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Global IT Giants to Transplant ‘Silicon Valley DNA’ into Korean Startups
Catching Two Birds with One Stone
Global IT Giants to Transplant ‘Silicon Valley DNA’ into Korean Startups
  • By Cho Jin-young
  • May 30, 2016, 03:30
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Global IT companies believe that their businesses can be reinforced by Korean startups when they implant “innovative mind of Silicon Valley” into startups.
Global IT companies believe that their businesses can be reinforced by Korean startups when they implant “innovative mind of Silicon Valley” into startups.

 

Global information technology (IT) giants are transplanting “success DNA” of Silicon Valley into domestic startups in earnest.

This is because global IT companies believe that their businesses can be reinforced by Korean startups when they implant “innovative mind of Silicon Valley” into startups. As the Korean government has increased policy support and investment in order to activate the startup ecosystem, the Millennial generation, those born after 1980 who were the first to grow up with computers and the Internet in their homes, are seeking to found a startup. Moreover, it is part of their long term strategy to take future customers since startups with innovative mind can be potential customers of them. 

According to industry sources on May 27, Google Campus is set to run a new program called “Google Global Expert Week,” in which Google employees with expertise from around the world will be staying at the Seoul campus for two weeks from June 13 to help out hopeful entrepreneurs from sales, marketing and development. Its main goal is to turn startups into ones with the global competitiveness. 

Recently, Microsoft, which was relatively far from the startup ecosystem compared with Google, is also actively promoting startups. The company has run startup support programs, such as Imagine Cup, the world's most prestigious college student technology competition which began in 2002, and Microsoft Ventures which started in 2013. It will also spread Invention Cycle Workshop, which was jointly created by Microsoft Innovation Center and Stanford University in December last year, to startups belonging to the creative economy and innovation centers across the nation. The workshop is designed to help turn an individual’s imagination into entrepreneurship.

SAP SE opened Design & Co-Innovation Center at the AppHaus in Pangyo, Gyeonggi Province. It is the third AppHaus, following SAP headquarters in Germany and Silicon Valle in the U.S. AppHause, which means a research space for creative apps, realizes “design thinking.” In other words, it researches and develops user-centered software and design and accelerate innovation.