This article was contributed by our content partner Invest KOREA’s blog, privateequitykorea.com.
This article from “The Seoul Kyungjae”, a local financial paper describes two new podcasts covering the Korean startup and venture capital world. The podcasts, “Jjol Tu” an abbreviation for the Korean phrase “Don’t be afraid, just invest” and “Venture Yaseol”, or “Venture Bedtime Stories”, are part of the newest wave of startups and investors moving into the social networking, mobile gaming, and multimedia boom started by the arrival of the iPhone in Korea. Check out our translation here:
“Try to make the rounds with a business plan. The way things are in Korea now makes it difficult to get investment in this way. It’s easier to just get a loan from the Korea Technology Finance Corporation and spend your time on R&D instead.” (Venture Bedtime Stories, Episode 3)
“I will invest 2.5 billion won (into Digitalfrog, a mobile game company), the highest investment anybody has asked for on this show” (Don’t Be Scared, Just Invest, Episode 6)
Podcasts such as “Venture Bedtime Stories” and, “Don’t Be Afraid, Just Invest” which target startup companies and are modeled on the popular political podcast, “Naneun Ggomsuda,” are making a splash.
Venture capitalists and those in the startup world are helping startups and their founders by using these self-made podcasts to act as mentors. Despite still being in the early stages, “Venture Bedtime Stories” and “Don’t Be Afraid, Just Invest” are ranked first and fifth respectively in the business podcast category.
“Venture Bedtime Stories” is an audio podcast mainly run by startup entrepreneurs, like Park Young Wook, CEO of Blogcocktail and Kim Hyun Jin, the CEO of Reign D. The show features open discussion between a diverse mix of guests such as investment analysts and journalists that are involved in the startup world.
The show shares real stories about investment promotion, getting seed money and foreign investment. In particular, the show is praised for providing practical help to startups because it features real stories that can be difficult to discuss in forums like lectures or in the media.
Mr. Kim said “I started the podcasts after many people came to me to ask for advice about setting up a company. I hope this practical information will help them reduce the amount of trial and error.
“Don’t Be Afraid, Just Invest” is a video podcasts with a talk-show like format. Lee Yong Jin CEO of SoriWeb, Futurestream Netwoks COO Hong Jun, and Yang Seok Won the CEO of group work space, Co-Up are involved in planning the show. They are all experienced in startup business from their backgrounds working at companies like NHN and Cyworld.
The show is hosted by Matthew Lee, managing partner at IDG Ventures Korea and Song Eun Kang, general partner at Capstone Partners. Every episode, a new startup company appears and talks with the hosts about their business and the hosts rate the company on its investment potential.
Hong, of Futurestream Netwoks explained that “I remember having to repeat the same things 30 times to receive investment. So I designed this podcast to inform many investors about my company at once.”
In one case an appearance on “Don’t be Afraid, Just Invest” led to an actual investment. After the program, Lee decided to invest 1 billion won in a start-up company. According to Lee, “By watching the program, you can learn what types of questions VCs like to ask,” and he emphasized that, “The goal of the program is to help startups succeed in investment promotion.”