Bluepoint Shares In-house Venture Program Collaboration Achievements and Strategies with Companies

"Independence and Speed Enable Rapid Commercialization"
Emphasizing Synergy Between Bluepoint and Corporate Partners

Bluepoint Partners, a leading accelerator in South Korea, shared its "in-house venture program" strategies with innovation and new business leaders from major domestic companies and institutions, introducing collaboration achievements and know-how in company building.

Lee Yonggwan, CEO of Bluepoint Partners (far right), is answering questions from attendees at the "Venture Studio Insight" session held on the 8th at the COEX Startup Branch in Gangnam-gu, Seoul. Photo by Kim Daehyun

On December 8, Bluepoint held the "Venture Studio Insight" session at the COEX Startup Branch in Gangnam-gu, Seoul.

In his opening remarks, Lee Yonggwan, CEO of Bluepoint Partners, stated, "I believe that close communication and stimulation among early-stage startups with ideas can be the solution to responding to rapid changes," adding, "I hope this event will serve as a venue for such discussions."

Choi Wonki, Investment Manager, who gave a presentation on "In-house Venture Insights," said, "The ultimate goal of Bluepoint's in-house venture program is to create game changers by applying startup methodologies to in-house talent." He introduced the following key methods: market-based iterative experiments and rapid pivoting (business transformation); co-investment at reasonable valuations (strategic and financial investors); and transition to strong founders through peer learning.

In particular, regarding peer learning, he explained, "Prospective founding teams at the same stage share business development progress and exchange mutual feedback to pursue rapid growth," adding, "Through mutual stimulation, each team enhances its capabilities, achieving both competition and cooperation."

Addressing concerns about "the risk of outstanding talent leaving after starting a business," co-presenter Cha Woojin, Investment Manager, said, "It is difficult to prevent outstanding talent from leaving if they are determined to do so anyway. Rather, I believe that creating such a positive channel is a better solution," emphasizing, "Even if a startup we invest in closes down, a 'challenging organizational culture' remains within the organization."

The presentation on "Company Building Insights" was delivered by Investment Managers Ryu Goeun and Park Jeongsu. The case of "N-Force," a hydrogen startup co-founded and initially invested in by Bluepoint and POSCO Holdings, was also introduced.

Park explained the specific company building process, saying, "Bluepoint's role is to establish a new corporation and bring it to a stage where it can enter the market. In the case of N-Force, we conducted research on various competitors in the industry and interviewed retirees from the sector. After verifying the technology and business feasibility, we established the initial business model and developed it into a startup capable of competing in the actual market."

Ryu added, "By applying startup growth methodologies to a company's internal resources, we quickly foster new businesses and scale up, creating companies that are competitive in the market. South Korea has a relatively low commercialization rate compared to its research and development (R&D) scale, but Bluepoint's company building strategy, based on independence and speed, provides a collaborative model to overcome this issue."

He further explained, "Bluepoint takes the lead in the process of finding initial product-market fit (PMF), while the market entry strategy phase is carried out jointly with the company. Subsequently, the scaling-up stage actively leverages the company's strength in providing greater support to internal teams."

Additionally, CEO Lee Yonggwan, during the Q&A session, stated, "Bluepoint has gained confidence in its investments, having increased the number of exits through initial investments followed by IPOs to five cases," adding, "We plan to continue pursuing a long-term investment strategy going forward."

Previously, in July, Bluepoint officially launched the startup collaboration platform "Studio b" as a new growth engine for large and mid-sized companies. Studio b was designed based on Bluepoint's years of experience collaborating with external companies. Bluepoint has engaged in various forms of open innovation with GS Group, Hansol Group, LG Electronics, LG Uplus, POSCO, and others.

This content was produced with the assistance of AI translation services.