Startup Programs for Early-Stage Entrepreneurs
As the table shows, entrepreneurship building is being promoted by diverse entities.
Common theme is to select, connect, and invest(or provide financial grants) in a competi-
tive processes. ETHOS is focusing more on training and connecting.
1.3 Short History of ETHOS
The first pilot program (‘ETHOS 1’) was designed to provide entrepreneurs from
different countries with the opportunity to grow and network through a focused learning
program . After the first pilot program, the initial ETHOS program was held in January
of 2015 with 20 participants from Bangladesh and Vietnam. Outcomes of the program
highlighted the high demand from aspiring young entrepreneurs for similar programs.
Although the program seeks to provide entrepreneurs with learning and business connec-
tions, it was also built with the objective to promote a lifelong mentoring through the cre-
010 011
2. ETHOS Initiatives II. Program Development
2.1 ETHOS Objectives
1. Business Plan Competition Preparation
The target audiences who will have different benefits from ETHOS can be defined as
follows: First of all, young and talented entrepreneurs from developing and FCV countries
are the primary target of ETHOS. At the same time, investors will have the opportunity to 1.1 Pilot Program Planning and Implementation
get connected with new markets and new partners which may lead to entirely new busi-
ness ventures. Also, ETHOS is expected to provide platform for ODA (Overseas Develop- 1.1.1 Planning
ment Aid) agencies to explore alternative approaches. The experiences from the ETHOS 1.1.1.1 From ETHOS to v-ETHOS
program will help policymakers in developing and FCV countries to witness the evidence
With the transition of ETHOS into a virtual format (v-ETHOS) when the pandemic hit,
that startups are both important and viable in their respective countries.
the program had to undergo a re-design process to transform its content into one suitable
Entrepreneurship programs must equip future entrepreneurs with the necessary
for virtual learning. A pilot session was therefore conducted ahead of launching v-ETHOS
skills to meet the need to accelerate economic development through generating new
to ensure the smooth transition to a virtual setting.
ideas and converting those ideas into viable and profitable ventures. Studies on the
effectiveness of entrepreneurship education stress that one of the major challenges is the
appropriate development of curricula and training programs. While little is known about
effective teaching techniques for entrepreneurship, teaching approaches and methods that
involve learning by doing, immersion in real-life situations, case studies and talks by en-
trepreneurs have proved to be more effective. Therefore, entrepreneurship training pro-
grams have expanded to include more experiential learning and opportunities to interact
with leaders in the field.
ETHOS (also known as ‘Entrepreneurial Talents House of Opportunities and Sup -
port’) is an initiative that aims to support young entrepreneurs understand and identify
v-ETHOS Pilot Session Planning
factors that will help them succeed. More particularly, the program will focus on how In-
formation and Communications Technology (ICT) can be leveraged for business growth
The program had originally three core objectives: Mentoring, sharing & connecting(-
and success.
networking), and pitching experience, which have been identified as the more important
As boosting entrepreneurship has increasingly become a top priority for policymak-
skills for mentees participating in the program. Activities related to field experience, such
ers to spur job creation and boost growth, ETHOS aims to contribute to this objective by
as visits to Korean startups, have been removed from the virtual format and greater em-
supporting policymakers and other stakeholders in building the required ecosystem for
phasis was placed on mentoring and networking through webinars and roundtable discus-
entrepreneurship. The program goes beyond offering a one-off training program to build-
sions.
ing a sustainable platform that is continuously leveraged amongst ETHOSians’ as a mento-
ring and networking space.
012 013
Two-way audio and
video streaming player - Customized two-way transmission player development
development
Real-time video mento- - Hosting system development
ring system design - Access system development
v-ETHOS Pilot Session Platform Mentoring Room Development
Common Room - Development of the common room where real-time webinars and
recorded lectures take place. The common room includes functions to enable the upload of
recorded videos including keynote lectures and other materials as well as a video stream-
ing player that enables two-way video and audio transmissions simultaneously.
v-ETHOS Pilot Session Planning with Date Video player develop-
- Video player development to upload recorded videos
ment
Two-way audio and
video streaming player - Customized two-way transmission player development
1.1.1.2 Platform Design and Development development
Real-time webinar sys- - Hosting system development
tem design - Access system development
To conduct v-ETHOS, a gateway platform was designed to include various platform in-
terfaces where ETHOS II activities can take place.
v-ETHOS Pilot Session Platform Common Room Development
Design the customized user interface enabling different user types includ-
-
ing v-ETHOS team, participants, mentors, lecturers, startup participants, and Pitching Room - Development of the pitching room that can be used by startups and
Interface design
investors
investors to see recorded pitching videos and conduct real-time pitching sessions.
Design interface with affiliated rooms in the platform
-
- User login system development
User sign-in and login Video player develop-
- User database storage system - Video player development to upload pitching videos of participants
system development ment
- User access control system development
Two-way audio and
v-ETHOS Pilot Session Platform Design video streaming player - Customized two-way transmission player development
development
Real-time Demo Day Hosting system development to give different access authentication to mod-
-
Mentoring Room – Development of the mentoring room where business mentoring
design erators, participants, and investors
and tech coaching takes place. The mentoring room includes audio and video transmission
v-ETHOS Pilot Session Platform Pitching Room Development
tools, which enable information transmission in real-time.
014 015
1.1.2 Promotion
v-ETHOS Pilot session promotion was carried out from May 25 to July 29, 2020. The
target countries were Cambodia, Myanmar, and Sri Lanka whereby the v-ETHOS team
contacted forty-five institutions and 121 startups in target countries.
Number of contacted institutions
Country Number of contacted startups
(e.g. community, incubator, VCs, etc)
Myanmar 19 28
Cambodia 14 59
Sri Lanka 12 34
Total 45 121
v-ETHOS Pilot Session Promotion Summary
1.1.3 Application and Selection Process
1.1.3.1 Application Process
1.1.3.1.1 Eligibility
Entrepreneurs, employees, and individuals who have entrepreneurship experience or
aspiring to become entrepreneurs in an ICT-related field are eligible to apply. Candidates
must commit to participate in the v-ETHOS program. Nationals of Myanmar, Cambodia
and Sri Lanka are preferred for the pilot program.
1.1.3.1.2 Application Package
v-ETHOS Pilot Session Application Package
Applicants to the ETHOS program are required to submit the following documents in En-
glish.
[Part 1]: Application Form
[Part 2]: Curriculum Vitae
[Part 3]: Business Plan
*CVs and Business Plans can be submitted in a separate file if necessary.
016 017
The application deadline for the pilot session was July 29, 2020. After carefully re -
viewing applications, the first selection batch was announced on August 11, 2020. Online
interviews were conducted between August 18 to 20, 2020 to select the finalists. The results
were announced on August 31, 2020.
1.1.3.3 Finalists
Below is the list of finalists from each country:
Applied
Selected
Team Country
1 Kind Cash Myanmar O
2 Real Pixels Sri Lanka O
3 UNIVISER Sri Lanka X
4 SmartBin Cambodia Cambodia O
5 KARZO Myanmar △ (Withdrawal)
6 LBS (AEBIZ) Cambodia O
7 Okra Cambodia X
8 RecyGlo Myanmar O
9 TapEffect Cambodia O
Total 9 Teams 6 Teams
v-ETHOS Pilot Session Applicants Summary
v-ETHOS Pilot Session Platform Main Page No Country Company Name Business item
1.1.3.2 Selection Process 1 Myanmar Okka Phyo Maung Waste management
RecyGlo
RecyGlo is a B2B SAAS waste management, data collection, analytics, and sustainability reporting plat-
form. The entreprise works with more than 100 global clients in South East Asia to help them with their
circular economy waste management solutions and reporting.
Nicholas Boerema
2 Cambodia piped water solution
v-ETHOS Pilot Session Selection Process Timeline Ajay Chouhan
TapEffect
018 019
TapEffect is a social piped-water enterprise supplying safe and affordable tap water to hard-to-reach ru- 1.1.4 Program Operations
ral and semi-rural communities in Cambodia, with the objective to scale our solution to South-East Asia.
1.1.4.1 Schedule
E-commerce plat-
3 Cambodia Soun Bunthorn
form
The v-ETHOS pilot was conducted for five weeks from September 7 to October 19,
LBS(AEBIZ)
2020. It included four mentoring sessions (for two hours each), four showcases, one live
During covid-19, Cambodians, especially parents, faced significant economic and mental challenges.
This enterprise aims to support them figure out how to address these challenges and provide them with Business Gallery session, and two live (virtual) Demo Day sessions geared towards provid-
solutions on how to maintain sustainable economic growth during the pandemic. ing reference material and trainings for participants to refer to. At the end of the program,
one review meeting was held.
Jaume Marques
4 Myanmar colom donation application
Seher Nihal Cam
Kind Cash
Kind Cash is an application tracking individual and organizational donations while providing a platform
for donations to people in need through top-up cards. The donees are given almost full flexibility in
purchasing goods and services that meet their basic needs while staying safe, keeping their dignity, and
making decisions autonomously.
Arun Pragash
Virtual hologram ad-
5 Sri Lanka Devasagayam Dens-
vertiser
need
Real Pixels
Real Pixels is an Artificial virtual intelligence next-gen advertiser company creating holographic pioneer-
ing displays solution using IoT technology for B2B.
