11 Korean Startups Eye Indian Market Entry

Korean startups are embarking on an unprecedented challenge, targeting the immense potential market of India, the world's fifth-largest economy. The Ministry of SMEs and Startups (MSS) and the Korea Institute of Startup & Entrepreneurship Development (KISED) announced that they will participate in 'Startup Mahakumbh 2025', a large-scale startup exhibition to be held in New Delhi, India, starting April 3rd, along with 11 promising domestic startups. This significant collaboration was realized by an active proposal from India's Ministry of Commerce and Industry at last year's 'COMEUP 2024' event in Korea. 'Startup Mahakumbh', organized by the Federation of Indian Chambers of Commerce & Industry (FICCI), will be held for the second time this year. Last year's inaugural event saw significant participation from high-ranking government officials, including Prime Minister Narendra Modi, and attracted over 1,300 exhibiting companies and more than 48,000 visitors, imprinting the dynamism of India's startup ecosystem on the world. The 2025 event, themed 'Startup India@2047 - Unlocking Bharat's New Chapter', is expected to involve approximately 3,000 companies, 2,000 investors, and 50,000 visitors, representing India's ambitious national vision to become a global startup hub by its 100th year of independence in 2047. In fact, India has three cities – Bengaluru (21st), Delhi (24th), and Mumbai (37th) – entering the top 40 of the 'Startup Genome' global rankings, and is recognized as one of the world's most dynamic startup ecosystems, possessing over 100 unicorn companies, the third-highest number after the United States and China. In March, KISED carefully selected 11 companies with excellent global expansion readiness and growth potential. These companies underwent preliminary capacity-building programs, including exhibition marketing strategy development, local market and cultural education, and business matching demand surveys. During the exhibition, the 'K-Startup Pavilion' will promote the technological prowess of Korean startups and provide on-site close support for securing partners and business consultations. Among the participating companies, 'REFEED', a specialized collection company for certified pure waste cooking oil, has already completed establishing an Indian corporation and will use this exhibition to secure potential clients such as local refiners and oil companies. 'Tesser', an AI solution company for hospitals, has also launched a mobile app in India, securing approximately 45,000 users, and plans to focus on discovering local partners for technology verification. Korean startups in various advanced fields such as artificial intelligence, renewable energy, and smart cities will seek cooperation opportunities with Indian companies and showcase their technological capabilities. Yu Jong-pil, President of KISED, emphasized that "India is a strategic market with a rapidly growing economy and an influx of global capital," and expressed his ambition to "lay a solid foundation for promising domestic startups to successfully take root in the Indian market, which has previously been entered mainly by large corporations." Participation in 'Startup Mahakumbh 2025' is expected to be a crucial stepping stone for Korean startups to seize the immense opportunities in India and leap onto the global stage.