Global startup accelerators flock to Seoul for Foster Bridge summit

Global players in startup investment and innovation gathered in Seoul on Monday to drive cross-border collaboration and nurture startups in Asia.

The inaugural Foster Bridge summit -- co-hosted by Premier Plan, The Garrison, BOWL International and Sugarful Studio -- began its two-day run at Seoul Dragon City in Yongsan-gu, attracting almost 60 investors and business representatives from 20 countries, alongside local stakeholders.

Under the slogan, “Building bridges for global innovation and growth,” the event connects investors and experts from both the private and public sectors to drive progress in the Asian startup ecosystem.

Foster Bridge stands out for its focus on attracting international investors and accelerators, fostering networks among them in Asia. Unlike most local events that connect startups with investors, Foster Bridge offers a platform for global investors and accelerators to exchange ideas and experiences, with the goal of growing Asian startups.

Korea's SMEs and Startups Minister Oh Young-ju opened the event, emphasizing the vital role of innovative startups in an era of rapid technological change. "The government's vision is to position Korea as Asia's top startup nation by 2027," she said.

The event drew seasoned investors, accelerators and corporate leaders, including representatives from global funds Techstars and Fundingbox, and innovation specialists from PepsiCo and Intel.

Over two days, Foster Bridge hosted “bridge sessions” for sharing growth strategies and market trends, alongside “foster sessions,” an investor pitch program for domestic startups exploring global opportunities. "Bridge zones" offered spaces for practical networking and collaboration.

Gerald Ko, senior investment manager at Gobi Partners, an Asia-focused VC, said the firm has long been drawn to Korea’s startup market, with the event providing a deeper look at its potential.

"Korea has been a very exciting space for enterprises and we are trying to do more investments here, so events such as this are a good opportunity to have a look," Ko said.

Ko emphasized the importance of joint investor meetups, particularly in Asia. "For Asia, we cannot think about venture within one specific country. Unlike the US, where a single shop can serve the whole market, Asia’s smaller populations often push startups to look beyond their home markets," he explained.

He also highlighted the growing appeal of Asia’s startup ecosystem, driven by increased early-stage VC investments and evolving perceptions of venture capital. While venture was seen as risky in Asia a few years back, with more knowledgeable investors and regulatory advancements, startups are finding greater opportunities, he added.

Omar Hassan, CEO of Dubai-based accelerator Global Growth Hub, emphasized the challenges global investors face in accessing Korea’s market. “When navigating countries like Korea, it's not easy — you don't know where to start or who to meet,” he said, noting that international exposure through global events and accelerator programs is key to Korean companies' success.

A member of the Foster Bridge organizing committee addressed the challenges facing Korea's startup ecosystem, citing a conservative culture and barriers to global investment.

"Korea is still very conservative. Many startups struggle with effective pitches to foreign investors, compounded by language barriers," the official said, speaking on the condition of anonymity. "Government-led initiatives and subsidies play a key role, but the focus on numerical targets often hinders long-term vision for profitable businesses."

Despite this, global interest in Korean startups is surging. "When we reached out to global partners, no extra persuasion was needed. Korean startups are already highly attractive, with investments from global VCs capable of significantly elevating their funding scale," he said, expressing hope that Foster Bridge will help position Korea as Asia's next startup hub.

Foster Bridge plans to become an annual event, with potential future venues in Malaysia and the United Arab Emirates. The initiative aims to globalize Korea’s startup ecosystem, driving growth through cross-border collaboration.