In 2022 the Korean scaleup economy continued on a sustainable growth trajectory, that is typical of an increasingly mature innovation ecosystem, and Q1 2023 made no exception. According to the data collected by Mind the Bridge with the support of KITA and Crunchbase included in the “Tech Scaleup South Korea Report 2023”, South Korea appears to be on track to establish itself as a regional and global AI tech leader, due to the high density of AI scaleups, structured government support, adequate programs to foster local talent, and availability of dedicated data infrastructures.
In the world of M&A, the distinction between known unknowns and unknown unknowns becomes apparent when acquiring established companies versus startups. While established companies come with known uncertainties based on historical performance, startups operate in the realm of unknown possibilities. Valuing startups proves challenging as traditional metrics and multiples may not apply.
Getting quick wins should be the first goal of a Venture Client unit. Once have built your internal reputation, you can raise the bar both in terms of (innovation) impact and (required) commitment from the business. Alberto Onetti provides 5 Golden Rules of a solid Venture Client.