Canada and South Korea Connect 1,400 Tech Startups

When 1,400 companies in your network start asking how to expand beyond North America, you listen. That's exactly what happened at YSpace, the Canadian entrepreneurship hub based at York University.

In December, YSpace leaders traveled to Seoul and signed two game-changing agreements. The memorandums of understanding with Korea Business Angels Association and Seoul AI Hub create real pathways for startups to cross borders in both directions.

"There are a lot of synergies between Canada and Korea's industries, academic institutions, and the cultures around innovation," said Nafis Ahmed, Associate Director of Entrepreneurship at YSpace. Both countries rank among the top nations for young adults with college or university education, according to the Organisation for Economic Co-operation and Development.

The partnership makes perfect sense when you look at what each country brings. Korea leads the world in industrial automation and robotics, while Canada boasts recognized AI research and a thriving startup scene. Together, they fill each other's gaps.

Korean startup Referral Kloser already proved the model works. After joining YSpace's Startup Visa program in October 2023, the marketing company established Canadian operations in May 2025 and hit revenue targets ahead of schedule.

"The systematic support from YSpace allowed us to significantly shorten the timeline from incorporation to generating actual revenue in Canada," said CEO Youngjin Byun. The company had been making repeated trips to Canada through informal channels before YSpace provided structure.

The new agreements go beyond networking events. They include joint workshops, mentoring sessions, and soft-landing support for startups exploring new markets. Both organizations also plan collaboration on research commercialization projects.

The Ripple Effect

David Kwok, YSpace's Director of Entrepreneurship and Innovation, explained how these agreements change everything. Without formal commitments, conversations stayed theoretical. Now leadership from both sides is committed, so teams on the ground can actually execute plans.

The Korea Business Angels Association, backed by the national government, gives supported companies access to public funding for research and development. Seoul AI Hub works closely with Seoul National University to help AI companies grow through applied research.

"Now is the time when AI is being applied across industries and delivering tangible, real-world value," said Chanjin Park, Managing Director of Seoul AI Hub. The partnership will create opportunities for cross-city joint research and help founders scale globally.

For Canadian startups eyeing Asian markets or Korean companies exploring North America, months of uncertainty just became clear pathways forward.