Government to Support Domestic Content Startups, Expand Globally with Startup:CON

Lee Seung-kyu, executive vice president of The Pinkfong Company, speaks during the Startup:CON content startup boost 2022 event at the COEX convention center in Seoul, October 25, 2022.

By Baek Byung-yeul

The government will hold an event called Startup:CON this month to support the development of emerging domestic content startups, including their entry into global markets. The Ministry of Culture, Sports and Tourism announced Friday that the event will bring together investors, experts and content creators.

Co-organized by the Ministry of Culture and the Korea Creative Content Agency (KOCCA), Startup:CON aims to support content startups and celebrates its 10th anniversary this year.

The photo shows the poster for this year’s Startup:CON, an event promoting content startups, organized by the Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency, which will take place in Seoul on September 26-27. Courtesy of the Ministry of Culture, Sports and Tourism

The event brings together Korean and foreign early-stage companies, investors, content experts, and creators to explore and share directions for growth and global expansion. This year’s event will be held at Space Wadiz in Seongsu-dong, eastern Seoul, on September 26 and 27.

On the first day of the event, eight content startups will compete in the Battle Field, an audition for overseas expansion for early-stage companies with a total prize of 100 million won ($75,210). The business models of these finalists will be evaluated, and the top three will be awarded during the competition.

During the KNOCK demo day on the second day, participating companies will have the opportunity to consult on investment with domestic and foreign buyers. Companies discovered by KNOCK partners, consisting of content industry investors, and KOCCA will hold investment briefings, and outstanding companies will receive a total of 70 million won ($52,650) in prizes.

“Ten excellent companies from various fields, including dramas, webtoons (online comics), stories, characters, immersive performances, music technology, fandom enterprises and educational entertainment, will compete to attract investors,” the ministry said.

Additionally, during the event, participating companies and creators will have the opportunity to participate in conferences where they will share their knowledge on global expansion and investment strategies with domestic and international content industry experts, as well as business meetings with buyers, including 30 investment firms from countries such as the United States and Singapore.

“As the only global content event in the country, Startup:CON has played a significant role in serving as a bridge connecting early-stage startups with global content experts and investors,” said Yune Yang-su, director of the Content Policy Office of the Ministry of Culture. “This year, as we celebrate our 10th anniversary by inviting the largest number of foreign investors and leading companies, we will spare no effort to help more K-content startups go global.”