Have Startups made Korea what it is today?
In today’s socioeconomic times, startups are creating a big
movement. They are defining our lives and influencing our culture in a rapid
manner. They have become more than simple business opportunities, they have
become a part of our lives. On a financial side, startups are becoming
increasingly appealing and we constantly hear about people’s success. They have
motivated a whole new generation of entrepreneurs. To create a startup, one
must understand what they are getting into. A startup is a newly established
business. However, this is a very simply explanation. As stated by co-CEO of
Warby Parker Mr. Blumenthal, “A startup is a company working to solve a problem
where the solution is not obvious and success is not guaranteed.”(1)
Warby Parker itself fulfilled a need by providing quality glasses at an
affordable rate. The key in this is that it is working to solve a problem. Many
people might create a business simply in hopes of taking some of an already
existent market but not solving a problem. This may or may not fall under
people’s definition of a startup, but in this case, it seems to fall short.
However, startups, if successful, often do provide great financial abundance.
This is something that allowed Korea to have such a mark on the world.
Korea, after the war with the United States, had a somewhat
negative image. In time, it could remake its image and achieve a higher level
of comfort for their people by investing in technical and pop cultural
innovations. (2) The country has become so famous for both reasons
mentioned that they have begun to influence the world. If Korea wanted to ramp
up its image even more it could provide aid to struggling countries by Korean
brand startups or aid. This would increase the positive image others have of it
worldwide. Korea has already made a move towards this by creating an
accelerator program for international startups to make its tech industry more
diverse. (3)
Question: Do you think that Startups will eventually diminish as problems are solved?
Question: Do you think that Startups will eventually diminish as problems are solved?
(Evolution of a StartUp)
Citations
2)
Hong, Eung. 2014. The Birth of Korean Cool: How
One Nation Is Conquering the World Through Pop Culture. Picador: New York
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