[IFA 2023] K-Small and Medium Enterprises and Startups Forge Global Expansion Gateway Beyond Europe

The IFA 2023, held from September 1 to 5 in Berlin, Germany, marks the first major international technology showcase since the transition to an endemic phase. This year's event is set to offer significant opportunities for South Korean small and medium enterprises (SMEs) and startups aiming to expand globally.

 

According to the Korean-German Chamber of Commerce, a total of 174 Korean companies are participating in IFA 2023, with over 160 of these being SMEs. These companies are using the platform to present their innovative solutions and establish a foothold in global markets.

 

Among the first-time participants is Ripple, showcasing its environmentally friendly solutions, including a plastic-degrading microorganism technology. This year, IFA has introduced a Sustainability Pavilion, providing Ripple with an opportunity to promote its eco-friendly technology on an international stage.

 

In the rapidly growing field of digital healthcare, several Korean startups are making their debut at IFA 2023. Notable among them is Hippo T&C, presenting its AI-based ADHD diagnostic solution, along with Lutonix (scalp care devices), Avis (cancer prognosis prediction platform), and MTG (medical video utilization platform), all of which are targeting global customers.

 

The robotics sector is also well-represented by Korean startups. Supernova is showcasing the 'Hunnit Barista,' an AI modular robotic arm, while AI Control introduces a coding education robot equipped with five sensors and three output devices.

 

Local governments are actively supporting these innovation-driven startups. Regional tech parks and innovation centers, such as Jeonbuk Techno Park (10 companies), Daejeon Techno Park (5 companies), Gyeongbuk Software Promotion Agency (4 companies), and Busan Creative Economy Innovation Center (3 companies), have selected and supported local startups for IFA 2023. These companies are set to display their expertise in 3D printing, extended reality (XR), metaverse, and artificial intelligence (AI) on a global stage.

 

In addition to exhibitions, various side events are planned to support global market entry and investment. The Korea International Trade Association will host the '2023 IFA Next Global Challenge,' featuring business consultations and pitching events. During this period, 100 Korean companies will have one-on-one meetings with 30 leading global companies to discuss potential collaborations.

 

A representative from the Korean-German Chamber of Commerce remarked, “IFA 2023 is showcasing a diverse range of products, from traditional home appliances to AI platforms, digital healthcare, and robotics. This event offers a valuable opportunity for SMEs, which have faced challenges due to the COVID-19 pandemic, to engage in active business discussions and explore new global opportunities.”

 

 

source : https://www.etnews.com/20230831000257