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Buzzpole signed a business agreement (MOU) with the Korea Medical Devices Association Indonesia Center for cooperation in entering the local market
The Korea International Trade Association (Chairman Kim Young-joo) announced that it held the ‘2019 K-Startup Global Mentoring Program’ in Jakarta, Indonesia from the 9th to the
12th of July.
The program is a bilateral exchange and cooperation project for the globalization of domestic manufacturing and tech startups, with local accelerators and venture capitals
participating in large numbers.
In Korea, a total of 15 companies, including five manufacturing, bio, and medical start-ups selected by the Korea International Trade Association, including Buzzpole, Monit Korea, and Ngenbio, participated, drawing great attention from Indonesian buyers and investors.
During the event, various programs were held, such as seminars on startups' entry into Indonesia, one-on-one expert mentoring, buyer matching consultations, and visits to
Pukarapak, an Indonesian unicorn company.
At the Demo Day contest on the 11th, Ngenbio, which developed anti-cancer genetic testing devices among Korean companies, was selected as the first place. Buzzpole, which has an artificial intelligence (AI) and image processing-based remote diagnosis solution for cervical cancer, signed a memorandum of understanding (MOU) with the Korea Medical Devices Association Indonesia Center for cooperation in entering the local market.
Young-joon Kim, head of the Jakarta branch of the Korea International Trade Association, said, "Recently, with the start-up craze blowing in Indonesia, various support programs are
underway. We will continue to support excellent Korean startups so that they can actively enter the Indonesian and Southeast Asian markets.”
The program was co-hosted by the Ministry of Science and ICT, the Ministry of Culture, Sports and Tourism, and the Creative Economy Council of Indonesia, and supervised by the
International Trade Association, Korea Contents Agency, and Internet Promotion Agency.
Currently, Indonesia is emerging as an attractive market for global venture capitalists as the government launches the ‘1,000 Startup Fostering Project’ and local unicorn companies
such as Gojek, Tokopedia, Trebloka, and Bukarapak are increasing.
2019.07.14 / etNews / Reporter Myunghee Kim
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