Chanamrithvatey Digital waste man-
6 Cambodia
Kim agement systems
SmartBin Cambodia
A digital eco-enterprise implementing the first digital recycling bin and waste management systems in
Cambodia to boost recycling and nudge the behavioral change to tackle waste management in the coun-
try.
v-ETHOS Pilot Session Schedule
v-ETHOS Pilot Session Finalist
020 021
1.1.4.2 Mentoring Sessions Mentoring Session Key Activities
1.1.4.2.1 Mentor-Team Assignment a) Introduction
b) Business presentation (mentee)
Team Chief Mentor Mentee 1st
c) Mentoring
Seungtae Hwang d) Scheduling for mentoring sessions
1 RecyGlo, TapEffect
NH Investment & Securities Senior vice president nd
2 Mentoring
Hwasung Jeon
2 LBS(AEBIZ), Kind Cash 3rd Mentoring/ Pitching rehearsal
CNT Tech CEO
Mentoring/ Pitching rehearsal
Miyoung Yeo 4th
3 Real Pixels, SmartBin Cambodia * pitching deck/ updated business presentation
Studio D3 CEO
Team 3 Mentoring Schedule (Chief Mentor: Miyoung Yeo)
v-ETHOS Pilot Session Mentoring Session Screenshot
A total of eight hours of mentoring was conducted in a team-teaching setting. De-
spite this format, there was a chief mentor for each team who led the sessions and was in
charge of the mentees. Constructive feedback was provided throughout these sessions and
at the end of each, the chief mentor had to decide whether the team moves on to the Demo
Day or not.
022 023
1.1.4.3 Showcase
1.1.4.4 Business Gallery
Pikurate (Seokkue Song) CEM (Mark Whitaker)
An innovative mobile-accessible platform to effec-
Online knowledge curation platform based on AI tively manage the world’s commodities and reach
the UN SDGs
v-ETHOS Pilot Session Live Business Gallery Screenshot
Date Sep 22nd, 2020 10PM(KST)
World Bank Group Marta Priftis
Dreamary (Keonwoo Shim) Timo (Grace Jung) Korean Startup Jihee Jung (MEDIAI Plus CEO)
Nguyen Thi Mai Huong (Color Pencils,Vietnam)
All-in-one application that lets kids decide and
AI-based hairstylist recommendation & reservation Phuc Pham Tan (Global PAT Company, Vietnam)
manage their routines, schedules, to-do’s, and Participants
platform Tong Vu Than Dan (Gremsy, Vietnam)
reminders Alumni
Md Mahamudur Rahman (YES Technologies, Bangladesh)
v-ETHOS Pilot Session Showcase Summary Nguyen Trong Nghia (Bizigo, Vietnam)
Hasib Ahsan (mPower Social Enterprises, Bangladesh)
Showcase activities were designed to exhibit pitching videos from global startups se-
v-ETHOS Pilot Session Live Business Gallery Summary
lected by SUNY Korea Consortium to provide participants with relevant reference material
to be used for their pitching videos. During the Business Gallery, six mentees presented their pitch decks to the partici -
pants - followed by a Q&A session. The session aimed to push mentees to better reflect on
their business models and connect practitioners from the field with relevant startups to
provide further support.
024 025
1.1.4.4.1 Sample Conversation from Business Gallery 22:35~22:50 SmartBin Cambodia Pitching Vatey
22:50~23:00 Feedback Panelists
Q. Hasib Ahsan : Around 42 percent of people do not have internet access in Cambodia. What is your
strategy to scale up this initiative around the country given the lack of internet access? 23:00~23:15 RealPixels Pitching Arun/Glen
23:15~23:25 Feedback Panelists
A. SmartBin Cambodia: At the moment, we are focusing on large indoor facilities such as community
23:25~23:40 LBS Pitching Soun
malls and universities as they are busy spots. Our first aim is to install this circular system in the com-
munity mall: We aim to provide discounted rates to people in the community who bring us items to be 23:40~23:50 Feedback Panelists
recycled to expand use and reach. We then want to expand this platform to universities and schools; 23:50~24:00 Closing Remark Jang
with a particular focus on youth. After that, we hope to get the support of the government to install
v-ETHOS Pilot Session Live Demo Day 1 Agenda
this system as well in outdoor areas such as parks or touristic areas.
Q. Hasib Ahsan : Thank you very much for the nice presentation. Jungmin Lim Smart Radar System / Director
Minchi Park 500 Startups Korea / Program Manager
Panelists
Jimin Ryu TheVentures / Associate
1.1.4.5 Demo Day Sukhee Yoon 500 Startups Korea / Manager
1.1.4.5.1 Demo Day Live Session 1: October 6th, 2020 9PM(KST)
v-ETHOS Pilot Session Live Demo Day 1 Panelists
All six companies participated in the Demo Day sessions, which included a fif-
teen-minute pitch presentation followed by a Q&A for each team. Investors who participat-
ed in Demo Day 1 were Jungmin Lim (Smart Radar System), Minchi Park (500 Startups),
Jimin Ryu (TheVentures), and Sukhee Yoon (500 Startups).
1.1.4.5.1.1 Sample Conversation from Demo Day 1
Sample Conversation 1
Q. Minchi Park : I Just checked your revenue model which includes a 70 dollar connection fee and a 5
dollar water bill for a month. 5 dollars for month in Cambodian household, what would that be equiva-
lent to?
v-ETHOS Pilot Session Live Demo Day 1
A. TapEffect : It’s less than five cent of income. It’s quite affordable but is based on how much water is
used; so in general less in the wet season because of the rainwater and more in dry season. Wealthier
Time(KST) Session Detail Moderator households use a lot more water. That’s why it combines how much water they use with their incomes
21:00~21:10 Session Introduction Jang as well.
21:10~21:20 Panelist Introduction Jang Sample Conversation 2
21:20~21:35 TapEffect Pitching Nick Q. Jungmin Lim : You have one-stop solution. Which solution is your company’s best service solution,
core competency?
21:35~21:45 Feedback Panelists
A. RecyGlo: Our core competency is IT and analytics. We focus on data, algorithm, and AI. Our platform
21:45~22:00 RecyGlo Pitching Okka
provides analytic services where data is analyzed to visualize the supply chain of our clients. Our com-
22:00~22:10 Feedback Panelists petitors don’t have this advantage. As we are spending more time and energy in this area, we can be a
22:10~22:25 KindCash Pitching Seher/James monopoly in this market.
22:25~22:35 Feedback Panelists
026 027
Sample Conversation 3 18:15~18:25 Feedback Panelists
Q. Sukhee Yoon : My first question is what is the profit model? And the second question is who will be 18:25~18:40 RecyGlo Pitching Okka
the donor? Who is your potential customer? 18:40~18:50 Feedback Panelists
A. Kind Cash : We have different kinds of customers: One is the donor -simply a person who thinks
18:50~19:00 Closing Remark Jang
poverty is a problem and want to be able to track the donation made The other type of customer is
our partners who benefit from donee’s purchases: The donee can purchase anything they need at the
v-ETHOS Pilot Session Live Demo Day 2 Agenda
partners’ shop using the money donated by Kind cash card or application.
Jeon Hwasung CNT Accelerator / CEO
Uhm Chulhyun Nanuhm Angels / CEO
1.1.4.5.2 Demo Day Live Session 2: October 15th, 2020 4PM(KST) Panelists
Lee Jiyong SK Telecom / Director
Koo Namhoon Headstart Silicon Valley / CEO
v-ETHOS Pilot Session Live Demo Day 2 Panelists
In the second Demo Day, ETHOSians conducted a fifteen-minute presentation followed
by a ten-minute Q&A session per each team. Investors who participated in Demo Day 2 were
Jeon Hwasung (CNT Accelerator), Uhm Chulhyun (Nanuhm Angels), Lee Jiyong (SK Telecom),
and Koo Namhoon (Headstartv Silicon Valley).
1.1.4.5.2.1 Sample Conversation from Demo Day 2
v-ETHOS Pilot Session Live Demo Day 2
Sample Conversation 1
Q. Namhoon Koo : Assuming I’m the owner of a retail shop, what is the benefit of using your adver-
Time(KST) Session Detail Moderator tisement tool? How can you boost efficiency of advertisement by connecting real and end customers
using your advertisement tool?
16:00~16:10 Session Introduction Jang
A. RealPixels : By purchasing our AVINA device, you will be able to reach a wider number of customers
16:10~16:20 Panelist Introduction Jang using our hologram technology: By just clicking on ‘tablet’ or ‘smart- phone’, our device can make the
16:20~16:35 RealPixels Pitching Arun/Glen virtual illusion of the product, which should help businesses increase sales as people are attracted by
new things. Also, in the future, our device will provide you with more accurate data on potential target
16:35~16:45 Feedback Panelists
customers who will be interested in your products. Using these customer data, businesses will be able
16:45~17:00 KindCash Pitching Seher/James
to make more targeted sales. This product is targeted to business owners as it will help product sellers
17:00~17:10 Feedback Panelists get better data on their customers.
17:10~17:25 LBS Pitching Soun
17:25~17:35 Feedback Panelists
17:35~17:50 TapEffect Pitching Nick
17:50~18:00 Feedback Panelists
18:00~18:15 SmartBin Cambodia Pitching Vatey
028 029
Fourteen countries were selected as target countries: 8 from Africa, 2 from the Middle
Sample Conversation 2
Q. Namhoon Koo : The biggest challenge in the business industry today is transparency. Everyone East, 3 from Asia and 1 from Europe. More particularly, 5 FCV countries were included:
today questions how does their money get spent? That’s why sometimes I hesitate to donate money. Lao PDR, Lebanon, West Bank and Gaza, Burkina Faso, and Cameroon.
Your Idea sounds very nice and I hope you can make it happen but I’m not sure
A. Kind Cash : We are working to develop a tool to trace donation. When you donate, of course you will No Target Countries Cluster
not be able to know who exactly is the person spending your money but you will be able to track how 1 Algeria
your donation is spent by kind cash. We trying to find a solution for full transparency- if you wish to
2 Tunisia
track. We are also considering collaborating with NGOs to increase transparency from their side as well.
3 Cameroon
Q. Chulhyun Uhm: I think the initiative can generate a lot of social impact. However, what financial val-
4 Cote d’Ivoire
ue can you bring? To build a successful business, you need to ensure the financial sustainability of the African 8
5 Ethiopia
company. How can you make your company more sustainable going forward?
A. Kind Cash: We hope to achieve this through commissions: Donors will be charged a very small fee 6 Rwanda
but it will mainly be through our partners, who will be able to include this as part of their social impact 7 Morocco
strategies. I acknowledge that ensuring sustainability is difficult, but commissions should be one solu-
8 Burkina Faso
tion to address the funding gap.
