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The Number of Startups Established by The Highly Educated is on the Rise in S. Korea
Same Level as Silicon Valley
The Number of Startups Established by The Highly Educated is on the Rise in S. Korea
  • By Cho Jin-young
  • November 21, 2016, 02:15
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The ratio of South Korean firms established by those with a masters or doctorate degree increased from 18% to 35% between 2014 and this year.
The ratio of South Korean firms established by those with a masters or doctorate degree increased from 18% to 35% between 2014 and this year.

 

The Korea Startup Ecosystem Forum announced on November 16 that the ratio of South Korean firms established by those with a masters or doctorate degree increased from 18% to 35% between 2014 and this year. For reference, the ratio was 40% in the Silicon Valley in 2014.

“This increase in the ratio of startups set up by highly educated people implies that startups are attracting more and more young bloods based on their better awareness,” said Startup Alliance director Lee Ki-dae. K-ICT Born2Global Center head Kim Jong-kap echoed by saying, “Highly educated engineers and technicians constitute a very important part in startup value assessment and the increase in the ratio means that South Korean startups have been significantly improved in terms of technological strength.”

Investment in one-year-old and younger startups is on the increase as well. According to the forum, the number of investments in such startups increased 73% within the past two years and that of investments in two- and three-year-old startups increased 81%, too.

The Korea Startup Ecosystem Forum was established in March this year by the K-ICT Born2Global Center, Google Campus Seoul, the National IT Industry Promotion Agency and the Startup Alliance. The purpose of the Korea Startup Ecosystem Forum is to let the world know about the development and growth of startup ecosystems in South Korea.