The Ministry of SMEs and Startups will create a human network to help Koreans living abroad start th..

The Ministry of SMEs and Startups will create a human network to help Koreans living abroad start their own businesses.

The Ministry of SMEs and Startups announced on the 24th (local time) that it will hold a "K-Founders Connect in Silicon Valley" event at Silicon Valley Startup and Venture Campus to promote exchanges between Korean entrepreneurs working abroad.

At this event, the "Everyone's Start-up Global Project" project will be announced and the launch ceremony of the "K Founder Fund" for overseas founders will be held. More than 70 people will attend the event, including Noh Yong-seok, the first vice minister of the Ministry of SMEs and Startups, overseas Koreans, international students, Korean VCs and officials from start-up support organizations.

This event will be held to expand the 'everyone's start-up' project conducted in Korea overseas. The Ministry of SMEs and Startups selects a total of 80 promising prospective entrepreneurs and entrepreneurs from four regions, including Silicon Valley, New York, Singapore, and India, to support on- and off-line mentoring and customized childcare, and provides cost for start-up activities. Mentors helping start overseas will include senior Korean entrepreneurs and local investors, including Lee Jung-hee, CEO of Primer USA, Oh Seon-ho, co-founder of Osteojin Tech, Kim Joo-yoon, CEO of Dot, and Lee Seung-hoon, CEO of Ringle.

At the event, a K-Founder fund will also be launched to support senior entrepreneurs from overseas to discover and grow junior entrepreneurs. The K-Founder Fund is the first overseas Korean fund created by the government in cooperation with senior entrepreneurs and investors through the parent fund, and will be raised to more than 100 billion won.

Kim Dong-shin, CEO of Sandbird, Silicon Valley's first Korean B2B unicorn company, said, "In addition to fund management, we will support domestic startups to enter the global market stably through networking and corporate investment briefing sessions linked to Korean communities such as UKF."

Roh Yong-seok, the first vice minister of the Ministry of SMEs and Startups, said, "It is meaningful that we have prepared a customized support system for start-up talent working overseas through the global project for everyone's start-ups. We will create a virtuous cycle structure that supports Koreans to boldly challenge start-ups overseas as well and connects the experiences of Korean entrepreneurs and investors with the challenges of new entrepreneurs."