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Title A Study of Emerging Areas on the Promotion Policy Trends and Cooperative Measures for the Establishment and Start-up : Focusing on India and Southeast Asia
Author Jihyun PARK ·Jong Hwa LEE· Nayeon KIM· Hyo-Min CHOI Hit 717
Journal Policy Research Vol. 18-18
Language KOR Pages 1-160
  • Abstract
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Currently, overseas expansion areas of venture/startups and interest/information of support organizations and startups are concentrated in certain regions such as the US and China. For the purpose of diversifying this into emerging regions such as India and Southeast Asia, this study studies the environment of establishment and cooperation, focusing on India which is notable in terms of market and technology. It analyzes the startup ecosystem in India, identifies the characteristics and examples of globalization of the Indian startup ecosystem, and draws strategies and policy implications for Korea.
India's startup ecosystem has been growing rapidly due to prime minister Modi, active innovation policies including 'Start-up India', and improved infrastructure and consumption conditions. 'Start-up India' promotes regulatory simplification, funding and initiatives, industry-university linkage and incubation systems with the aim of creating an innovation and startup ecosystem. Bangalore, Delhi NCR and Mumbai are among the major innovation clusters. Many of incubators and accelerators are based on universities, and some are supported by domestic and foreign corporations. The United States has a large portion among the foreign investors. Major sectors include bio-health, logistics, fintec, education, enterprise, customer service, and deep tech.
The Indian startup ecosystem has a global aspect in terms of overseas experience of founders, R&D and outsourcing experience with global companies, Indian companies’ overseas expansion, and global companies' entry into India. India’s global cooperation is mainly in the area of smart city, technology
cooperation, and startup ecosystem. Indian startups tend to expand abroad based on the experience in domestic market, and global tech companies enter the market directly or indirectly -- through investment or acquisitions.
In terms of startups, Korea-India cooperation can be pushed in terms of utilization of talent (such as outsourcing), technology cooperation (such as joint R & D), and entry into the Indian market. Entry into the Indian market is likely to be through acquisitions and mergers with local companies, through the intergovernmental (G2G) business, and localization of proven technologies and business models. Due to the low accessibility of Indian markets, it is desirable to establish an Korea-India startup platform at a national level, and to pursue the Korea-India joint fund, startup exchange program, information sharing forum, and B2B meeting on the basis of platform. It is also necessary for schools, local governments, public institutions, and the private sector to identify strategic cooperation sectors and exchange personnels and technology.
The results of this study are expected to be used as basic data for the dissemination of follow-up research and as a reference material for establishing policies of related government departments. It is also expected that it will enhance the global competence of our ecosystem and contribute to the entry of Korean companies into emerging countries' ecosystems such as India based on cooperation strategies.
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