Gyeongnam to Boost Startup Ecosystem with GSAT 2025

"Like Reid Hoffman's quote, 'Starting a company is like jumping off a cliff and assembling an airplane on the way down,' entrepreneurship is a brave challenge amidst uncertainty." Gyeongnam Province has dedicated all its efforts to building...

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May 20, 2025 - 00:00

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"Like Reid Hoffman's quote, 'Starting a company is like jumping off a cliff and assembling an airplane on the way down,' entrepreneurship is a brave challenge amidst uncertainty." Gyeongnam Province has dedicated all its efforts to building a robust ecosystem that serves as a strong 'safety net' and 'runway' for these challengers. The culmination of these efforts, the Global Convergence Startup Festival , will be held from the 28th to the 29th at the Changwon Convention Center. This event, embodying the ambition that 'Gyeongnam (Gyeongnam/Growth/Global) leads global technological entrepreneurship (Technology) by converging Science and Art,' will focus on Artificial Intelligence (AI), the driving force of innovation across all industries. Since the 8th popularly elected administration, Gyeongnam Province's startup ecosystem has grown explosively. Since the establishment of a dedicated startup department, the number of funds has surged 2.6 times (from 10 to 26), and their scale has dramatically increased 3.1 times (from 212.2 billion to 661.9 billion won), resulting in 94.8 billion won invested in 128 companies within the province. Furthermore, regional balanced development is being achieved through the creation of three specialized startup hubs: the eastern region (medical bio, content), the western region (aerospace, anti-aging), and the central region (smart manufacturing, defense industry). is a festival that consolidates these achievements. The G-Stage will feature a keynote speech on AI robots by Oliver Tian of the International Federation of Robotics, followed by conferences and talk concerts where world-renowned scholars will present future directions for AI, bio-health, and the overall startup ecosystem. Tangible business outcomes are also anticipated. One-on-one meetups, involving 17 large and medium-sized enterprises and 51 investment firms, will provide high-density collaboration opportunities through prior information exchange. The 20 teams (10 youth, 10 middle-aged and senior) that advanced to the finals of the 'Startup Convergence League,' which saw over 170 teams compete nationwide, will lay the groundwork for investment attraction and growth through fierce competition. Last year's winning team, 'Stemden,' already demonstrated its caliber by securing second place in an international competition in Singapore. A bridgehead for global leaps will also be established. The Global Zone, featuring 24 overseas organizations from 6 countries, including Japan's Station AI and Singapore's ACE, along with 12 overseas startups, will expand opportunities for domestic companies to enter international markets. The 'AI Robot Pavilion,' showcasing Shinseong Delta Tech's 'Senior Care Robot Remi' (recipient of a CES Innovation Award), SLM Co., Ltd.'s 'Underwater Proactive Cleaning Robot Chiro,' and a full-scale model of Gyeongnam-type Advanced Air Vehicle (AAV), will present a feast of future technology. The scope of the event is even wider: over 20 startup support organizations will present 22 programs, and IR (Investor Relations) sessions by major financial and investment institutions will be held. A special cultural content pavilion for indie games and VR/XR experiences, as well as an open live commerce makerspace pavilion, will also be operated. To foster future entrepreneurs, a startup club competition involving 16 universities and 6 middle/high schools will also take place concurrently. Gyeongnam Province plans to continue expanding its ecosystem by not limiting GSAT 2025 to a one-time event but by promoting new projects such as G-Content Startup Accelerating (150 million won) and Gyeongnam Resource-linked Local Startup Revitalization (1 billion won). Furthermore, it will actively support entry into global markets through local accelerating programs targeting three countries—the United States, Japan, and Vietnam—and the creation of the 43.5 billion won 'Gyeongnam-KDB Regional Innovation Venture Fund.' Yoo Myung-hyun, Director-General of Gyeongnam Province's Industry Bureau, stated his ambition, saying, "GSAT 2025 is a platform that realizes a virtuous cycle of 'challenge-growth-expansion.'" He added, "We will expand our support not only to high-tech industries like AI and aerospace but also to non-manufacturing sectors such as cultural content and tourism, to leap forward as a mecca for global innovation startups." On Gyeongnam's robust safety net, countless entrepreneurs are assembling their airplanes and preparing for a powerful takeoff.