1. Please briefly introduce the Venture Management Global Camp program.

(Min-kyun Kim) The Venture Management Global Camp is an entrepreneurship training program where you visit Silicon Valley and learn about various experiences and life-changing values related to entrepreneurship. This year's Global Camp program was attended by ten students majoring in entrepreneurship. It consisted of four days of pre-workshop and seven days in Silicon Valley.


2. What inspired you to participate in the Global Camp, and what did you expect the most from the program?

(Min-kyun Kim) I have dreamed of starting a business in the United States and have always been interested in how the K-wave, especially K-Food, has been evolving in the U.S., particularly concerning the F&B industry.

(Gwan-hee Cho) I wanted to gain a firsthand experience of the environment of Silicon Valley, known as the front line of entrepreneurship. I was particularly interested in seeing how it compares to Korea regarding market size and in discovering the current trends at the forefront of the tech industry. "Spring Camp," which has a long-standing relationship with SNU student startups, also has a base camp in Palo Alto, so I was looking forward to exploring the environment for investment as well as startups.

(Jae-chan Lee) I have also heard many speakers give talks on entrepreneurship, telling people to "Try starting a business in the U.S." However, I felt hesitant whenever I thought about doing that, maybe because I didn't fully understand the market. I applied for this Global Camp to find answers to my questions. I thought I needed to experience and understand this market to make decisions, and I believe that the U.S. is a market that every aspiring entrepreneur should explore.



3. What did you learn during the pre-workshop held at the Entrepreneurship Center?

(Min-kyun Kim) We listened to lectures given by startup founders in various fields based in Korea who are working to enter the American market. We learned about what kind of country the U.S. is and strategies for doing business there, such as specific considerations needed for service and marketing. Thanks to the workshop, we were able to deepen our understanding of the American market.


4. What did you do during the camp in the U.S.? What were your most memorable experiences?

(Min-kyun Kim) The camp lasted seven days, and we had group and individual activities. For group activities, we visited companies such as Meta and Google and listened to lectures from SNU alumni who started their businesses in the U.S. Individually, we had the opportunity to be proactive and explore the local market based on our interests. I remember visiting the Google and Sendbird offices because it was an opportunity to be physically inspired by looking at a startup and a large company that succeeded in the U.S. I especially enjoyed meeting Dong-Shin Kim, the CEO of Sendbird. He shared the journey of founding the U.S. office by showing a photo of Sendbird's early days when three people started the business with two desks in a tiny office, about the size of two Gosiwon rooms. Being there and seeing the space, I could feel how the startup began and grew. Mr. Kim also mentioned that he switched all the content he consumed, including Instagram and YouTube, into English to improve his English skills when trying to enter the American market. I was genuinely impressed by his dedication to intentionally changing and optimizing his environment.

(Jae-chan Lee) I liked the group schedule, but I found my individual schedule especially meaningful. I am interested in psychology, and I was able to meet a startup CEO who is running a service related to depression with a partner who has a PhD in psychology from Stanford University. I thought I would mainly be talking about startup items with the CEO, but I had lengthy discussions on fundamental issues, such as the overall startup ecosystem and the mindset of an entrepreneur. Thanks to the meeting, I had the opportunity to think about whether I really wanted to start a business and what mindset I should have.

(Gwan-hee Cho) My most memorable experience was attending the Silicon Valley Tech Forum meet-up. It was a networking event for tech startup teams and VCs, and I had the chance to meet someone who had started a business in a similar domain to the one I started. I had experience researching, creating a prototype, and trying to start a business in that area, only to switch to another direction because the market response was not what we had expected. However, I discovered that the person I met came to Silicon Valley without a particular technology or partner, aiming only to verify the cheapest device from Google. I realized that some people who come to Silicon Valley do so simply with the determination to start a business, even without any technology or background knowledge. It was eye-opening to learn that in Silicon Valley, they ask, "Why does it work?" before questioning, "Why doesn't it work?"

I also remember meeting some Stanford graduates who had started their businesses after graduation. In Korea, we would have had to spend a lot of
time figuring out how to beat the companies that were already ahead of us, but in the U.S., each niche market is big in size, so even a single item can lead to a unicorn startup. It was meaningful to learn about such differences in market size and atmosphere in person.


5. What was the most challenging moment during the camp?

(Min-kyun Kim) The most challenging yet meaningful moment was when I conducted user interviews while holding cup bap (rice cups) on the Stanford University campus. It was part of a prototype test to see if there's a need for "convenience food vending machines" in the U.S., where food costs are high. Our team handed out 50 cup bap we prepared from Korea and tried to interview students. Packing 50 cup bap from Korea was physically demanding, and it was a big challenge to approach students from different backgrounds and start conversations in an unfamiliar environment. Some people were unexpectedly wary of us because we wrote interview requests in sketchbooks and carried them around, mistaking us for protesters. The last interviewee said, "I thought you were protesters because you looked so stiff," and added, "It would be better if you approached us in a more fun and friendly way." Through this experience, I learned the importance of communicating beyond cultural borders.