9 West Bank and Gaza
Mideastern 3
Sample Conversation 3
10 Lebanon
Q. Chulhyun Uhm: I’m curious about the meaningful business model between the installation of your
11 Lao PDR
smartbin and actual pay out. During those pay out period, what is the average time duration you ex-
pect from installation to the actual money or business model you can generate from it? 12 Cambodia Asian 3
A. SmartBin Cambodia: For our financial forecasting, we will try to implement our smartbin first in 13 Vietnam
facilities. For example, we are working with community malls and universities so far. Our first business
14 Georgia Europe 1
model is to install these bins for them and generate income by selling the bins. The second business
model is advertising. We are providing these bins for free for universities but hope to generate reve- 14 Countries 3 clusters 14
nues from advertisement six months after installation.
List of Target Countries
At the moment, we are marketing and connecting with our partners using our platform’s rewarding
system. When users recycle their items using our bins, they get reward points which can be used to buy
something in our community. I believe this second model can be also deployed community malls and it
1.2.2 Promotion
will be implement next year.
1.2.2.1 Promotion Partners
1.2 Main Program Preparation
No Organizations
1.2.1 Program Planning
1 World Bank Country Offices
2 KOICA Innoport
Cluster Target Countries 3 The Bridge
African Burkina Faso, Cote d’Ivoire, Algeria, Morocco, Tunisia, Cameroon, Rwanda, Ethiopia 4 Korean embassy in selected country
Middle East Lebanon, West Bank and Gaza 5 The Korea-Africa Foundation
Asian Cambodia, Lao PDR, Vietnam 6 Inforintelligence (Netherland)
Europe Georgia 7 Born2Global center
14 countries
Promotion Partner List
List of Target Countries
The promotion partners of the program are listed in Table 22.
030 031
1.2.2.2 Promotion Target List 1.2.2.3.1 Brochure
Country Number of Organizations Number of Contacts
Cote D’Ivoire 11 13
Burkina Faso 6 7
Algeria 9 25
Morocco 38 38
Tunisia 19 19
Cameroon 11 13
Lebanon 29 34
Rwanda 23 30
Ethiopia 14 14
Georgia 11 11
Lao PDR 10 12
Cambodia 30 34
Vietnam 29 29
13 240 279
v-ETHOS Promotional Brochure _ Page 1
Promotion Summary Statistics
v-ETHOS team contacted 279 people in 240 organizations. The team also conducted a
marketing campaign after collecting the contact information of relevant organizations in
target countries.
1.2.2.3 Promotion Methods
A total of three promotional methods was used: brochures, video, and invitation let-
ters.
v- ETHOS Promotional Video
Testimonials from previous ETHOS participants.
1.2.2.3.3 Invitation Letter
v- ETHOS Invitation Letter
The invitation letter is shown in Figure 14.
034 035
1.2.3 Application and Selection Process 16 Cyan Technology
1.2.3.1 Schedule of Selection Process 17 TapEffect
Cambodia 4
18 Jojoon
19 Tech for Kids Academy
20 Prodestic
Cote d’Ivoire 2
21 BAHROCEL
22 GNMSN project
Schedule of Application and Selection Process 23 BEYI
24 Juice Blender Machine
The program planning was conducted over a three-month period - from January 16 25 Cyber cafe
to March 19, 2021. The selection period lasted five weeks from March 19 to April 12, 2021. 26 TechMos
27 A&J Company
Following the selection, the main program schedule ran from April 19 to May 21, 2021 for
28 AGRI TESt
five weeks.
29 Pineapple juice
30 MEAL EATERY
Rwanda 18
31 1000 Hills Traveler
1.2.3.2 Applicants 32 Pig farming
33 Clothing fashion design
No. Company Country Sum 34 EASYLINK
1 GreenJoy 35 Pineapple juice
2 Multi Meter Machine 36 Shaving hairs salon
3 Kind Cash 37 Detecter Running System
4 Game Studio Vietnam 38 Jerika
7
5 TECHVICO 39 WatchIT Group
6 Kyons project 40 E-commerce
7 Digipay 41 Rido Ebook
8 TechHealth 42 APIA
9 UBANI Georgia 3 43 PFMS Cameroon 7
10 MYCOFOUNDER 44 St Digital
11 E-pharma 45 AG
12 Suntrepreneur 46 Kalicomfort
13 Smarter Buses Lebanon 5 47 Sharee Lao PDR 1
14 EquEduTech
15 digiTAL
036 037
48 Rednaks 1.2.3.3.2 1st Screened Applicants
49 3DWAVE No. Company Country sum
50 DATA PM Tunisia 5 1 GreenJoy
51 COVID SCAN 2 Multi Meter Machine
52 Hope Horizon 3 Kind Cash
53 BLUE FILTER 4 Game Studio Vietnam 7
Palestine (Gaza) 2
54 Startup Palestine 5 TECHVICO
55 Bit Bait 6 Kyons project
Algeria 2
56 VIRTUWARD 7 Digipay
57 Ethiolocate 8 MYCOFOUNDER Georgia 1
Ethiopia 2
58 QINASH 9 E-pharma
59 SYSAURUS Morocco 1 10 Crowdpowered (Suntrepreneur)
Lebanon 4
60 WazInsure 11 digiTAL
Kenya 2
61 Fastagger 12 Smarter Buses
62 Trabble Singapore 1 13 Cyan Technology
63 Vyobotics India 1 14 Tech for Kids Academy Cambodia 3
16 countries 63 15 TapEffect
List of Applicants
16 Prodestic
Cote d’Ivoire 2
17 BAHROCEL
For v-ETHOS, 63 companies from 16 countries applied. Applicants were required to 18 GNMSN project
submit CVs and business plans while pitch decks were optional. 19 Cyber cafe
20 TechMos
Rwanda 6
21 1000 Hills Traveler
22 Jerika
1.2.3.3 1st Round Review
23 WatchIT Group
1.2.3.3.1 1st Round Reviewing Process
24 Rido Ebook
The panelists for the first round of review were: ETHOS Team (SUNY), Hwasung Jeon,
25 APIA
Sokjin Chang, and Jinsol Hwang. Selection was based on the applicants’ business plans, CV Cameroon 4
26 PFMS
and their nationalities. The screening process lasted for three days from 26-29 March 2021.
27 St Digital
28 Sharee Lao PDR 1
29 DATA PM
30 Hope Horizon
Tunisia 4
31 3DWAVE
32 Rednaks
33 BLUE FILTER Palestine (Gaza) 1
038 039
34 Bit Bait The selection board was composed of nine panelists from six organizations: The
Algeria 2
35 VIRTUWARD World Bank Group, NH Investment & Securities, Born2Global, the Bridge, Studio D3, and
36 QINASH Ethiopia 1 CNT Tech. The interviews were scheduled for 4 days with 36 participants.
12 countries 36
Main Session _ List of 1st Screened Applicants Organization Panelist
Marta Lucila Priftis
36 out of 63 companies passed the first round. Seda Pahlavooni
World Bank Group
Youngyun Lee
Jemyung Ryu
NH Investment & Securities Seungtae Hwang
1.2.3.4 2nd Round Review
Born2 Global Sokjin Chang
The Bridge Jinsol Hwang
1.2.3.4.1 2nd Round Interview Scheduling
Studio D3 Miyoung Yeo
CNT Tech Hwasung Jeon
6 organizations 9 panelists
Selection Board of Finalists
The selection board interviewed 36 applicants and selected 27 as finalists. Originally
63 teams had applied while 36 were dismissed after the first screening of CVs and business
plans. Following the pitch interviews (second screening step), twenty-seven teams were se-
lected as finalists.
1.2.3.4.2 2nd Screened Finalist
ETHOS was designed to be open across business subjects because 1) it offers a chance
to have interesting cross-learning among and between different businesses. For example,
2nd Round Interview Schedule a fin-tech business might find business connection with agriculture tech firm. 2) Digital
and ICT provide a common denominator across diverse industries. ETHOS II hosted 46
participants in total (both pilot and main program) of which 33 were male and 13 were
female (28.2%). It should be noted that a balanced gender representation in startups is a
challenging issue especially for certain developing countries due to their religious, social,
and cultural contexts. Special efforts and considerations should be given to encourage and
support female entrepreneurs.
040 041
2. Business Training Program and Material Development
No. Company Country
1 GreenJoy
2 Multi Meter Machine 2.1 Main Program
3 Kind Cash
Vietnam 6
4 TECHVICO 2.1.1 Program Development
5 Kyons project
6 Digipay v-ETHOS provides the following opportunities to participants:
7 MYCOFOUNDER Georgia 1
Specialized services that search, identify, and Seamless learning environments for entrepre-
8 Crowdpowered (Suntrepreneur)
keep track of entrepreneurial talent from devel- neurship and business startups with skills and
9 digiTAL Lebanon 3 oping and FCV countries knowledge development trainings
10 Smarter Buses
Platform to share best practices from diverse
11 Cyan Eco Tech
sources such as research institutions, venture Mentoring support for entrepreneurial talents by
12 Tech for Kids Academy Cambodia 3 firms, investors, experts, and fellow entrepre- fellow entrepreneurs and investors
13 TapEffect neurs
14 Prodestic Cote d’Ivoire 1
v-ETHOS Functions
15 GNMSN project
16 1000 Hills Traveler
Rwanda 4 The v-ETHOS approach developed by SUNY consortium can support the World Bank in
17 Jerika
identifying best practice examples for developing result-oriented training programs across
18 WatchIT Group
its client countries. Based on the various ETHOS forms rolled out so far, the below princi-
19 PFMS
Cameroon 2
20 St Digital ples have been outlined as key factors for promoting a successful learning environment
21 Sharee Lao PDR 1 for entrepreneurs:
22 DATA PM onnecting young entrepreneurs with experts in the field to maximize exposure to
•C
23 3DWAVE Tunisia 3 project implementation
24 Rednaks uilding a sustainable platform for mentoring that goes beyond the training pro-
•B
25 BLUE FILTER Palestine (Gaza) 1
gram to provide ongoing counseling for entrepreneurs
26 Bit Bait Algeria 1
upport entrepreneurs in prototyping their business concept to test the practicabili-
•S
27 QINASH Ethiopia 1
ty of the current design and investigate how a sample of users think and feel about a
12 countries 27
product.
nd
Main Session _ List of 2 Screened Finalists
042 043
2.1.1.1 Program Draft with tech-partners that have business AND technology expertise was highly valued by
ETHOS participants. The concept of tech-partners complements and enriches the mentor-
ing process, and it can be expanded to more diverse digital technologies in diverse regions.
