Page 4 - 201907G20Entrepreneurship Newsletter

UK: A New Online Marketplace for ‘Future Tech' Suppliers to Government

UK Minister for Implementation, Oliver Dowden, launched Spark, technologies that are predicted to have the largest impact over the
an online marketplace to support new technologies, at the start next 2 to 5 years".
of London Tech Week (10 June). Tech start-ups will also see a
boost to their ability to win government contracts through the Suppliers wanted to join the marketplace need to demonstrate
launch of Spark, a new online marketplace that provides a route an innovation that is either "radical" or "disruptive". Once an
into the public sector for companies offering innovative technology application is complete, the process to assess and appoint a
products including Internet of Things (IoT), AI and automation, supplier to the marketplace may take up to a maximum of 15
simulated environments, wearables and new improvements in working days.
security. Spark has been developed using a filter system to help Despite CCS claiming that Spark already has a "wide range of
customers find relevant suppliers. It has a number of defined tech organizations on the marketplace", some observers on Twitter
areas that have been developed with customer input, which the have already questioned the small number of suppliers listed at
Crown Commercial Service (CCS)has said focus on the "emerging launch.

ROK: KITA opens center to help start-ups go global

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The Korea International Trade Association (KITA) opened up a center to
help start-ups go global on June 4, 2019. There are limitations for local
companies that just focus on the domestic market. While there are many
programs out there for start-ups by different institutions, KITA will focus
on sharing the overseas networks to help start-ups go global and scale-up
their business.
The center will not only be an incubating center, but also an open venue for
start-ups to pitch ideas and consult with conglomerates, expert groups and
regulators so they can get the right help they need for starting overseas
businesses. The 250-pyeong (8,896-square-foot) center consists of shared
office space and meeting rooms as well as a pitching hall for start-ups to
pitch ideas to investors.
On the opening day, luxury brand Chanel held meetings with 13 local start-ups at the center looking for innovative partners
to collaborate with. The 13 start-ups were selected by Chanel among some 100 start-ups KITA recommended and earned the
opportunity to pitch their ideas. And KITA is planning to match more companies from the Fortune 500 list with local start-ups.