(Jae-chan Lee) I also discovered that approaching people from different cultures in an unfamiliar place, which was America, and asking them to participate in a prototype test was new, challenging, but fun at the same time. It's something you should be prepared for if you want to start a business, but in reality, it was not as easy as I had imagined. However, I kept reminding myself, "Don't be embarrassed, it's something you have to do," and I managed to finish it in the end.



6. Were there any new lessons or inspirations you gained through the camp?

(Min-kyun Kim) In a nutshell, I believe I have learned about life. The theme of the final presentation for the Global Camp was "What Matters to You the Most?" I initially thought I would have to present on which domain I would start my business in or what business idea I found during my visit to the U.S. However, the question I received was much more fundamental than I expected. I was also impressed by the sheer size of the U.S. after visiting the Stanford campus, which is over five times larger than Seoul National University. I have experienced growth in the past when my physical environment changed rather than through my own choice, and this was another opportunity to realize the power of a new environment.
In the end, I realized that what matters most to me is to "let myself be in a newer and bigger world." I felt the opportunities and potential on the larger stage in the U.S. and rediscovered how much I enjoy entrepreneurship. Furthermore, I became confident that building a startup would be the most direct way to enter the global market, and I decided to launch a business to meet a bigger world in the future.

(Gwan-hee Cho) Through this experience, I became convinced that if I were to start a business, it should be in the U.S. I believe the U.S. offers a much better environment than Korea in terms of market size and a respectful, encouraging culture for entrepreneurs. I initially thought it would be natural to set up my business in the comfort of Korea, but now I believe going to the U.S. would significantly increase my chances of success. There are barriers, such as language and networks, and before, I might have decided to stay in Korea because of these issues, but now I think overcoming such barriers is part of starting a business. I feel that if I can overcome various obstacles, just like I did in Korea, I can expect a much larger market.

(Jae-chan Lee) I learned the entrepreneurial mindset found in the U.S. What impressed me the most from what I heard in the U.S. is that, unlike Korea, they do not just encourage startups not to fail, but encourage them not to fear failure and to aim for much bigger goals. American VCs like Y Combinator believe, "Although startups might fail, they would become companies that change the world." In the U.S., they seem to encourage you to think more about "the goal you want to reach" and help you get closer to achieving it. Such cultural differences also influenced my way of thinking because, looking back, I was unconsciously working "not to fail" rather than to "succeed" in Korea. For example, even when preparing for a presentation during class, I focused on not ruining it, whereas now, I try to improve myself. I learned that if I start a business, I should challenge myself to be successful and achieve growth rather than just survive, and for that, I became confident that I should go to the U.S.



7. How has your experience in Silicon Valley changed your interest, perspective, or plans for entrepreneurship and venture management? How do you plan to use the experience gained through the camp in the future?

(Min-kyun Kim) I established a firm perspective that "To start a business, you need to start in a big market." Now that I am certain that I will start a business geared for global expansion, I would like to find items that are not limited to Korea but have the global market in mind.

(Jae-chan Lee) I now have a much clearer idea of the path I want to take after this camp. Before, I only had a vague sense that "I might go to the U.S.," but now, I believe that "I must go to the U.S." I would like to apply for an MBA program if an opportunity arises, and although I don't have a concrete plan yet, I feel I at least have a clearer direction and perspective on my career options.
In addition, the mindset I learned by freely organizing my schedule, reaching out with cold emails, and testing by carrying prototypes around has already been helpful in Korea. Since these experiences took place in the U.S., which was an entirely new environment, I gained the motivation to be more proactive and passionate. Each of these experiences has helped me grow into a better person.

(Gwan-hee Cho) While I do not have a detailed plan yet, I agree that this camp was an eye-opening experience. It made me consider options I hadn't thought of before, and I now have a plan to start a business with global potential. If I were to launch a company right now, I would, without question, target the American market. The opportunities to meet CEOs I wouldn't have been able to meet in person were also a huge asset for me. I hope to use this network effectively and make connections to create better opportunities.

The Stories from the Entrepreneurship Center section features interviews with current and former students majoring in Business Administration in Entrepreneurship, as well as startup teams that participated in the Center's programs, sharing the journeys of young entrepreneurs. If you are interested in this section, please send emails to snustartup@snu.ac.kr.