Learning from Korean Startups
Columbia University MBA students and faculty members visited the Dream Plus Gangnam, a start-up training center established by Hanwha Life Insurance on March 13.
This visit was made possible as Columbia Business School, which selected Hanhwa Life's Dream Plus Gangnam as an example of Korea's open innovation. Professors and MBA students visited Dream Plus Gangnam to listen to the strategy of Hanwha Life's Dream Plus business and talk with representatives of companies in the center.
According to Hanwha Life, participants showed a big interest in a system where start-ups, large corporations and investors are organically connected. Dream Plus Gangnam has a structure that allows start-ups, large corporations, and venture capital firms in various sectors to immediately apply start-ups’ ideas to business.
There was also a focus on start-ups’ strategies for overseas expansion and feasibility. Participants asked representatives of start-ups considering entering the overseas market, such as "Centbe" and "Luxrobo" practical questions such as difficulties in overseas market advancement processes and the burden of regulations on them.
"We are planning to fully support start-up companies through Dream Plus,” said Hwang Seung-jun, the head of the Digital Innovation Office of Hanhwa Life. “We will find the possibilities and opportunities of various open innovation and become a hub to connect start-up ecosystems."