Global Economic Times

The first K-Innovation Mission dispatched to Vietnam! Promote the innovation of small and medium-sized venture companies such as smart manufacturing to the world.: Global Economic Times / Updated : 2024-08-28 22:15:20

Selected as 25 innovative small and medium-sized venture companies including smart manufacturing... Export and local expansion support

▲ Ministry of SMEs and Startups

The Ministry of SMEs and Startups dispatched the K-Innovation Mission to Vietnam for the first time to promote the overseas expansion of innovative small and medium-sized enterprises and venture companies and to promote the innovativeness of Korean companies to the world. The K-Innovation Mission is a new initiative through the ‘Globalization Measures for Small and Medium Venture Companies’ announced by the Ministry of SMEs and Startups in May, and will be held for two days from August 28th to 29th.

Vietnam is Korea's third-largest trading partner and has growth potential based on GDP growth of more than 5% and a population of 100 million, and the Vietnamese government's drive to transition to a digital economy and policies to create a startup ecosystem are contributing to our innovation. It is also a promising country for small and medium-sized venture companies to enter the market.

Accordingly, the Ministry of SMEs and Startups selected Vietnam as the first country to dispatch the K-Innovation Mission, and formed the K-Innovation Mission with 25 promising small and medium-sized venture companies in the fields of smart manufacturing, AI, health tech, and edutech in Vietnam. In particular, this K-Innovation Mission, unlike existing export consultations that only end with a one-time buyer meeting, will promote the innovation of our small and medium-sized venture companies along with the buyer meeting, and help our companies build mid- to long-term business networks in the local area. Focused on doing this.

Looking at the schedule in detail, first, ‘K-INNO Pre-showcase’ was held to promote the innovation of Korean companies and secure corporate awareness using tech influencers. Five Vietnamese tech influencer channels with the highest number of subscribers on TikTok and YouTube participated and filmed and interviewed our company's technology and products for two hours. We plan to continue promoting the company's innovation.

Second, at the opening event, a ‘stage PR’ session was also held where companies participating in the K-Innovation Mission directly introduced their technologies and services to local media and guests. On behalf of the K-Innovation Delegation, Nuvix, S&E Company, and Humanscape made presentations, and in particular, Minister of SMEs and Startups Oh Young-joo went on stage in advance of the company announcement and directly introduced the innovation of our company and directly jumped into sales for our company. did it

Third, we supported ‘K-INNO Delivery Bus (Local Agency Visit Business)’, a program to visit related organizations that is necessary to secure a business network in Vietnam but is difficult to meet for the company itself. Depending on the business field, local organizations were recruited and connected so that companies could directly visit relevant local organizations and promote them.

Smart manufacturing companies visited and consulted with the Vietnam Technology Innovation Agency, and health tech companies visited and consulted with the Vietnam Medical Devices Association. In particular, Humanscape, which had requested Minister Oh Young-joo to arrange a meeting with local medical organizations in Vietnam at a meeting held immediately after the announcement of 'Globalization Measures for Small and Medium Venture Companies' in May, also participated in this K-Innovation Mission and was joined by the Medical Device Association and Medlatec General. We were also able to build a network with hospitals (MEDLATEC).

Fourth, as establishing a cooperative system with the government is important for business expansion in Vietnam, the ‘Overseas Embassies Consultative Group Dinner Meeting’ held on the occasion of Minister Oh Young-joo’s visit to Vietnam, the ‘Korea-Vietnam 1st Ministerial Committee on Small and Medium Ventures’, K-Innovation Mission companies were planned to attend the 'Vietnamese Industry CEO Dinner Hosted by the Vice Minister of Foreign Affairs of Vietnam', providing an opportunity to build a network with key Vietnamese government figures.

Lastly, a meeting was held with local buyers through preliminary matching, and in Vietnam, state-run telecommunications companies 'Viettel Group', 'CMC Global', and state-owned defense company 'HITACO' participated as buyers and asked about cooperation with Korean companies. discussed.

In particular, CNWiders signed an MOU with the construction project of 'MDA' Group, a mid-sized Vietnamese construction company, to provide IoT self-communication network-based smart streetlight solutions required for smart city creation, and Yaho Lab signed a contract with 'KidsOnline', a kindergarten management solution company. 'We signed an MOU with the company to provide after-school class content to 1,200 kindergartens in Vietnam and decided to supply the service starting this year. In addition, Rosetta Tech, which produces AI-based fire and disaster forecasting systems, signed a strategic agreement with ‘KFI’ and decided to enter Vietnam in earnest.

Minister Oh Young-joo said, “The K-Innovation Mission is a new program operated to promote the innovation of our small and medium-sized venture companies to the world and to support companies in expanding their business areas to the global stage.” He added, “Vietnam’s digital economy. In consideration of the economic and social environment such as the transition to technology and high enthusiasm for education, the K-Innovation Mission was formed with smart manufacturing companies, edutech companies, and healthcare companies, so the entry into Vietnam of companies participating in the K-Innovation Mission will benefit both countries. “I will give it to you,” he emphasized.

In addition, he said, "We will continue to do our best to plan programs that take into account the characteristics and environments of each country we operate in so that the dispatch of the K-Innovation Mission can lead to practical results."