We are introducing the Accelerator Company A based on Korea’s center Daejeon, which selects and supports innovative startups with the potential to enter the global market. Company A is an accelerator that grows together with personal training customized to the company, beyond just investment to the company hoping that it will grow on its own. Here, it co-organized this online exhibition to actively support the company through marketing strategies tailored to the rapidly changing situation.
Company A, which co-organized MIK Hot Spot (Made in Korea Online Exhibition) Daejeon/Sejong, hopes that its supporting companies meet buyers and investors. AVING News, the host of the online exhibition, met CEO Cho Byung-hyun from Company A for the interview.
What led you to participate in this online IR?
Due to the COVID-19 incident, we prepared for the online IR event to participate in social distancing. Of course, due to the nature of the online event, the liveliness and communication power that comes from offline events may be diminished,
But to create the opportunity to promote investment, sales, and global market entry to more people without having to gather the investors and journalists who would normally gather physically in the demo day, we prepared this event that uses online as the means and corporate IR videos.
What are the criteria for selecting the companies for support?
To tell you the criteria for selecting startups that we prefer, we select the companies located in the Daejeon area since we have the base camp in Daejeon.
Also, we are performing accelerating activities and investing to social venture companies that are working on solving local and social problems. But, we are not just selecting social companies just because we said a social venture company. We are supporting the companies that have profit models and business models that can sustain growth as a company.
Thirdly, we are selecting and investing the companies based on their potential for global entry and global capabilities. We are making selections and investments by giving priority to the global competency and mindset of the team members, and items that can be sufficiently localized in the global market.
Words on the expectations for online IR
We decided to conduct our online IR under the judgment that it is timely to present our support companies to you online. We believe that this event of publicizing the companies online triggered by the coronavirus outbreak will not be an alternative, but will be a major trend in the future.
Online marketing is taking more roles these days due to the COVID-19 issue. Since the limitation on the offline activities is applied to the companies as well as the investors and buyers, many are looking for company information online. In this day and age, online convention has transformed itself from being an alternative to the main trend. In particular, it is expected that the “video” that delivers company information will play the role of a company’s “SFO (Store, Factory, Office)” at the final point of communication.
For this, the global news network AVING News has begun holding the MIK Hot Spot (Made in Korea Online Exhibition) to help small and medium-sized companies enter the market and attract investment on April 9, 365 days a year. Already, more than 90% of AVING’s main subscribers are clients of companies, such as buyers, consumers, and investors who search for specific products and company information. AVING News contents are surely ‘”SOF (Store, Office, Factory)” by itself, making it a very attractive exhibition hall in that sense.
AVING News has been running online exhibitions since 2005 and had 975 online exhibitions so far. Its YouTube online exhibition has placed itself as Korea’s largest online exhibition hall that opens 365 days a year with 19,000 videos (booths) with more than 800,000 visits per month which means more than 10 million visits per year.
Based on the accumulated online and offline network, the MIK Hot Spot online exhibition is scheduled to be held regularly according to the field, target market, and participating institutions, and it will be presented as a new type of online business by transforming the know-hows and values of the participating companies according to the trend. Companies that want to participate can apply and apply through the marketing support projects from supporting institutions in the local governments. Refer to the institutions for more information.