Students filled the Yonsei School of Business’ Yongjae Hall on May 25 to hear well-known investors and entrepreneurs discuss the Chinese market and explain strategies for start-up businesses there.
Speakers for the Global Start-up Seminar were Peter Davison, an angel investor in PayPal; Daniel Shi, founder of 23Seed, a platform for seed and angel stage investors and start-ups in China; and YSB alumnus Dongwon Shin, CEO of Neoply China, which sponsors new business ventures there.
CEO Yoojung Shin of Startup-X hosted the seminar in which Davison delivered the keynote address on “Comparison of the Start-up Eco-system Between the U.S. and China.” He said, “Although Korea possesses a very good environment to start businesses, China and U.S. have similar environments as well as a greater scale of investment and market. Although Koreans may lack of large amount of initial capital, they can successfully establish businesses in the U.S. and China if they understand their market characteristics and seize the opportunity.” He encouraged the students to overcome their fear of founding businesses.
Shi, the founder of 23Seed, spoke on the “Chinese Start-up Environment and Advice for Korean Ventures Entering China.” He pointed out that China’s governmental support toward start-ups is very systematic and explained how the support system has developed and how start-ups can use the various support programs and supporting institutions.
Shin, CEO of Neoply China, said he had been away from Yonsei University for a long time since graduating in communication. In his lecture on “Korean Start-up’s Entry Strategy Into China,” he said the “Chinese government is certainly fostering amicable policies and environment for start-ups. One should hold a global perspective rather than limiting one’s perspective within Korea if one has the confidence to provide a differentiated service and acquire customers through positive market research.” He encouraged students to establish businesses. “Although it is a personal preference whether to be employed or to found businesses,” he said, “being employed adds value to a firm whereas founding businesses adds value to society.”
After the seminar, Surin Oh (Entering class of 2011) said, “The advice and encouragement from the guest speakers gave me huge confidence. I was able to learn a lot about start-ups through the seminar, which I felt was complex and vague in the beginning, and widened my view of start-ups entering the global market.”