Gyeonggi Innovation Center-Alchemist Supports Korean Startups' North American Entry

## Gyeonggi Center for Creative Economy & Innovation Partners with Silicon Valley's 'Alchemist' to Accelerate Korean Startups' Global Leap The Gyeonggi Center for Creative Economy & Innovation (hereinafter referred to as Gyeonggi CCEI) established a strong global partnership on June 13 by signing a strategic business agreement with 'Alchemist,' Silicon Valley's top B2B accelerator, to accelerate the entry of Korean startups into the North American market. Sponsored by global tech giants such as Google, Microsoft, and Cisco, Alchemist is a bona fide Silicon Valley success guarantor, having successfully nurtured over 750 B2B startups and attracted more than $4.5 billion (approximately 6 trillion KRW) in follow-on investments over the past decade. Notably, over 70 of its incubated companies have led to mergers and acquisitions (M&A), proving its capabilities. This agreement encompasses comprehensive cooperation across four core areas: startup discovery and program linkage, joint investment and acceleration, co-operation of global programs, and mutual ecosystem exchange. Both organizations plan to widely discover not only domestic startups but also those founded by Korean entrepreneurs residing in North America, and will undertake joint investments in startups with verified global expansion potential. Furthermore, by mutually connecting their extensive networks of experts and investors, both sides will support mentoring and practical market entry. They also plan to expand startup exchange between Korea and the U.S. by operating various joint programs such as demo days, roadshows, and pitching events in both countries. In particular, Gyeonggi CCEI aims to actively support the entry of Alchemist's international portfolio companies into Korea, thereby promoting the mutual development of the Korea-U.S. startup ecosystem and leading the true globalization of the Korean startup ecosystem. Kim Won-kyung, CEO of Gyeonggi CCEI, emphasized, "The combination of Alchemist's B2B acceleration expertise, which has proven its startup success formula in Silicon Valley for 10 years, and Gyeonggi CCEI's capability to link government support programs, has completed an optimal support model that allows Korean startups to strengthen both their technological capabilities and global business competencies simultaneously," expressing anticipation for the synergy of this collaboration. Gyeonggi CCEI, as the global strategic hub for national Centers for Creative Economy & Innovation, is steadily expanding its international partnerships in this manner, playing a pivotal role as a global growth platform for Korean startups and a gateway for foreign startups entering Korea.