Successful Completion of 2024 GMEP in South Africa and Kenya
The foundation has successfully completed a 6-week program in South Africa and Kenya to support the entry of seven innovative Korean climate tech startups into the African market. This program was conducted as part of the '2024 GMEP' initiative, which is overseen by the Ministry of SMEs and Startups, managed by the Korea Institute of Startup&Entrepreneurship Development(KISED) and led by the foundation. The program was held for three weeks each in South Africa and Kenya, totaling six weeks.
In Nairobi, Kenya, which is emerging as a major technology hub in Africa, the participating startups engaged in various activities including one-on-one business matching with local partners and investors, market research, investment pitching (IR pitching), and mentoring. They also expanded their network through meetings with key government agencies such as the Export Processing Zones Authority, Ministry of Trade investments and Industry, Ministry of Environment and Climate change, Ministry of Foreign Affairs, Keinvest, National Environment Management Authority. The active support of Ambassador Kipkosgei TOROITICH, the Charge d'Affaires at the Kenyan Embassy in Korea, was instrumental in enabling the foundation to facilitate exchanges between the Kenyan government agencies and the startups involved in the program.
On September 3rd, the Korean startups participated in the AfricArena Nairobi Summit 2024, where they presented the potential of their technologies and solutions for the African market and had the opportunity to network with local investors. The event was an important platform showcasing Africa's innovation capabilities, attended by over 20 promising African startups and more than 100 global investors.
Through their participation in this program, Korean innovative climate tech startups have taken a significant first step in confirming their competitiveness in the African green technology market, forming close relationships with the local ecosystem, and seeking new opportunities. The Korea-Africa Foundation plans to continue supporting Korean startups' entry into Africa and to promote various programs to expand cooperation between the two regions.