Google's 7-Year Initiative: Fostering 660 Companies and ₩177.2 Billion Investment Results

Google Play successfully hosted the '2025 Changgu Alumni Day' on the 29th, in collaboration with the Ministry of SMEs and Startups (MSS) and the Korea Institute of Startup & Entrepreneurship Development (KISED), once again reaffirming the Changgu program's status as a successful public-private cooperation model. Approximately 400 attendees, including current 7th-batch participants, alumni startups of the Changgu program, and industry officials, gathered for networking and to share their future visions. Oh Young-ju, Minister of SMEs and Startups, emphasized in her congratulatory speech that the Changgu program is "the most successful public-private cooperation model" for supporting startup growth over the past seven years. She further stated that the government would support the entire process of corporate growth, including technology development, founding, talent nurturing, funding, and global expansion. The Changgu program, which began in 2019, has supported a total of 660 startups to date, with participating developers accumulating 177.2 billion won in investment attraction from 2019 to 2024. Notably, the 6th-batch participants of Changgu achieved remarkable results during the program period, including a combined revenue increase of over 60% and an export increase of approximately 130%. The AI portal service 'Wrtn' secured a Series B investment of 108 billion won, while 'Merge Camp' by 'High Score Games' recorded growth of over six times in downloads and more than double in revenue. Karen Tee, Vice President of Platforms & Devices Partnerships for Google Asia Pacific, highlighted the outstanding global capabilities of Korean developers in her welcoming address. She emphasized that 49% of Korean developers have expanded into overseas markets, and Korean developer apps were downloaded a total of 1.5 billion times on Google Play overseas in 2024 alone, making Korea the country with the third-highest number of active developers on Google Play. Tim Chae, Managing Partner at 500 Global, predicted in his keynote speech that the advancement of AI technology would lead to an explosion in the number of software products. He advised startups to adopt an AI-centric approach and rapid execution speed as key performance indicators. During the panel talk, CEOs of Changgu alumni companies, including Lee Sung-pa of Ringle, Choi Jae-won of Game Duo, and Kim Jin-woo of Liner, shared their strategies for global expansion and AI utilization. The importance of AI technology was further highlighted at this event. Among the 100 startups selected for Changgu's 7th batch this year, 46% have adopted AI technology, which is more than a threefold increase compared to the 5th batch selection in 2023. Lee Sung-pa, CEO of Ringle, emphasized, "Applying AI appropriately based on customer understanding is key to gaining traction in the market." The event also featured VC office hour sessions for participating startups to develop investment attraction strategies and foster growth, where representatives from major venture capital firms like 500 Global and Goodwater Capital engaged in in-depth business discussions with startups. Shin Kyung-ja, Head of Platforms & Devices Marketing for Google Asia Pacific, announced that the Global Immersion Program to support developers' overseas expansion would be expanded to the US this year. She also revealed plans to launch and operate 'Changgu AI Study Jam' to strengthen AI technology support, signaling the program's continuous development and global expansion.