- Global innovation network composed ofexperts from business, academia, and institutions

- Joint development of thousands ofinnovative technologies and businesses with Xinova network

Xinova Asia is a company that helps solve problems in the companies and provides services that help in innovation to prepare for the future. As a part of the global startup development project run by GBSA, it is running Xinova Global Acceleration Program 2020 at Pangyo Techno Valley Startup Campus Global Acceleration Center. Here, it has selected promising startups in various Industry 4.0 sectors such as eco-friendly, IT and AI, and bio-healthcare, and it is providing residence in the center for one year and various support to help enter the global market. Xinova Asia, based in Seoul and Pangyo, provides Product & Technology Innovation Services and Business Model Innovation Services to help startup companies enter the global market.

Xinova is a company that was spun off from a global patentcompany Intellectual Ventures that was founded in 2000 by the former CTO ofMicrosoft Nathan Myhrvold and the former CSA of Microsoft Edward Jung. Xinova,the “innovation partner” that defines innovation problems and derives solutionsby the global innovation network and supports commercialization/businessdevelopment was established in 2016. In the global innovation network of Xinovamade up of scientists, engineers, inventors, and business experts from topuniversities and research institutions around the world has a group of 12,000experts participating.

Xinova Asia is a joint venture of Xinova that is expanding itsbusiness to the Asian market by securing large and medium-sized companies inKorea as customers, and it is led by Chairman Kim Yong-seong, who served as theCEO of Doosan Infracore. Chairman Kim heard about the plan to establish Xinovafrom Edward Jung, his cousin, and thought that Xinova's business would behelpful in improving the global competitiveness of Korean companies. So, heplanned to establish Xinova Asia.

Chairman Kim was the first Korean partner of McKinsey &Company. He then joined Doosan Group and served as the CEO of Neoplux,president of Doosan Group Strategic Planning Headquarters, and the CEO ofDoosan Infracore. Chairman Kim's career experience was seen suitable forconsulting to resolve issues the companies have, and this led to the smoothestablishment of Xinova Asia, opening up its office in Teheran-ro, Seoul in May2016.

Xinova Asia aims to achieve and maximize value by placing thefour elements of innovation--ideas, talents, capital, and demand--in the rightplace. It is providing Product & Technology Innovation Services andBusiness Model Innovation Services. In Product & Technology InnovationServices Level I, the answers to the basic things you want to know aboutinitiating innovation are provided within a short period and at a low cost. InLevel II, the project manager of Xinova helps define issues for innovation, andthe global innovator network provides outstanding and strong solutions that thecustomers need. Also, Business Model Innovation Services presents a plan todesign and implement a new business model that can lead to the creativedisruption in the entire industry with the analysis of the value chain of theindustry to which the customer belongs.

Xinova Asia is currently running the Xinova Global AccelerationProgram 2020 run by Gyeonggi-do and GBSA as a part of a global startupdevelopment project. Xinova Global Acceleration Program 2020 provides workspaceand infrastructure, and also provides regular fostering programs and customizedprograms for each company with local market expert training, global advancementtraining, and customized local expert advice. CEO Kim suggested that he willfirst foster 10 companies in Gyeonggi-do and enter them in the internationalstartup competition. He said, "When you enter the contest, you raise thepossibility of concluding overseas export contracts, and your technology willbe certified on the global stage. We are working hard to create a healthyecosystem and human network for startups in Korea."

He added, "Pangyo has very good geopoliticalcharacteristics when it comes to foreign standards, and there are too manycompany supporting policies that we don't know where to use them. However, tocreate an active and dynamic ecosystem like Silicon Valley, we have toreharmonize with a high-quality workforce from large companies and strengtheninnovative links that can create a win-win situation among the large companies,SMEs, and startup in the technological workforce and financial aspect."

He said that many large companies are running in open innovation format to effectively develop R&D when it is hard to predict which specific technology will succeed, and emphasized that SMEs and startups should also raise the R&D competitiveness with IPs or patents. Kim ended his interview by saying, "Xinova Asia’s long-term goal is helping to strengthen the human network of startups and growing a unicorn company on the way.”