that this growth is not merely numerical but indicates the expansion and global market entry of Korean talent and companies.
As part of their international strategy, Google will send select Season 7 startups to the United States through the Global Immersion Program, which is designed to aid in overseas market penetration. Participating startups such as JamJam Therapeutics, Munis, and iKlo are optimistic about leveraging this opportunity to broaden their networks and explore new markets.
The program's focus on AI reflects Google's strategy to prioritize sectors with high growth potential, ensuring that Korean startups can capitalize on their technological strengths in a competitive global landscape.
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