Startups should join global ecosystem: Startup Alliance head

Lee Ki-dae, the new head of the Startup Alliance. [Courtesy of Startup Alliance]

Startups will become a new driving force for national economic growth thanks to their organic connections with large corporations and mid-size enterprises, according to Lee Ki-dae, the new head of the Startup Alliance.

“Over the past decade, South Korea’s startup ecosystem has seen significant growth in both quantity and quality,” Lee said, during an interview with Maeil Business Newspaper on Tuesday. “It is now time for startups to not only become a new force in the national economy but also to be integrated into the global ecosystem.”

After assuming office as the head of the Startup Alliance on July 5th, 2024, Lee expressed his ambition to pursue various projects during his tenure. These include enhancing startup ecosystem hubs, providing startup policy data, strengthening the skills of startup employees, and supporting regional startup ecosystems.

“Startup Alliance is celebrating its 10th anniversary this year,” Lee said. “Korea’s startup ecosystem has grown significantly over the past decade, and now is the time to establish itself as a new driving force for national economic growth based on collaboration with large corporations and mid-sized enterprises and to attempt integration into the global ecosystem.”

He added that it is also a time to set policy agendas that “help foster startups that will lead the country’s future and innovative growth, engaging in research activities and sparking social discussions.”

As policy shifts from funding-focused startup nurturing policies to providing various educational opportunities for marginalized ecosystem members, the plan aims to move beyond education for startup executives alone and strengthen the startup ecosystem by offering education suitable for various members.

“Startups should become good workplaces that contribute to employees’ growth. Startups and innovative industries will develop as competent employees emerge from this growth,” Lee said.

He also hopes that creating desired jobs for local youth can help solve the problem of population decline.“I will pursue long-term plans such as establishing and strengthening programs for ecosystem creators such as investors, companies, public agencies, and universities,” he said.

Lee, who graduated from Hanyang University with a degree in electronic engineering, earned a master’s degree in electrical engineering from the State University of New York and also studied at Stanford Graduate School of Business.

Lee founded the headhunting company, Dream Search, and served as a director at Startup Alliance for seven years before heading the Gangwon Center for Creative Economy and Innovation. Startup Alliance, which began in 2013 as the Internet Startup Incubating Alliance with the participation of 47 organizations, was officially launched under its current name in 2014.