The ASEAK-Republic of Korea (ROK) Startup Festival is one of the eleven programmes considered for implementation under the ASEAN-ROK Startups Partnership that was announced through the Co-Chair's Statement of the 2019 ASEAN-ROK Commemorative Summit held in Busan, Korea.

The Partnership between the ASEAN Coordinating Committee on Micro, Small and Medium Enterprises (ACCMSME) and the Ministry of SMEs and Startups of the Republic of Korea (MSS, ROK), aims to expand networking, cooperation and knowledge sharing between ASEAN and Korea to ensure a balanced development of the startup ecosystem in both regions, and contribute to the following outcomes:

• To create an environment where private stakeholders in the startup ecosystem could push forward their inter-regional exchanges and cooperation through open innovation platforms that help more startups scale up into high growth firms. 
• To promote shared and inclusive economic growth in the region in support of the vision of the ASEAN Strategic Action Plan on SME Development 2016 - 2025 (SAP SMED 2025) in creating globally competitive and innovative MSMEs and contribute towards the realisation of the ASEAN Economic Community (AEC). 

In consideration of the pandemic restrictions, the event will be delivered in a fully virtual format. All participants will be virtually connected via Zoom platform.