Main Program Planning Draft
The main program consists of four main parts:
Introduction to Startups’: which includes a week of Knowledge Series and orienta-
•‘
tion through webinars
‘Building Your Business’: which includes a two-week mentoring program focused
•
on business modeling and investor relations
• ‘Tech Partnership’: which includes a two-week model on how to build partnerships
with tech firms
Financing Your Business’: which includes a Business Gallery and a Demo Day for
•‘
two-weeks
Mentors are known to be the most important elements in any training and/or support
programs for entrepreneurs. Mentors must have two fundamental qualifications: 1) Busi-
ness/Technology experience and expertise, 2) Communication and leadership qualities. It
is therefore challenging both to find and retain qualified mentors. The main reason for the
success of the ETHOS program can be found in its qualified and dedicated mentors.
What should be particularly noted is the introduction of the Tech Partnership pro-
gram which will augment and provide a longitudinal and sustainable digital training mod-
el and was the most talked about item during post-pilot review sessions. Responses from
the pilot session asked for more tech-partners and more time for interaction. Connecting
044 045
2.1.1.2 Program Elements Session 1 Live
Session 2 Live
Tech Partnership Session
Session 3 Live
Session 4 Live
1st Business Gallery Live
Business Gallery
2nd Business Gallery Live
st
1 Live Pitching Live
Demo Day
2nd Live Pitching Live
Administration Round talk Live
Alumni day Live
Program Elements and Methods
Live sessions were guided with ZOOM, and streaming videos were uploaded to the
platform to enable self-paced learning. In addition, mentoring sessions were divided into
eight groups based on business area and level of development of the startup. Orientations,
Program Concept Note Tech Partnership, Business Gallery, and Demo Day were also divided into three groups
based on participants’ locations.
The program focused on three important elements shown in Figure 18. First, in or- Implementing ETHOS program online can be quite different cost-wise from in-person
der to provide targeted trainings for participants, mentoring sessions were held to better training . If ETHOS were to develop its own online conference platform, the developing
understand the needs of these startups and tech partnerships were established to pair en- cost could be more than the savings from traveling and accommodations. Development of
trepreneurs with relevant experts. Second, during the inception phase for business devel- dedicated stand-alone online platforms does have its merits in terms of long-term stabili-
opment, participants tried to identify key success factors and the critical needs in specific ty, security, and custom-made quality. On the other hand, utilizing a ready-made platform
regions. Lastly, they were able to meet with investors during the Demo Day. such as ZOOM showed a big cost-saving in terms of program operations. However, it must
be pointed out that, regardless of platform status, it is the people (mentors, staff, and lec-
turers) that make the difference.
Program Element Live / Streaming
Welcome message Streaming Program Element Duration Estimation Sub Total
Orientation Program Introduction Streaming 2mins * 4 = 8 mins
Cluster live meeting Live Orientation 12mins 3h 20mins
Lecture Series Streaming 1hour * 3 = 3hours
Knowledge Series
Webinar Live 1hour * 2 = 2hours
Knowledge Series 6h 40mins
Session 1 Live 2h 20mins * 2 = 4h 40minrs
Session 2 Live
Mentoring session
Session 3 Live
Session 4 Live
046 047
2h * 12teams = 24h
2h * 12teams = 24h 2.1.1.3.1 Weekly Schedule Summary
Mentoring 96 hours
2h * 12teams = 24h
2h * 12teams = 24h
70mins * 3 = 3h 30mins
70mins * 3 = 3h 30mins
Tech Partnership 14 hours
70mins * 3 = 3h 30mins
70mins * 3 = 3h 30mins
3h * 3 = 9h
Business Gallery 18 hours
3h * 3 = 9h
4h * 3 = 12h
Demo Day 24 hours
4h * 3 = 12h
1h * 2times * 3cluster = 6h
Administration 8 hours
2 hours
Total 170 hours
Program Schedule - 1st Week
Planned Program Duration
During the orientation, welcome remarks from SUNY, WBG, and the Korean Ministry
of Science and ICT were delivered to participants, which was followed by an introducto-
2.1.1.3 Program Schedule ry video of this year’s participants (ETHOSians). Members later participated in the first
mentoring session, and each team presented their business models and received feedback
Mon Tue Wed Thu Fri
from mentors.
4/19 4/20 4/21 4/22 4/23
The first webinar focused on digital partnerships for global entrepreneurs where
Orientation
1st BM mentoring Webinar 1 1st BM mentoring 2nd BM mentoring speakers gave a presentation on the topic followed by a Q&A session.
Lecture 1
4/26 4/27 4/28 4/29 4/30
nd
2 BM mentoring
Tech Partnership 1 1st IR mentoring Tech Partnership 2 1st IR mentoring
Lecture 2
5/3 5/4 5/5 5/6 5/7
2nd IR mentoring Tech Partnership 3 Break & Prep-day Tech Partnership 3 2nd IR mentoring
5/10 5/11 5/12 5/13 5/14
Webinar 2
Business Gallery 1 Break & Prep-day Business Gallery 2 Roundtalk
Lecture 3
5/17 5/18 5/19 5/20 5/21
Roundtalk Demo Day 1 Break & Prep-day Demo Day 2 Roundtalk
v-ETHOS Main Session Schedule
Orientation Session Screenshot
048 049
Program Schedule – 4th Week
Program Schedule – 2nd Week
Webinar 2 mainly focused on entrepreneurship and sustainable development. The
Business Gallery was also conducted like a ‘real Demo Day’ to improve the pitchingcskills
An investor relations mentoring program followed the business mentoring curricu-
of the mentees. As part of this process, an audience was recruited so that active Q&A ses-
lum, which focused on how to build tech partnerships and build an effective network.
sions could be conducted. During the round talk, feedback was exchanged between partic-
ipants on the pitches ahead of the Demo Day.
Program Schedule – 3rd Week
Program Schedule – 5th Week
In Week 3, following the completion of the investor relations mentoring, mentees
were selected to enter the Business Gallery. The selection was conducted by mentors based
Demo Day candidates were selected more competitively than those of Business Gal-
on business development level, participation rate, and level of improvement. Also, during
lery. The Demo Day selection criteria were determined by region (country), business devel-
this period, tech partnerships 3 and 4 were conducted and completed.
050 051
opment level, and skill improvement level. Demo Days were conducted in three groups, to 2.1.2.2 Platform Feature and Contents
accommodate the number of finalists who passed the Business Gallery. During these, each
team gave a ten-minute pitch to investors followed by a five-minute Q&A session where
feedback was later shared.
2.1.2 Platform Development
2.1.2.1 Platform Planning
This platform was developed to promote and facilitate team building, engagement,
and management, as well as to enable self-paced learning.
Platform UI – Category
The Menu (Category) includes Today’s Event, information on v-ETHOS, Program De-
tails, Mentors, Participants, and Partners. It was designed to help participants check their
schedules and ongoing events as well as to upload the recorded sessions for self-learning.
During the development process, few changes were made from the draft version shown in
Figure 25. The final version is available at https://v-ethos.site/.
Platform Planning Draft
Platform UI – ‘My Page’ Section
052 053
2.2 List of Startup Experts Manager, The Bridge International (2020-Present)
Social Cohesion Officer, UNDP Jordan (2018-2019)
Program Coordinator/Entrepreneurship Fellow,
2.2.1 Mentors List
GWU Office of Innovation and Entrepreneurship (2017-2018)
Founder and CEO, Big Fish Little Fish (2017-2018)
Mentor Affiliated Institution Position Miyoung Yeo Studio D3 CEO
Hwasung Jeon CNT Tech CEO Creative Director, D3 (2015-Present)
Adjunct Professor, Yonsei University (Underwood International College) Culture and Design Manage-
CEO, CNT Tech Ltd. (2003-Present)
ment (2019-Present)
Presidential Commendation in the 20th Korean Software Awards Merchandise Award Category (2019)
Chief Curator, UI ART LINE, Seoul Metropolitan Government, Design Policy Division(Present)
Presidential Commendation from Venture Start-up Promotion Agency (2019)
- Seoul Design Consultant, Innovative Education, Seoul Metropolitan Office of Education (Present)
National IT Industry Promotion Agency Award for unmanned eating-out ordering transaction service
(2018)
Information Summary – Mentors
- Presidential Award from ICT Innovation Awards (2015)
Sokjin Chang Born2Global Director
2.2.2 Tech Partners List
Director of international Cooperation, Born2Global Centre (2020-present)
Vice President, Pioneer Investors Co. Ltd / i-Aurora Co. Ltd (2014-2020)
Advisor to Chairman and CEO, Korea Development Bank (2011-2013)
Tech Partners Affiliated Institution Position (job title)
Special Advisor, Presidential Council on National Competitiveness (2008-2011)
Deputy Director, Ministry of Strategy and Finance (2002-2008) Youjin Choi Classum COO
Hyeri Hyun TheBridge Team Leader COO & Co-founder of Interactive Learning Platform CLASSUM
Team Leader, Global Innovation, The Bridge International (2021-Present) Ah-rum Choi Dot Inc. Director
Gender Officer, Women’s Economic Empowerment (WEE) Team, UN Women Timor-Lester Country Office Social Impact Director of Dot
(2018-2020)
Winnie Badiah WazInsure CEO
Head of International Cooperation, Center for Asia-Pacific ICT Development (CAID) (2017-2018)
Founder of WazInsure
Seungtae Hwang NH Investment & Securities Senior Vice President
Oversee the company’s strategies and business expansion
Vice President, ECM Syndicate, Investment Banking Department NH Investment & Securities (2009-Cur-
Young Gwang Chu Live’s Talk Project Manager
rent)
Project Manager of 2021 Kyrgyzstan KOICA CTS Program
As a ECM syndicate and banker, led and managed most of crucial & sizable IPOs, especially focused on
global & domestic investor management, offering & marketing strategy, marketing activities, etc. Mutembei Kariuki Fastagger CEO
Business Analyst, Equity Capital Markets, HANA DAETOO Securities (2009) Co-founder and CEO of Fastagger Inc
- Analyst, Investment Banking Department, Macquarie Securities (2008) Leading a team of 3 co-founders and 100 remote workers
Soongkyu No Born2Global Manager Chand Gudi Vyobotics CEO
Business Alliance Manager, Born2Global Centre (2020-Present) CEO of Vyobotics
Conducting regular investor relations meetings and monthly tech matching, introducing Korean startups Full time researcher of Innovation and Enterprise Research Laboratory (The Magic Lab), Centre of Artifi-
that fit the needs of the corporates and investors cial Intelligence, University of Technology Sydney
Assisted the coordination of the Global Innovative Growth Forum event hosted by the The World Bank Tony Taewon Han Coconut Silo COO
and the Ministry of Economy and Finance
Head of global business department (Global branches in the USA, China, Vietnam and India)
Property Management Associate, Savills Korea (2018-2019)
Set KPIs and global platform business strategies
BA International Relations, Royal Holloway University of London (2013-2016)
Jihoon Ryu Idciti CEO
Hyunjung Lim TheBridge Manager
Assistant Professor of SUNY Korea and CEO of Idciti
054 055
Ian Low Jian Liang Trabble CEO 2.2.4 Webinar Panelist List
Founder, Trippening Pte Ltd 2.2.4.1 Webinar 1 Session Summary
Tech based company specializing in providing solutions and services to the tourism and hospitality in-
dustry
Webinar 1: Digital Partnership for Global Affiliated Institu-
Kevin Choi Medi Whale Inc. COO Presenter Position
Entrepreneurs tion
CEO of Medi Whale Inc.
