- 25 companies entered Malaysia and Vietnam to carry out localized business validation, such as global PoC demonstration and K-culture pop-up store operation.
- The key strength is that it provides an opportunity to validate the business in the actual overseas market.
- Leading to practical implementation steps, such as support for commercialization funds (up to KRW 100 million), advancement of prototypes, promotion of local projects, and marketing
- Establishing an ‘hands-on support system’ that designs and manages the entire implementation process of founders together, and creating a practical growth ecosystem that leads to sustainable entrepreneurship
- Based on the operational experience and platform accumulated over the past 10 years, we will once again revitalize the startup ecosystem.
The Incheon Center for Creative Economy & Innovation is a specialized organization for startups and supports the innovative growth of startup companies through various startup support programs, such as the ICCE Entrepreneurship School and the Youth Entrepreneurship Challenge.
Moreover, the Center promotes a wide range of open innovation projects to quickly enter the market for startups. Aside from Hanjin Group and KT Group, which are major corporate partners of the Incheon Center for Creative Economy & Innovation, the Center supports the rapid growth of startups by expanding its open innovation business with various large and medium-sized companies, such as Hansol PNS and Woojung Bio.
The Incheon Center for Creative Economy & Innovation accelerates the innovative growth process of startups and contributes to building the local startup ecosystem, from direct investment in early-stage companies, securing research and development (R&D) funds through TIPS support, venture capital (VC) investment, follow-up investment linkage using ‘BiiG Wave IR’, to support for global expansion.
Jaesun Lee, CEO of the Incheon Center for Creative Economy & Innovation, emphasized, “To revitalize the investment ecosystem, we are discovering promising startups and making direct investments”, and added, “Since 2023, we have been selected as a TIPS operator and are sparing no effort to support the companies we invest in so that they can grow rapidly with R&D funding from the Ministry of SMEs and Startups.” He added, “We are operating the ‘Big Wave IR’ business so that excellent and promising companies can receive Series A or higher investment using the Big Wave fund.” We met CEO Lee at the Incheon Center for Creative Economy & Innovation in Yeonsu-gu, Incheon.
Profile
CEO of Incheon Center for Creative Economy & Innovation
K-Biolab Hub Business Manager (concurrent position)
Former Managing Director, CDO Development Team, Samsung Biologics
Former Group Leader, Samsung Bioepis Cell Culture Group
Former Senior Researcher, Samsung Electronics Biosimilar Group
Former Senior Researcher at Yuhan Corporation Biotech Laboratory
Please introduce the Youth Global Launchpad Program.
“The Youth Global Launchpad Program is jointly operated by Incheon Metropolitan City and the Incheon Center for Creative Economy & Innovation, and is a program that discovers and supports young entrepreneurs in the Incheon area who can expand globally but lack resources and opportunities. It aims to help young entrepreneurs directly enter global markets, accumulate experience, and lay the foundation for them to grow into global young CEOs in the long run.
In an environment where technological development and the expansion and reorganization of global value chains are accelerating due to the Fourth Industrial Revolution, this project provides systematic support to young entrepreneurs to take a more strategic view of the global market and create practical opportunities to enter the market.”
What is the background and necessity of starting the Youth Global Launchpad Program?
“Recently, there have been more cases where young entrepreneurs’ business items are based on the global market, but in the actual stage of expanding overseas, there are not a few cases where they face difficulties due to a lack of information and limited experience. In particular, the younger the company and the earlier the stage, the more likely they are to feel significant barriers to entry due to overseas market research, building local networks, and a lack of understanding of institutional and cultural differences. The ‘Youth Global Launchpad Program’ was launched to address these structural challenges and to support young entrepreneurs so they can prepare their businesses with overseas markets in mind from an earlier stage.”
“The biggest difference is that we designed our overseas expansion as a ‘process’ rather than a one-off experience or event. This project provides support from the company’s preparation stage to local entry and subsequent expansion possibilities as a single flow, and its support methods are tailored to the company’s growth stage and situation. In addition, its key strength is that it does not stop at simply providing information or networking, but also provides an opportunity to verify the business in the actual overseas market. Through this, we are helping people recognize global expansion as a ‘realistic option’ rather than an ‘experience’.”
What kind of support and benefits will companies selected for the Youth Global Launchpad Program receive?
