5 Reasons You Should Apply To Rainmaking Expand: South Korea
Companies who apply to the Rainmaking Expand: South Korea program will have the opportunity to be part of a unique and new generation of accelerator programs which focus on customised, modular support for companies looking to enter the South Korean market. Discover the 5 reasons you should apply to the program.
1. Rainmaking Expand is a customised, modular program
In contrast to the traditional accelerator programmes that focus on education, mentoring and pitch preparation, Rainmaking Expand offers customised, modular program plans for each company that are designed to maximise commercial outcomes.
We do not believe in one-size-fits-all in this program! This means that every company that joins our program will receive specialised support to cater to their specific situation and unique needs for market expansion. You can learn more about how we can support you at the interview stage of the applications.
2. South Korea is rapidly growing, creating opportunities for all companies both nationally and internationally
Despite the pandemic, South Korea has demonstrated a growth rate of 4%, with many indicators showing the growth is to remain robust through 2022 and 2023. Under the Korea New Deal, the government is also investing $133bn to accelerate the transition towards a digital and green economy. This rapid growth and abundant funding is ready to be tapped into by companies entering the market and expanding their businesses in South Korea.
South Korea has also produced 17 unicorns and topped the Bloomberg Innovation Index for seven of the nine years that it has been published. This gives evidence to the rich innovation hub which is open to international companies and the culture of conglomerates are enthusiastically working with startups in a variety of ways, including partnerships, equity investments and M&A.
Furthermore, South Korea acts as a launchpad for accessing 2 billion tech-savvy potential customers throughout key Asian markets, making it an ideal location for companies to enter and expand.
3. South Korea is a major trend & tech testbed, with various initiatives to support foreign startups
Consumer trend-sensitivity and strong purchasing power makes South Korea an ideal market for global brands wanting to test and refine new products and technologies, giving rise to the idea that where the “Korean-wave” goes, the rest of the world follows. Furthering this driving force, South Korea also has a variety of initiatives and opportunities in place, allowing startups to take advantage of this market and expand further. They have opened the commercial pathways, and the Rainmaking Expand team is here to help you navigate it and accelerate your time to market.
4. The program has a strong network of South Korean and market expansion experts supported by expert sessions as needed throughout the program
Our team of experts and advisor network spans markets and sectors in order to offer support in areas such as business development, experiments, PoC design, opportunity assessment and much more. Through the Rainmaking Expand program, companies will have the opportunity to tap into these networks and find the ideal advisors to support your market entry.
Companies will be able to attend expert sessions as needed throughout the program to supplement key elements in design your market entry plan and launching your approach to new potential customers. Topics include culture, communication, lead generation, sales, marketing, legal and corporate relationships.
5. The program takes no-equity and focuses on commercial opportunities through a semi-remote, flexible program
In order to allow companies to expand quickly and effectively, the program takes no-equity and focuses instead on business development by leveraging genuine commercial opportunities with in the South Korean market.
Companies who join the Rainmaking Expand: South Korea program can benefit from a semi-remote program, which fully prepares you before spending a few weeks within South Korea. Our semi-remote format and flexible schedule allows companies to continue running their own businesses without impacting their output. Also, the flexible schedule allows you to postpone your entry into South Korea until the leads and opportunities are ready for you to act up on.
Startups and SMEs interested in entering the South Korean market can contact us to learn more about our South Korea program and the application process.