Eight Startups Work to Overcome the Challenges of Market Entry Through the Rainmaking Expand: South Korea Program
This quarter, eight startups from different industries in Singapore are tackling challenges to enter South Korea through the customised, commercially-focused program Rainmaking Expand: South Korea in order to improve their market entry success rate.
Singapore, 26 May, 2022 – On 10 May, 2022, eight startups selected to join the Rainmaking Expand: South Korea program—operated by Rainmaking Innovation—began their journey to ramp up their businesses to get ready for entering the South Korean market. The program is divided into two tracks, with the first half focusing on evaluating the best potential route into South Korea and preparing for market entry, while the second half, which starts in August, focuses on targeted business matching and introductions in South Korea in order to build partnerships and proof-of-concepts for future success.
The startups in the program are all at the stage for market expansion, and are working to increase their success in a new market by preparing themselves through the Rainmaking Expand: South Korea program. This program utilises Rainmaking Innovation ’s experience with market entry programs to design a customised agenda for each startup on the program to reach their full potential.
Startups around the world are starting to reach the limits of their own markets, and are seeking a global expansion. For the Asian market, South Korea is in an ideal position economically and geographically for startups to launch themselves into larger markets. The startups in the Rainmaking Expand program have recognised this, and are seizing this opportunity to expand their businesses through this strategic program model.
The following startups are working on their market expansion through the program:
BeLive Technology is an interactive live video solutions company. Businesses can broadcast real-time interactive live shopping, live trivia and live virtual gifting video directly on their website or mobile apps with BeLive’s easy integrated solutions.
BeLive Technology is entering the South Korean market to enable South Korean businesses to provide high quality and cost efficient live streaming services to their customers and provide solutions in the live-streaming and live-shopping space.
Intellect is a mental health platform with a mission to make mental health support radically more accessible, preventative & relatable, and stigma-free for companies and individuals across Asia.
Intellect is entering the South Korean market to better understand the mental health tech ecosystem in South Korea and to support companies who are looking to address the growing mental health needs of their employees.
Luwjistik is a Unified API Platform which allows their clients in logistics to connect and expand their network through a single API integration, while having full control of their supply chain on a single platform.
Luwjistik is entering the South Korean market to gain an in-depth understanding of the ecosystem and connect with partners who could offer first-mile, customs imports and last-mile services on their platform to existing and new customers.
Merkle Science is the next generation crypto threat detection, risk management and compliance for businesses, banks and government agencies.
Merkle Science is entering the South Korean market to build an understanding of the local market and provide their expertise and solutions to regulators, financial institutions, crypto natives and fintech companies.
Nodis smart glass film instantly switches window colour, tint and infrared heating, for comfort and sustainability; enabling 50% less energy and CO2 to be used.
Nodis is entering the South Korean market to enable leading smart glass companies and building owners to provide top of the range solutions and reduce CO2 emissions from buildings to address global warming.
Smart Tradzt provides supply chain visibility, resilience and optimisation to enable smooth supply chain operations and streamline supply chain costs.
Smart Tradzt is entering the South Korean market to identify and to work with suitable local partners, such as Systems Integrators with the right network and implementation capabilities.
Umami Meats are cultivating the future of sustainable seafood by crafting delicious, nutritious, and affordable cultivated fish that is better for our health, our oceans, and our future.
Umami Meats is entering the South Korean market to reach some of the largest seafood markets in the world and make an impact on the global seafood supply chain. They believe that South Korea is vital for their global goals.
What3words is a global addressing solution company, which provides a precise and incredibly simple way to talk about location.
What3Words is entering the South Korean market to navigate the market and assist delivery-focused companies with location solutions and helping people navigate with ease and accuracy.
Thomas King, Program Director at Rainmaking Expand: South Korea, said:
“Rainmaking accelerators go beyond startup education and mentoring. We know that in an increasingly competitive global landscape, it’s the fundamentals of a business that really count, so our programs are all about generating meaningful commercial outcomes. We have some really exciting businesses participating in our first cycle from a variety of different industries. The nature of the South Korean market means it is an attractive expansion target for the companies in our program, all of whom have developed genuinely cutting edge technologies. That’s because other regional markets don’t have the appetite or the know-how for adopting and implementing such advanced innovations, whereas South Korea has this in spades.”
The Rainmaking Expand: South Korea program will be running continuously for the next three years to enable companies who are looking to expand outside of their current geography and enter the South Korean market. Those interested in further news about the program can follow Rainmaking Expand on LinkedIn, or visit their website.
About Rainmaking Expand
Rainmaking Expand is a new generation of accelerator programs created by Rainmaking Innovation. The programs focus on helping startups enter new markets through a personalised structure focusing on commercial outcomes, which enables them to access customised support, regardless of their maturity or industrial sector.
The Rainmaking Expand: South Korea program is supported by Enterprise Singapore and focuses on enabling Singapore-based startups and SMEs to enter the South Korean market. The program runs over 4 months, divided into two tracks. The first track focuses on evaluating the best potential route into South Korea and preparing for market entry, while the second track focuses on targeted business matching and introductions in South Korea in order to build partnerships and proof-of-concepts for future success.
For more information on Rainmaking Expand: South Korea, please contact us.