Back in July, six local firms set up shop at a place in Seoul called "Google for Startups."<br />The tech giant not only provided office space, it's helping them network with various experts.<br />Today, the CEOs of these Korean companies presented what they've achieved in half a year.<br />Ko Roon-hee zooms in on their experience. <br />Last year, Shin Ki-young started a company that would combine artificial intelligence with fashion.<br />And now, as CEO, his company is headquartered at Google for Startups.<br />It uses AI... to help clothing companies choose designs and styles that go well with their product lines.<br />Shin says that because of the work space supplied by Google... his business was able to grow.<br /><br />"I met many people here working for AI or machine learning businesses. I think one of the biggest strengths of this place is networking." <br /><br />On Tuesday, representatives from the six startups, including Shin's, presented what they've achieved since July.<br />They were able to raise investment worth around 4-point-4 million U.S. dollars, and they grew in terms of staff... by 30 percent. <br />This was possible thanks to Google providing a working space, mentoring and global networking opportunities.<br /><br />"I think most of all, startups need support. They need psychological and emotional support. It is a really difficult thing that they are doing. What we really need to intend is give them that support."<br /><br />Startups continue to boom in South Korea.<br />Through October this year, the number of companies newly set up came to more than 85-thousand... an increase on year of 5-and-a-half percent.<br />To keep the trend going, the South Korean government unveiled new measures on Monday to support people starting their own businesses.<br />By 2020, it plans to create a fund worth around 8-point-8 billion U.S. dollars raised from private investors... and focus most of it on businesses in the early stages... rather than ones that are already growing.<br />An expert cautions, though, that there's a lot more to starting a successful business than just setting up a company.<br /><br />"There are four important steps to starting a business. First, finding a problem in society. Second, solving that problem. Third... is the fun that you feel while solving it. And lastly, it's observing how entrepreneurship can benefit a country's economy. But here in South Korea, many are more concerned about starting a company than the problem people want to solve." <br /><br />Ko Roon-hee, Arirang News. <br />