Global Tech Partnership for Sustainable
Business development in Digital Healthcare (KR, ASEAN) Sokjin Chang Born2 Global Director
Development
Inventors of medical AI technologies (Patents 40+)
ICT and Socio-economic development James Larson SUNY Korea Professor
Youngho Baik Ecolant Chief Consultant
George Mason
Chief consultant of smart street lighting solutions Financing in Developing Country Jongdoo Lee Professor
University
Jaewon Lee Milk for Lao CEO
CEO of Milk for Lao and Ph.D students of agriculture
Information Summary – Presenters for Webinar 1
Information Summary - Tech Partners
Discussion Panelist Affiliated Institution Position
Hun Jai Lee ASEIC Team Leader
2.2.3 Lecturer List
Samuel Danaa UN DESA Associate Capacity Development Expert
Hyunjung Lim The Bridge International Manager
Affiliated Institu-
No. Lecture Topic Lecturer Position (job title)
tion
Information Summary – Discussion Panelists for Webinar 1
George Mason Uni-
Lecture1 Business Analytics Jongdoo Lee Professor
versity
Webinar 1 was held during the first week of the program. The main topic was ‘Digital
Lecture2 Get a Job or do a Startup? Philip Man Port App Founder
Reverse Innovation and Entre- Partnership for Global Entrepreneurs’. Three presenters and three panelists as well as all
Jungmin
preneurial Opportunities for Seoul National Uni- ETHOSians (26 teams) participated. Panelists were Hun Jai Lee [ASEIC], Samuel Danaa [UN
Lecture3 Leonardo Professor
Sustainability in Developing versity
Lim DESA], and Hyunjung Lim [The Bridge International]. Please refer to the Book 2 for de-
Countries
tailed information.
Information Summary - Lecturers
2.2.4.2 Webinar 2 Session Summary
The lecture was conducted in the form of independent learning by uploading stream-
ing sessions to the platform. Please refer to the Book 2 for detailed information.
Webinar 2 : Entrepreneurship and Sustain- Affiliated Institu-
Presenter Position
able Development tion
Entrepreneurship and sustainable develop-
Namhee Yoon Impact Square Director
ment
Palestinian startups: Current Status and
Rafat Abushaban Startup Palestine CEO
Future Challenges
Building bridge for global entrepreneurs Hwang Jinsol TheBridge CEO
Presenters Information Summary –Webinar 2
056 057
Discussion Panelist Affiliated Institution Position III. Business Training Program
Seda Pahlavooni World Bank Group ICT Policy & Strategy Specialist
Jacob Fohtung JamanInclusive CEO
Jungmin Lim Seoul National Univ. Professor 1. Mentoring Experiences
Discussion Panelists Information Summary – Webinar 2
1.1 Schedule
Webinar 2 was held during the fourth week of the program. The main topic was ‘En-
trepreneurship and Sustainable Development’. Three presenters and three discussion Mon Tue Wed Thu Fri
4/19 4/20 4/21 4/22 4/23
panelists as well as all ETHOSians (26 teams) participated. Discussion panelists were Seda
1st BM Session 1st BM Session 2nd BM Session
Pahlavooni [WBG], Jacob Fohtung [JamanInclusive (Cameroon)], and Jungmin Lim [Seoul
Team 1,3,5,7 Team 2,4,6,8 Team 1,3,5,7
National Univ.]. Please refer to the Book 2 for detailed information.
4/26 4/27 4/28 4/29 4/30
2nd BM Session 1st IR Session 1st IR Session
Team 2,4,6,8 Team 1,3,5,6,7 Team 2,4,8
5/3 5/4 5/5 5/6 5/7
1st IR Session 1st IR Session
Team 1,3,5,7 Team 2,4,6,8
v-ETHOS Mentoring Schedule
Mentoring Schedule - 1st Week
058 059
1.2 Contents of Each Mentoring Sessions
Session Subject Detail
BM mentoring Meet up & Mentoring - PT (10-15mins per each mentee)
Session 1 planning - Individual coaching about business model
30 mins lecture about business model (Item, Finance)
-
BM mentoring
Business Modeling - Revised PT check
Session 2
- Coaching and peer comment
IR mentoring Pitching deck develop- - 30 mins lecture about business pitching
Session 1 ment - Pitching deck check and individual coaching
IR mentoring Pitching skill develop- - Revised pitching deck check
Session 2 ment - Pitching rehearsal
Mentoring Session Guide
Twenty-seven teams participated in the mentoring program, which were divided into
Mentoring Schedule – 2nd Week
a total of eight teams. The team composition is shown in Table 40. Each team participated
in two investor relations mentoring sessions and two business mentoring sessions.
1.3 Mentor-Team Assignment
Affiliated Institu- Position
Mentor Mentoring Type Assigned Team
tion (job title)
Hwasung Jeon CNT Tech CEO Business Modeling Team 1,2
Sokjin Chang Born2 Global Director Business Modeling Team 3,4
Hyeri Hyun The Bridge Team Leader Business Modeling Team 5,6
NH Investment & Senior Vice Presi- Business Modeling Team 7,8
Seungtae Hwang
Securities dent Investor Relations Team 3,4
Soongkyu No Born2Global Manager Investor Relations Team 1,2
Hyunjung Lim The Bridge Manager Investor Relations Team 5,6
Mentoring Schedule – 3rd Week
Miyoung Yeo Studio D3 CEO Investor Relations Team 7,8
Mentor-Team Assignment
The schedule of the three-week intensive mentoring program is shown in Figure 28,
29, 30, which included eight teams. The business mentoring was conducted according to
Each team was composed of three-four participants who shared a similar business
the needs of each team, such as customer analysis, profit model review, business feasibili-
concept and had a comparable business level development.
ty evaluation, market research methods, and cost structure. Meanwhile, Investor Relations
mentoring focused on pitch deck design, storytelling, and presentation methods.
060 061
1.4 Mentoring: Before and After The ‘High’ level of classification represents teams that implemented the largest chang-
es in their pitch decks, which centered mostly on:
For young entrepreneurs or startup founders, mentoring plays a critical role. Mentors
can transfer decades of institutional knowledge to driven, talented newcomers. Most first- 1. Modification of Investment framework & logical flow
time entrepreneurs will face various obstacles and experience failures. Mentors have valu- 2. Compliance with general business presentation guidelines
able experiences regarding failures and can help mentors identify the types of failures to 3. Improved business model description
expect and how to avoid them. Mentoring enables the development of management skills 4. Rephrasing of technology-heavy information into more business focus
and may be more cost-effective than up-front prescribed training in the long run as it sup- 5. Eliminated unnecessary information
ports entrepreneurs in their development life cycle (Sullivan 2002). 6. Clarified explanation of products and features
During the v-ETHOS program, thirty-two sessions of mentoring were provided to par- 7. Revised language and grammar
ticipants and the overall satisfaction was very high. As most of the teams were still at seed
stage, learning from successful startup founders in Korea was a positive learning experi- Teams in the ‘Medium’ classification made fewer adjustments after the mentoring ses-
ence. sions, with modifications centered on:
As pitch decks are one of the key components used to give investors a concise snap-
shot of a company, these mentoring sessions particularly focused on analyzing pitch decks 1. Developed product description
of teams. 2. Enhanced description of business development phases
Modifications most commonly focused on: 3. Better problem statement and solutions
4. Addition of data for more evidence-based problem solving
1. Product Description 5. Completion of a competitor analysis and market research
2. Company portfolio 6. Improved mission statement and vision
3. Business model
4. Mission and Vision Teams with minimum changes, the ‘Low’ classification group, are divided into two dis-
5. Market validation and strategy tinct groups. The first group is the one that already had a solid business model, which did
6. Competitive advantage not require significant changes after the mentoring sessions. The second group includes
7. Design and wording improvements participants who received significant feedback from mentors but were unable to adjust
8. Client and partnership lists their business models. Typically, these groups were at a very early stage of their business
9. General information about the company development and need further support to accompany them and motivate them.
10. Cost analysis, investment and projection
11. Supply chain
12. COVID-19
We classified the levels of change of each team’s pitch decks into three levels: High,
Medium, Low (This represents the level of change, not the quality).
