Google Campus Seoul is a co-working space for startups in Korea. They announced their plan to help push these startups into the global market. That is one of the biggest obstacles for Korean startups, going global. Global expansion programs that will help with global marketing, new business models, diversity in recruiting, and overseas expansions. One of these programs is called the Campus Residency Program which allows a few startups to use the Google Campus Seoul headquarters for up to six months. This will start in May.
After their six months are up they will have a chance to apply for a longer stay for another six months. So a Korean startup could have free office space for up to a year. During the year they will be allowed to be a part of Google’s Campus Startup School sessions that will help startups get educated on app marketing, cloud computing, and profit model strategies.
Another program from Campus Seoul will be the Campus Experts Summit. This program will invite experts from Google’s global offices to help mentor Korean startups for two weeks. This will help Korean startups with global marketing strategies and advertising to a global market. The program will help support startups based on their needs.
To go global, Google Campus Seoul will first look to expand into Southeast Asia. The transition for Korean startups will be much easier because of the familiar Asian culture as well as the fact that Korea in Asia is looked upon as a hot market. Google Campus Seoul will start by organizing an on-site accelerator program to help with the transition. Add this to the already existing Campus Exchange program, which invites overseas startups interested in the Korean market to Seoul in order to meet the local startups and learn about the Korean startup ecosystem. This form of partnership will be great for both parties looking to expand into a larger market.
Korea has been a market that many countries would love to get into. Set aside the fashion and entertainment aspect of Korea, Korea has booming potential in regards to gaming, media content, healthcare, and fin tech. As more countries get interested in Korea, the easier it will be to help Korean startups go global.