“Companies selected for the Youth Global Launchpad Program will receive process-oriented support to go overseas to experience the market firsthand and promote their projects. First, through preliminary consulting and mentoring, we help them establish a global expansion strategy tailored to each company’s items and growth stage, and carry out a preparation process for the target countries and markets. After that, companies will conduct hands-on activities abroad, such as local market research, partner discovery, business meetings, and networking. Through this, you can go beyond simply accessing data or information about overseas markets and gain experience by directly verifying it on site.
In addition, we provide support for commercialization funds (up to KRW 100 million) needed during the overseas expansion process, helping to advance to practical implementation stages such as prototype enhancement, local business promotion, and marketing, and we also support the potential for further expansion after overseas entry by connecting with global acceleration programs. In short, the ‘Youth Global Launchpad Program’ is a program designed to help young companies carry out global expansion as a step in actual business, not as a one-time experience.”
“In 2025, we divided the business into two tracks to expand support for prospective and early-stage founders. 15 Track1 (Challenger) companies have entered Malaysia and Vietnam, and 10 Track2 (Rookie) companies have entered Vietnam. Among the 25 companies that participated this year, three companies have made particularly notable achievements: ROVIGOS, Bitglim, and Anghodu.
ROVIGOS is a cloud-based smart logistics control solution company that has started its global expansion in earnest, focusing on the Malaysian market. During the participation in this project, it actually acquired SaaS paid subscription customers in Malaysia and verified the local applicability of its solution. In addition, it completed investment of approximately KRW 3 billion in the Seed stage and an additional KRW 2 billion in 2025, being recognized for its technological capabilities and growth potential. It also signed an MOU with YLTC Sdn Bhd, a local consumer goods manufacturing and distribution company, establishing a collaborative structure to supply logistics solutions to about 3,000 convenience stores in Malaysia, and also expanded domestic and international sales channels through large-scale solution contracts with major domestic companies and logistics delivery contracts with global companies. In particular, in the Malaysian state of Selangor, the construction of a smart logistics center with an area of approximately 69,422 ㎡ is underway. It is an impressive achievement that the business is expanding beyond demonstration in overseas markets to the stage of building local infrastructure.
Bitglim is a concrete example that specifically validates the global applicability of content-based businesses in the Malaysian market. As a display-based art content streaming platform company, it has promoted local collaborations centered on affiliates of large Malaysian companies. During the participation in this project, Bitglim examined the possibility of collaborating on digital and offline advertising and marketing content and held a PoC discussion with the University of Malaysia to establish an exhibition showcase within the faculty. Through this, the company confirmed the possibility of expanding its content into education, exhibition, and advertising areas. In particular, it is a meaningful achievement that Bitglim signed a total of three MOUs with local companies in Malaysia and secured the portfolios and content data of 70 local artists, creating a connection structure with the local content ecosystem beyond simple entry discussions.
Anghodu is an empirical example that verified the possibility of K-dessert franchise overseas expansion in the Vietnamese market. As a company that branded K-desserts based on local specialties, it set Vietnam as its key target market and promoted its business.
It operated a pop-up store in Vietnam to observe actual consumer reactions, and through this, the company directly validated the potential to enter the Vietnamese market. After that, the company signed an MOU with a local partner, C-LAPS, and continued discussions on how to operate the flagship store.
Based on this process, Bitglim is preparing to launch the Anghodu flagship store in Ho Chi Minh City in January 2026, and is expanding into a locally established franchise model rather than a short-term activation. In addition, not only in Vietnam, but also in the Philippines, it has signed a master franchise agreement and is in the process of establishing a corporation.”
“Our biggest expectation is that the startup ecosystem in the Incheon region will not be limited to the domestic market, but will naturally transition to a structure that moves on the premise of globalization. In the past, many young entrepreneurs were interested in expanding overseas, but in reality, they often postponed the challenge due to a lack of information and limited experience. Through this project, if young entrepreneurs can design their businesses with overseas markets in mind from an earlier stage and experience the global market through actual local experience, I believe it can be an opportunity to change the perception and direction of the entire local startup ecosystem beyond the achievements of individual companies. In addition, if these experiences and achievements are accumulated, it will serve as a realistic reference case for subsequent entrepreneurs, and we expect to create a virtuous cycle in which the Incheon area is recognized as a ‘city where startups with strengths in overseas expansion grow’.”
