AlterPacks were one of 29 outstanding startups from 10 ASEAN countries showcasing solutions in climate tech, AI, and fintech at the ASEAN-Korea Center Start-Up Innovation Week pitch competition in Seoul. This highlighted their groundbreaking work in transforming agricultural waste into high-performance materials.
The ASEAN-Korea Startup Innovation Week, an annual event dedicated to fostering connections between startups from Korea and the 10 ASEAN countries, is marking its seventh year. Originally launched in 2018, this year’s event also celebrates the 35th anniversary of ASEAN-Korea dialogue relations and the 15th anniversary of the ASEAN-Korea Centre. This year’s event showcased promising startups from around the ASEAN region, focusing on AI, fintech and climate technology.
According to the ASEAN Investment Report 2024, published by the ASEAN Secretariat, the region boasts 60 unicorn companies valued at over $1 billion each. As of 2023, foreign direct investment (FDI) into ASEAN reached $230 billion, accounting for 17 percent of global investment. Investment from Korea accounts for more than 10 percent of that total.
Prefer, a Singaporean food tech company, won the grand prize. Other winners included Alterpacks, another Singaporean biotech company; Finan, a Vietnamese fintech company; and Nexta, a Brunei health care company. These companies were among the 30 startups that participated in the event.
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