Connecting with Taiwanese investors online… Busan Creative Economy expands opportunities for startups' global expansion

The methods of domestic startups expanding globally are also changing. Moving away from support programs centered on overseas exhibitions or on-site visits, online platforms that connect with global investors are establishing themselves as a new alternative. This is seen as increasing accessibility for early-stage startups, as it allows them to directly verify business potential with overseas investors while reducing the burden of time and costs.

The Busan Center for Creative Economy Innovation (CCEJ) operated the 'Global Online Office Hours (Taiwan)' in collaboration with 886 Studios, a Taiwanese venture capital firm and accelerator, to explore overseas expansion and global investment opportunities for domestic startups. The program took place from the 21st to the 22nd.

886 Studios is a venture capital firm and accelerator based in Taipei, Taiwan. In partnership with global venture capital firm Lifelike Capital, it operates the early-stage startup incubation program 'Ikigai Launchpad,' providing selected companies with $100,000 in investment, mentoring, connections with global investors, and workspace in Taipei.

This program was organized by combining online seminars and one-on-one meetups to enable domestic startups to connect with overseas investment institutions and refine their strategies for entering global markets. It is designed to allow companies to introduce their technologies and services to global partners and discuss potential investment and acceleration program participation without having to visit overseas in person.

Fourteen domestic startups participated in the online seminar. The participating companies received information on Taiwan's startup ecosystem, 886 Studios' investment direction, and global support programs. Among them, 10 companies introduced their technologies, business models, and plans for overseas expansion through individual meetups, and discussed the possibility of participating in global investment and acceleration programs.

Taking this program as an opportunity, the Busan Creative Economy Innovation Center plans to support follow-up cooperation between participating companies and 886 Studios, while also continuously expanding its cooperation network with overseas investment institutions and startup support organizations, including those in Taiwan.

Online-based global open innovation programs are expanding their scope of use as a new channel for local startups to connect with overseas investors, overcoming geographical limitations. They are also expected to provide early-stage companies preparing to enter overseas markets with more realistic opportunities for global validation.