What are the most important principles or standards to consider in operating the Youth Global Launchpad Program?
“It is not about seeing global expansion as a vague challenge or a short-term achievement, but to approaching it as one of the growth processes of the company. I believe that the meaning of the company’s business direction and strategy is more important than simple one-time experiences abroad. Furthermore, since each company is at a different stage of growth and level of preparation, we focus on tailored support to each company’s situation rather than uniform support. Through this, we want to support global expansion that is actually feasible and can lead to the next step, rather than presenting excessive targets that are difficult for companies to handle.
Above all, our core principle is to help companies develop the ability to make their own judgments and choices in the process of global expansion. Through this, we support young companies so that they can look at the global market from a long-term perspective without being swayed by short-term results.”
What do you think is the most important factor for young people and startups preparing to expand overseas?
“I think the most important factor for young people and startups preparing to expand globally is a clear understanding of which market and in what way their business can be competitive, rather than simply having the desire ‘to go abroad’. Rather than entering the market based on vague expectations or trends, it is necessary to conduct thorough research on the target market and understand local demand. Another important factor is the experience of facing it directly on site. Overseas markets have limitations with just data or information, so it is necessary to meet partners and engage with customers on-site, and to go through a process of verifying business potential. Through this experience, companies can more clearly recognize their own strengths and limitations. The ‘Youth Global Launchpad Program’ focuses on helping young companies see overseas expansion not as a vague goal, but as a realistic strategy and task for implementation.”
“I believe that it is important to create a structure that allows the experience of global expansion to lead to the next level for the sustainable growth of a company. Even if the experience overseas does not immediately lead to results, I believe that the role of the center is to help the understanding of the market and network accumulated in the process lead to future business expansion. To this end, the center is considering the need for continuous inspection and linkage support to enable companies to naturally connect to investment attraction, subsequent commercialization, and additional global expansion opportunities without losing direction even after overseas expansion. Ultimately, our goal is to lay the foundation for companies to grow with a long-term perspective on the global market, not just one global expansion.”
Could you introduce a representative program operated by the Incheon Center for Creative Economy & Innovation?
“The center’s representative program is ‘Big Wave’. Big Wave is a brand created by Incheon Metropolitan City and the Incheon Center for Creative Economy & Innovation to revitalize the investment ecosystem. Like a big wave rising with fierce momentum, we have a brand called Big Wave with a listing to grow promising technology startup companies across the country into unicorn companies. Big Wave is driving Korea’s investment ecosystem as a platform where investments are made by connecting and facilitating communication between startups and investors nationwide, in connection with the Incheon Big Wave Fund project worth approximately KRW 1.1 trillion.
Big Wave IR is held twice a year for promising investment companies nationwide, discovers approximately 15 companies, and strengthens investment attraction capabilities through company diagnosis, customized consulting for each company, and pitching training. In addition, we hold media days and large-scale IR events to introduce startup companies to investment firms, and then provide ongoing follow-up management to ensure successful investment attraction.
Big Wave IR, which was in its fifth year in 2025, recruits companies nationwide, with the number of participating companies reaching a new maximum every year. In 2025, an average of about 300 companies applied for a single recruitment, with an average competition rate of 23:1. As for the operational performance of Big Wave IR, from 2021 to the present, more than 140 companies have been discovered, more than 2,900 investment partners have participated online and offline, and about 173 billion won in investment has been achieved.”
What are the overall goals and directions of the Incheon Center for Creative Economy & Innovation and major support projects in 2026?
“In 2026, we plan to focus on further advancing the full-cycle support system, including investment, open innovation, and global expansion programs, so that startups can grow more stably. The goal is to build a more efficient and organically linked ecosystem according to the growth stage of startup companies, rather than piecemeal support.
In addition, in line with changes in industry trends, we will expand integration with existing industries, focusing on promising fields, such as AI and biotechnology, and continue to consider customized support measures accordingly.
Based on the operational experience and platform accumulated over the past 10 years, the Incheon Center for Creative Economy & Innovation will once again play a role in revitalizing the startup ecosystem and establish itself as a key base for reviving the local economy.”
reporter jinho lee
jinho2323@hankyung.com
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