APEC Startup Alliance Officially Launched
Over 400 organizations join, strengthening cross-member startup ecosystem collaboration
- •APEC Startup Alliance (ASTAA) officially launched on the 20th in Seoul.
- •Over 400 organizations are participating to facilitate information exchange and cooperation among startup ecosystems across member nations.
- •The alliance will advance sustainable cooperation through online platform development and regular forum operations.
APEC Startup Alliance Officially Launches
The Ministry of SMEs and Startups (Minister Han Seong-sook) held the official launch ceremony of the APEC Startup Alliance (ASTAA) on the 20th at the Startup Venture Campus Seoul (SVC Seoul) in Mapo District, Seoul. The event brought together official delegations from APEC's 21 member economies and key stakeholders from national startup ecosystems. ASTAA was established to connect and expand cooperation among startup ecosystems across APEC members, formalizing the follow-up to the 'Jeju Initiative' announced at last year's mid-term APEC ministerial meeting.
Strengthening Innovation Ecosystem Linkages Across Member Countries
ASTAA includes approximately 400 organizations and private stakeholders from across member nations, such as the Korea Startup Forum, national startup associations, government agencies, accelerators (AC), venture capital (VC) firms, and startup companies. These members will exchange information on startup innovation policies and ecosystem developments, promote voluntary collaboration and joint project development among private network participants, and share ASTAA’s operational experiences and cooperation outcomes through major international events. The alliance aims to continuously expand cooperation among APEC members.
Key Initiatives and Platform Development
Under member consensus, ASTAA will advance three core initiatives: ▲ building a network among startup ecosystem stakeholders across APEC members, ▲ holding regular forums, and ▲ establishing an online platform for sharing startup ecosystem information. These measures are designed to strengthen sustained exchange and cooperation among startup ecosystems across APEC nations. In particular, initiatives including global investor relations (IR) events, 1:1 matchmaking sessions, and startup technology valuation-based guarantee counseling, involving Korea Venture Investment, the Korea Startup Promotion Agency, the Korea Technology Guarantee Fund, global venture capital (VC) firms, large corporations, and startups from various countries, are being implemented to enhance practical cooperation in global investment attraction, business partner (collaboration company) matching, and regional market entry support.
Minister's Expectations and Future Plans
Minister Han Seong-sook stated at the launch ceremony, "I expect innovations emerging from startup ecosystems connected through the APEC Startup Alliance to evolve into broader cooperation and shared growth." ASTAA will discuss pathways for cross-member startup ecosystem linkage and cooperation during its first forum. Moving forward, the alliance plans to establish a sustainable cooperation framework through regular forums and online platform operations.
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