062 063
Themes
Product Company Business
Mission
and
Market
validation and
Competitive
Design and
wording
Client and
partnership
General
information
Cost analysis,
investment and
Supply
COVID-19
2. Tech Partnership Experiences
Description portfolio model advantage about the chain
vision strategy improvements lists projection
company
Business Market Competitive Supply COVID-19 context
1 Features Milestones Goal Keywords Client list Contact info Projection
plan validation advantage chain and tech match
Company past Market size Existing Team Price
Company’s
2 App mock up and future Mission and product and its Images Partnership members and comparison and
capacity
summary opportunities limitations founders scaling
Business Tech Partners Affiliated Institution Position (job title)
3 Service concept Success stories Vision Target market Benefits Slogan Introduction Cost structure
model
4
Demonstration of
a program
Key
achievements
Business
phase
Problems
Market
background
Hyperlink
Sales stats and
projections
Youjin Choi Classum COO
Annual project Global Clear target
5 QR code IR requirement
time line vision group Ah-rum Choi Dot Inc. Director
Emphasis of a Market Investment
6 Cover page
portfolio channels allocation
7 Impact
Market
Video Revenue streams
Winnie Badiah Wazinsure CEO
strategy
8 Graphs Young Gwang Chu Live’s Talk Project Manager
9 Thank you page
Mutembei Kariuki Fastagger CEO
10 Figures
11 Wordings Chand Gudi Vyobotics CEO
12 Numbers
Tony Taewon Han Coconut Silo COO
13 Section dividers
Jihoon Ryu Idciti CEO
14 Simplified
15 Narrative slide Ian Low Jian Liang Trabble CEO
16 Statistics
Kevin Choi Medi Whale Inc. COO
List of Revisions on Pitching Deck After Mentoring Sessions
List of Revisions on Pitching Deck After Mentoring Sessions Youngho Baik Ecolant Chief Consultant
Jaewon Lee Milk for Lao CEO
Participated Tech Partners
2.1 Tech Partnership Session Schedule
EST KST Group April 27th April 29th May 4th May 6th
1st Session 2nd Session 3rd Session 4th Session
Fastagger Trabble Dot Inc. Idciti
7:00- 20:00- Live’s talk Coconut Silo Vyobotics Ecolant
Group1
8:10 21:10 Medi Whale
Classum Wazinsure
Inc.
Idciti Fastagger Trabble Dot Inc.
8:10- 21:10- Ecolant Live’s talk Coconut Silo Vyobotics
Group2
9:20 22:20 Medi Whale Wazinsure
Milk for Lao Classum
Inc. (Absent)
Dot Inc. Idciti Fastagger Trabble
9:20- 22:20- Vyobotics Ecolant Live’s talk Coconut Silo
Group3
10:30 23:30 Medi Whale
Wazinsure Classum
Inc.
Tech Partnership Session Schedule
064 065
The goal of Tech Partnerships is to promote technological advancement through the
introduction of tech startup solutions from Korean startups, and to expand network with Locust Hunters, Automation,
Prodestic
App Maker, IT Consulting
Korean startups. Three tech partners gave presentations in every session followed by Q&A
and networking for thirty minutes. These activities were conducted on a rolling basis to
enable the twelve tech partners to meet all the groups.
Insure Tech, Fintech DigiPay
2.2 Tech Partner Selection
Seamless Booking Platform (Automating
1000 Hills Traveler
Twelve tech partners were selected based on the following criteria: a) tech core pres- Travle & Hospitality industry)
ence b) willingness to connect with developing countries c) relevance with participants’
business development concept.
Make Mobility Easy DATA PM
Tech Partner Company Main Solution Matching Participant
The Fastest Detection
PFMS
AIaaS (Deep Learning Algorithm)
TechVico
(Artificial Intelligence as a Service)
Tech Fit between Tech Partners and Participants
Nomad Solution
Tap Effect
(Communication Infrastructure)
The above table matches participants with relevant tech partners.
Educational Communication Tool
Tech For Kids Academy
(Data Report, AI Assistant)
3. Demo Day Experiences
Enabling Your Business 3.1 Schedule
(Expert in design, build and support of complex IT St Digital
solutions)
Mon Tue Wed Thu Fri
5/10 5/11 5/12 5/13 5/14
IoT Smart Street Light Solution Cyan EcoTech
Business Gallery 1 Business Gallery 2
(Group1,2,3) (Group 1,2,3)
5/17 5/18 5/19 5/20 5/21
Assistive Devices with Demo Day 1 Demo Day 2
WatchIT
Tactile communication tech (Group1,2) (Group 1,2)
v-ETHOS Final Pitching Schedule
066 067
3.2 Business Gallery 16 Yang Hyun Kim Student Student
17 Yeji Kim Student Student
The General Treasury of The
18 Jari Head of departement
Kingdom of Morocco
Junior Account Manager for
19 Jinha Seo Amazon Web Service
Startups
20 Dain lee Korea development bank senior manager
21 Jinhyeok Choi Better World Director
24 Bah Rodrigue BAHROCEL Manager
25 Jaeyoung Park Intern
26 Hyolee Han Thermofisher Scientific Korea Financial Analyst
Business Gallery Audience List
Business Gallery Session (Group1)
To allow participants to rehearse in a setting like the Demo Day, an audience com -
Two ‘Business Gallery’ sessions were held during the fourth week of the program,
posed of twenty-six members was recruited for the Business Gallery sessions.
with each composed of presentations followed by a Q&A – for an overall three-hour ses-
sion.
3.2.2 Sample Conversations from Business Gallery
3.2.1 Audience Information
Business Gallery 1, Group 1
Q. Tamnjong Larry: what is the biggest risk to your startup?
No Name Affiliated Institution Job Title
A. Rednaks: Our biggest risk is Tunisia: It is very likely that companies in Tunisia do not understand
1 Jay Lee Sirloin Marketing very well the added value of our model. That’s why we aim to target other countries in North Africa.
2 Basheer Sharaf GASG Co-Founder We have another solution that we just launched, it’s a marketplace- It’s already live since October. The
marketplace aims to help companies during the pandemic: We basically have the SAS application that
3 Jihoon Ryoo SUNY Korea Member
has nine modules and we have a marketplace to help companies sell their products online - both appli-
4 Sohyun lee Student Student cations are linked together and have a seamless transition between both. Our goal is to try to remove
5 Taejin Jeon KOICA Assistant Manager barriers between offline and online commerce. We are basically trying to unite them through the Mar-
ketplace, which is an online shop.
6 Chand Gudi Vyobotics CEO
7 Youngho Baik ECOLANT General Manager Business Gallery 1, Group 2
8 Jongseo Jung SUNY KOREA Student Q. Elie Akayezu: My question is about to the main objective of the smarter buses. The main object is
that smarter buses or also another service or application? Can it be also applied to different countries.
9 Jae yeon Jo Student Student
Can anyone buy it and apply in his country?
10 Humphrey Odame - Adjei Ph.D Student Student A. Smarter Buses: What I’m trying to do is the smarter buses, which is a tailored solution for every
11 HyeSu Kwon Student Student system or county. So, the system will have settings customizable for any system. That’s why we want to
12 Loic Mbougeko Tagne Kalicomfort corporation CEO start with our country and then we will go to other countries and make the cultural and settings inte-
grated for other countries.
13 Jacob Fohtung Jamani Corporate Group, LLC Founder
14 Desmond Takwi CamPay CEO
15 Wonnyung Kim The Korea-Africa Foundation Director
068 069
Business Gallery 2, Group 3 Sharee Lao PDR O
Q. Ray Baik: For Digipay, what is your competitive edge among Fintech industry? Team6 Tech for Kids Academy Cambodia O
A. Digipay: In our market, currently, there is no direct competitor. We are the only one that has this
Multi Meter Machine Vietnam X
system set up, with a large network. We are the only company that can release a mobile app in App
Rednaks Tunisia O
store that interview multiple financial and insurance services, because the App Store is very restricted
on this. However, our company is compliant with the international standard for Information Security 3DWAVE Tunisia O
Team7
Management System - that’s why we were able to release our application on the App store.
DATA PM Tunisia O
Even if we had a direct competititor, our advantage lies in our ability to provide customers with multiple
WatchIT Group Rwanda O
choices rather than limited products or services from a specific company.
So, in conclusion, the main competitor is our sale. We have to become big enough to attract the largest PFMS Cameroon O
number of financial services to partner with us and become available on our platform. digiTAL Lebanon O
Team8 Crowdpowered
Lebanon O
Questions of the Business Gallery mainly focused on: 1) competitive edges, 2) target (Suntrepreneur)
QINASH Ethiopia X
market, and 3) risks and opportunities.
8 27 16 18
Demo Day Participants
3.3 Demo Day
3.3.1 Demo Day Participants
Team Participant Country Demo Day
Bit Bait (quitted) Algeria X
Team1 Blue Filter Palestine (Gaza) O
Jerika Rwanda O
Prodestic Cote d’Ivoire O
Team2 St Digital Cameroon O
Smarter Buses Lebanon O
GreenJoy Vietnam O
TECHVICO Vietnam X
Team3
TapEffect Cambodia O
DIGIPAY Vietnam O
Cyan Eco Tech Cambodia O
Team4 Kind Cash Vietnam X
Demo Day Live Session Screenshot
Kynos Vietnam X
1000 Hills Traveler Rwanda X
Team5 MYCOFOUNdER Georgia X Demo Day 1 and Demo Day 2 were held on May 18 and May 20. Demo Day sessions
GNMSN project Rwanda X
were held simultaneously in different online meeting rooms.
070 071
gels), Namhoon Koo (Headstart Silicon Valley), Keehwan Kwon (KK Fund), Minchi Park (500
3.3.2 Session Schedule of Demo Day Startups), Hwasung Jeon (CNT Tech), Hyunjae Shin (D3Jubilee Partners), Namhee Yoon
(Impact Square), and Jinsol Hwang (TheBridge).
