Testing your startup ideas in foreign markets
Testing your startup ideas in foreign markets. India should set up an environment where foreign startups can test their ideas along with domestic startups.
Times of India reports that for early startups looking to test out their technology ideas in the South East Asian markets , the first K-Startup Grand Challenge promises an invitation to accelerator programme Gangnam-style and more. "Over the last three to four years we have shifted focus to globalization and establishing an open ecosystem for the Korean startups.
With a population which is an early adapter of technology we want global startups to look at Korea as a testing bed for the launch of their product in South East Asian market," says Kyung Hwan Lee , executive director of National IT Industry Promotion Agency (NIPA) at Korea-India SW Cooperation Center.
He adds that the programme also looks at diversifying the startup ecosystem within the country where market leaders in the technology and on-demand space have been startups from Korea focused on the domestic market. As fintech becomes a major area of interest across India and South East Asia, Lee adds that payments and on-demand services are sectors which will pick pace in a growing startup economy.