I have a lot of respect for the ancient Koreans, but when it comes to startups, they got a lot of things wrong. From the confucian ideal of stability (what stability? We're here to disrupt!) to the hierarchal organization structure, there's no doubt old Korea would make a very bad startup ecosystem. Not to mention lack of Internet in the rice paddy fields.

Korean startups usually do very poorly at crowdfunding. Let me show you how poorly: at this time, there are 81 Korean crowd projects on “Indiegogo”, with only 3 successfully raising more than $100,000 (the global average is 9%) .

In July we start our first formal startup program called “Silicon Wadi”. So far for the last year we have invested in several Korean startups but not as part of an official program – we now have a start date and will try to bring together 10 excellent startups to all start our incubation program at that date. Apply here:

http://koisraseedpartners.com/kr/program

We recently had a 'mashup' event at KSP; this mashup event had Korean startups and Israeli startups pitching for 10 minutes each in front of a Korean audience of potential investors. This event was a fascinating way to see the differences between Korean and Israeli startups.