Time (KST) Subject
8:00 - 8:05 Opening
3.3.3 Invited Investors for Demo Day
8:05 - 8:35 Pitching (Rednaks | Watch IT Group | 3DWAVE)
8:35 - 8:50 Q&A
Name Affiliated Institution Position
8:50 - 8:55 Break Time
Sokjin Chang Born2Global Director of International Cooperation
8:55 - 9:25 Pitching (Blue Filter | Jerika | PFMS)
Cheolhyeon Uhm Nanhum Angels Investment Founder & CEO
9:25 - 9:40 Q&A
Namhoon Koo Headstart Silicon Valley CEO
9:40 - 9:45 Break Time
Keehwan Kwon KK Fund Project Manager
9:45 - 10:15 Pitching (Prodestic| St Digital | DATA PM)
Minchi Park 500 Startups Program Manager
10:15 – 10:30 Q&A
Hwasung Jeon CNT Tech CEO
10:30 – 10:35 Closing
Hyunjae Shin D3Jubilee Partners Principal
Demo Day Schedule of Group 1 Namhee Yoon Impact Square Director
Jinsol Hwang TheBridge CEO
Time (KST) Subject
List of Invited Investors for Demo Day
Time (KST) Subject
8:00 - 8:05 Opening
8:05 - 8:35 Pitching (Crowdpowered | TapEffect | GreenJoy)
3.3.4 Demo Day
8:35 - 8:50 Q&A
8:50 - 8:55 Break Time
Demo day is an event where the ETHOS participants demonstrate and receive valu-
8:55 - 9:25 Pitching (Smarter Buses | Cyan EcoTech | Sharee) able inputs from experienced investors. The investor/panelists who joined in on the
9:25 - 9:40 Q&A ETHOS Demo day did so mainly because 1) they already have interests in a specific region
9:40 - 9:45 Break Time or countries, 2) they have found attractive business item on the Demo list, or 3) simply out
9:45 - 10:15 Pitching (digiTAL | Tech for Kids Academy | DIGIPAY) of curiosity for a potential business connection with exotic markets.
10:15 – 10:30 Q&A Investors with a different set of reasons, expectations and intentions have come to
10:30 – 10:35 Closing
the Demo day to share real experiences with ETHOS participants. As usual, valuable, criti-
Demo Day Schedule of Group 2 cal, and encouraging comments were given which was unanimously positive both for the
investors and participants. The response from the Korean investors can simply be sum-
A total of eighteen companies (67%) entered the Demo Day and teams were reorga- marized as: ‘an eye-opening experience to the business potentials of developing and FCV
nized into two groups instead of three. Groups were divided based on their locations. Each countries.’
team participated in two sessions, composed of a ten-minute pitch followed by a five-min- As of Dec. 2021, two cases are progressing through ETHOS Demo sessions. 1)
ute Q&A per team. Greenjoy from Vietnam has had follow-up meeting with Korean investors. Greenjoy’s natu-
Invited investors were Sokjin Chang (Born2Global), Cheolhyeon Uhm (Nanhum An- ral and bio-degradable straw is getting attention from Korean companies. 2) 3DWave from
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Tunisia is also having business conversations with Korean computer graphic/2D compa - IV. Monitoring & Evaluation
nies for a possible business development. More are expected to have new business oppor-
tunities and business partnership building.
1. v-ETHOS Survey Result
Demo Day 1, Group 1
Q. Charles Uhm: You guys mentioned some of the traction numbers at a particular time, but I just want- Program Evaluation Questionnaire
ed to know whether you have these quarterly or monthly figures. How are you growing your business, - Overall Evaluation
or do you have the growth projections for the next two months? A. Lectures / Webinar
A. Scander (Rednaks): So, we just started this company in the last eight months - I think, and for the 1. Program Contents B. Mentoring
marketplace, it’s growing quite rapidly. We have so far 500 clients so, it’s growing 10% every month - C. Tech Partnership Session
with only two vendors at the moment, the SAS application and the marketplace. It will continue to grow D. Networking among ETHOSians
quite rapidly because now we have the support and some funding from our government, so every
- Overall Evaluation
month now everything is expected to change quite rapidly
A. Length / Times
2. Program Operation
B. Staff Support
Demo Day2, Group 2
C. Promotion
Q. Minchi Park: So I have two questions. One is more a clarification and the second is a direct question.
You mentioned $2 million in revenue, is this a monthly revenue or a yearly revenue? 3. Suggestions for ETHOS - Open Question
A. Georges(Crowdpowered): Well this is the revenue at the particular year, but starting that year, we
Program Evaluation Questionnaire Summary
only included the vertical rooftop solar power for homes, and then starting this year, we have other
two verticals that we’re tackling - which are the agriculture market, and the CNI market.
So, these are projects that are bigger in ticket size but smaller in numbers. Those were favoring creat- A program evaluation survey was conducted using Google survey form from June, 7
ing as many jobs as possible for the electricians but then afterwards, the revenues will go up because to June, 30. About thirty participants responded to the survey.
we are tackling bigger ticket projects.
As for the competition, the main players who launch grid scale contractors in the region are Aqua pow-
er and Taka, which are based in Saudi and UAE. Of them, the smaller scale, I mean, the startups that
are not really startups, they’re more like individual contractors, but then the SME level companies are
1.1 Overall Evaluation
really a yellow door in the Siraj and Saudi. So, these are people who do about $5 million in sales a year.
So this is the scale of competitors we’re talking about. 1.1.1 Overall Evaluation of the ETHOS Program
Q. Minchi Park: So, can I ask a follow up question, if it’s okay with everyone? You mentioned your com-
petitors and you also mentioned that you’ll be tackling the long tail more than the 20% bigger check
size, right? So, among your competitors, are they focusing more on the bigger check sizes, meaning
the 20%, and you’re going to approach the 80%?
A. Georges (Crowdpowered): They’re mostly focusing on the CMI market, because they’re offering
financing services that the individuals seem to love having access to - they’re like leasing long-term
loans. So, we are focusing on the long tail acquisition.
Questions were mainly about: 1) revenue (traction numbers, monthly/yearly reve -
nue), and 2) competitive edges and market portion.
Total Number of Participants: 30
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1.1.2 Overall Evaluation of Mentoring Session 1.1.4 Overall Evaluation of Networking
Total Number of Participants: 30 Total Number of Participants: 30
1.1.3 Overall Evaluation of Tech Partnership Session 1.1.5 Value of Networking
Total Number of Participants: 30 Total Number of Participants: 30
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1.1.6 Overall Evaluation of the ETHOS Program Administrative Supports Question 1 2 3 4 5 Mean
The topic was of value to me 0 0 3 16 11 4.3
The materials were helpful to my work 0 1 6 10 13 4.2
The lecture was useful to my work 0 0 5 14 11 4.2
Overall evaluation of lecture 0 1 2 16 11 4.2
Lecture3_Reverse Innovation and Entrepreneurial Opportunities for Sustainability in
1.2.1.1.3
Developing Countries (Dr. Jungmin Leonardo Lim, Seoul National University)
Question 1 2 3 4 5 Mean
The topic was of value to me 0 0 1 15 14 4.4
The materials were helpful to my work 0 0 2 17 11 4.3
The lecture was useful to my work 0 0 3 15 12 4.3
Total Number of Participants: 30 Overall evaluation of lecture 0 0 0 19 11 4.4
1.2.1.1.4 Webinar1_Digital Partnership for Global Entrepreneurs (April 21st)
1.2 Summary Table by Subject Question 1 2 3 4 5 Mean
The topic was of value to me 0 0 4 13 13 4.3
1 : Very Unsatisfactory The materials were helpful to my work 0 1 3 13 13 4.3
2 : Unsatisfactory
The lecture was useful to my work 0 1 5 11 13 4.2
3 : Moderate
Overall evaluation of webinar 0 1 4 12 13 4.2
4 : Satisfactory
5 : Very Satisfactory
1.2.1.1.5 Webinar2_Entrepreneurship and Sustainable Development (May 10th)
Question 1 2 3 4 5 Mean
1.2.1 Program Contents The topic was of value to me 0 0 4 14 12 4.3
The materials were helpful to my work 0 0 4 16 10 4.2
1.2.1.1 Lectures/Webinar The lecture was useful to my work 0 0 6 10 14 4.3
1.2.1.1.1 Lecture1_Business Analytics (Dr. Jongdoo Lee, George Mason University) Overall evaluation of webinar 0 0 4 16 10 4.2
Question 1 2 3 4 5 Mean
The topic was of value to me 0 0 3 14 13 4.3
The materials were helpful to my work 0 0 6 13 11 4.2
We collected feedbacks from our participants on the lectures and webinars to im-
The lecture was useful to my work 0 0 3 11 16 4.4 prove our next ETHOS program.
Overall evaluation of lecture 0 0 3 12 15 4.4 Participants acknowledged that it would be useful to include more technology-relat-
ed contents, focusing on the latest technology trends like automation, robotics, AI, and
blockchain. Participants also mentioned that it would be helpful to include more hands-on
1.2.1.1.2 Lecture2_Get a job or do a startup? (Philip Man, Port Co-founder) practical trainings to build particular business skills such as conducting financial analysis,
078 079
fundraising, running a successful business, building MVP (Minimum Viable Product), and 1.2.1.2 Mentoring
using Key Performance Indicators to track growth. In addition, some participants pointed 1.2.1.2.1 Business Modeling Mentoring
out that it would be interesting to receive tips and greater know-how about how to operate
Question 1 2 3 4 5 Mean
a startup in the Korean context as the country is a booming ground for entrepreneurship.
Overall evaluation of BM Mentoring 0 0 0 8 22 4.7
Lastly, participants stated that the program should include also practical insights on how
The mentor was well prepared 0 0 0 7 23 4.8
to manage mental health as entrepreneurs go through significant amounts of stress during
Mentoring helped my work 0 0 1 5 24 4.8
this journey: rapid change, unpredictable environments, intense workload, and financial
pressure are all conditions that generate high levels of stress to entrepreneurs (Baron et
1.2.1.2.2 Investor Relations Mentoring
al., 2016).
Question 1 2 3 4 5 Mean
Participants also provided suggestions relevant to the selection of speakers for the
Overall evaluation of IR Mentoring 0 0 1 11 18 4.6
next program: they expressed that it would have been valuable to invite founders that
The mentor was well prepared 0 0 1 9 20 4.6
have already managed to secure investment and/or Venture Capitalists (VCs) to learn more
Mentoring helped my work 0 0 1 8 21 4.7
on the Korean startup ecosystem and their implications. Moreover, other participants ex-
pressed interest in wanting to hear the academic perspective on entrepreneurship and
Regarding mentoring session, participants believed that the Investor Relations mentor
suggested that relevant professors should be invited to the webinars in the future.
program was redundant. Also, participants pointed that it would be important for mentors
On the other hand, participants shared some dissatisfying elements related to the
to be selected from the same field to provide more targeted personal mentorship, which
overall program. Some participants felt that a few speakers were not dedicated. Since the
has been identified as a priority for participants. They suggested to have ETHOS alumni as
whole session was conducted online, participants felt that there was a limitation in deliv-
mentors or coaches. Participants also highlighted that more mentoring sessions should be
ering the message. Other speakers pointed that sessions could be made more personalized,
added and the overall program should be more diverse.
and activities such as break-out rooms, pop quizzes, or ‘surprises’ for the audience would
be helpful to make people to participate better. Lastly, participants acknowledged that it
1.2.1.3 Tech Partnership Session
was unfortunate that the program had to be transformed into a virtual format due to the
1.2.1.3.1 Classum (Youjin Choi)
pandemic, since the elements related to networking and engagement program were affect-
Question 1 2 3 4 5 Mean
ed by this new format.
Overall evaluation of session 0 0 7 12 11 4.1
The presenter was well prepared 0 0 5 13 12 4.2
Shared insights were helpful for my work 0 3 4 13 10 4.0
Was networking satisfied? 0 2 6 12 10 4.0
1.2.1.3.2 Dot Inc. (Ah-rum Choi)
Question 1 2 3 4 5 Mean
Overall evaluation of session 0 0 6 10 14 4.3
The presenter was well prepared 0 0 6 12 12 4.2
Shared insights were helpful for my work 0 2 7 12 9 3.9
080 081
Was networking satisfied? 0 1 7 11 11 4.1 Shared insights were helpful for my work 0 2 7 11 10 4.0
1.2.1.3.3 Wazinsure (Winnie Badiah) Was networking satisfied? 0 1 9 11 9 3.9
Question 1 2 3 4 5 Mean
1.2.1.3.8 idciti (Jihoon Ryu)
Overall evaluation of session 0 0 7 10 13 4.2 Question 1 2 3 4 5 Mean
The presenter was well prepared 0 0 6 11 13 4.2 Overall evaluation of session 0 0 6 13 11 4.2
Shared insights were helpful for my work 0 2 9 10 9 3.9 The presenter was well prepared 0 0 6 13 11 4.2
Was networking satisfied? 0 2 9 8 11 3.9 Shared insights were helpful for my work 0 1 8 11 10 4.0
Was networking satisfied? 0 1 6 14 9 4.0
1.2.1.3.4 Live’s Talk (Young Gwang Chu)
Question 1 2 3 4 5 Mean
1.2.1.3.9 Trabble (Ian Low Jian Liang)
Overall evaluation of session 0 0 6 11 13 4.2 Question 1 2 3 4 5 Mean
The presenter was well prepared 0 0 7 12 11 4.1 Overall evaluation of session 0 0 9 10 11 4.1
Shared insights were helpful for my work 0 1 9 9 11 4.0 The presenter was well prepared 0 0 8 11 11 4.1
Was networking satisfied? 0 2 10 9 9 3.8 Shared insights were helpful for my work 0 2 9 9 10 3.9
Was networking satisfied? 0 1 11 9 9 3.9
1.2.1.3.5 Fastagger (Mutembei Kariuki)
Question 1 2 3 4 5 Mean 1.2.1.3.10 Medi Whale Inc. (Kevin Choi)
Overall evaluation of session 0 0 5 14 11 4.2 Question 1 2 3 4 5 Mean
The presenter was well prepared 0 0 7 12 11 4.1
Overall evaluation of session 0 0 7 14 9 4.1
Shared insights were helpful for my work 0 1 8 13 8 3.9
The presenter was well prepared 0 0 7 11 12 4.2
Was networking satisfied? 0 1 8 13 8 3.9
Shared insights were helpful for my work 0 1 9 11 9 3.9
Was networking satisfied? 0 1 10 13 6 3.8
1.2.1.3.6 Vyobotics (Chand Gudi)
Question 1 2 3 4 5 Mean 1.2.1.3.11 Ecolant (Youngho Baik)
Overall evaluation of session 0 0 7 11 12 4.2 Question 1 2 3 4 5 Mean
The presenter was well prepared 0 1 5 14 10 4.1 Overall evaluation of session 0 0 6 12 12 4.2
Shared insights were helpful for my work 0 2 9 9 10 3.9 The presenter was well prepared 0 0 6 13 11 4.2
Was networking satisfied? 0 2 10 9 9 3.8 Shared insights were helpful for my work 0 1 8 11 10 4.0
Was networking satisfied? 0 1 6 10 13 4.2
1.2.1.3.7 Coconut Silo (Tony Taewon Han)
Question 1 2 3 4 5 Mean
Overall evaluation of session 0 0 8 10 12 4.1
Overall, participants stated that it would be better to have more engaging members:
The presenter was well prepared 0 0 7 12 11 4.1 they mentioned that there was a lack of two-way communication as Q&As were left until
the end of the sessions. In addition, they mentioned that it would have been useful to have
082 083
tech partners in various fields and even more desirable if they were able to select partners 1.2.2.2 Staff Support
from relevant fields. 1.2.2.2.1 Staff Support
1.2.1.4 Networking among ETHOSians Question 1 2 3 4 5 Mean
Overall evaluation 0 1 0 12 17 4.5
Regarding the networking session among ETHOSians, participants expressed that they Staff supports 0 1 0 13 16 4.5
would also like to meet members from outside their groups and spend more time in small Responsiveness to issues 0 1 0 12 17 4.5
groups. Lastly, participants thought it would be useful if members’ contact information
was shared across ETHOSians. Participants were overall quite satisfied with the administrative support.
1.2.2.3 Promotion
1.2.2 Program Operations
1.2.2.1 Length/Times For program promotion, it would be beneficial to use startup communities/incubators
and alumni networks in the future. Also, it will be necessary to narrow the criteria for se-
Too short/ Short/ Long/ Too long/
Question Good
less less much much lection of applicants to ensure a more cohesive cohort at a more-or-less similar business
Overall evaluation 0 3 24 2 1 development stage.
Five weeks session 0 4 24 1 1
Mentoring times
2 6 20 2 0
(4 times)
1.2.3 Suggestions for ETHOS
Mentoring length
2 5 19 4 0
(2 hours)
Overall, participants expressed their wish to have more offline meetings to promote
Tech Partnership times
0 5 20 5 0
(4 times) engagement. Also, participants wished to have greater diversity in the agenda and addi-
Tech Partnership PT length tional sessions on pitching, fundraising and more meetings with potential investors.
0 4 22 4 0
(15 mins)
Webinar 1 3 21 5 0
Lecture 1 1 24 4 0
Business Gallery 2 1 23 3 1
Demo Day 2 0 25 2 1
Regarding the overall operations of the program, participants highlighted the need to
add more mentoring sessions and to devote more time for Demo Days.
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2. ETHOS Follow-up Interview Result 2.1.2 Improvements
v-ETHOS follow-up interviews were carried out from June 28, to July 5, 2021. Jangik First, mentees would like to have more customized Tech Partnership sessions. Some
Lee [Project Manager], Chanmi Kim [Program Coordinator], and Yerin Cho [Program Coor- participants expressed that there was not a suitable partner to collaborate with and/or
dinator] interviewed 24 teams out of 26 teams. discuss their products in more depth. Second, they think the agenda should include more
variations in lectures and webinars with greater emphasis on tech-content and business
operations for founders, since they are still in their early stage of development. Third,
2.1 Follow-up Interview Result more personalized mentoring sessions and mentors from diverse backgrounds should be
provided. Moreover, mentoring sessions should be longer and more breakout rooms for
2.1.1 What was Good networking are needed. Participants also want this program to be a long-lasting platform
so that ETHOSians, including alumni, can stay in touch and create a strong network. Fi-
First, most participants found that the mentoring sessions were of great help: They nally, many mentees expressed the need of greater funding and grants opportunities, espe-
were able to improve their business model and pitch decks. they also pointed out that cially for startups from FCV countries or developing countries.
they were able to develop strong pitching skills during the Business Gallery and Demo Day.
They also acknowledged that they learned a lot from other ETHOSians. Lastly, one of the
2.1.3 Technical Supports What ETHOSians need
greatest achievements is the business collaborations between ETHOSians, tech partners
and mentors created throughout the program. Table 53 shows the collaborations created Figure 33 shows technical supports that ETHOSians looked-for the most.
among participants.
Mobile
Application
Collaborated Members
Development
Cyan Eco Tech Greenjoy
Both green-tech startups
[Cambodia, Participant] [Vietnam, Participant]
Digipay Kind Cash
Both fin-tech startups Cloud AI
[Vietnam, Participant] [Vietnam, Participant]
Technology Technology
Tech for Kids Academy Classum
Both edu-tech startups
[Cambodia, Participant] [Korea, Tech-partner]
Techvico Coconut Silo[Korea,
Both mobility-tech startups
[Vietnam, Participant] Tech-partner]
Cyan Eco Tech Sokjin Chang
Institutional support
[Cambodia, Participant] [Born2Global, Mentor]
3DWAVE Miyoung Yeo Blockchain Web
Business opportunities
[Tunisia, Participant] [Studio D3, Mentor] Development Development