“2024 Startup Platform – WadizProject
Partnering with the Ministry of SMEs and Startups… Linking Government and Private Sectors to Provide Comprehensive Support
Access a variety of support measures at Maker Centers
Business Center Launched for High-Efficiency Advertising on Facebook and Other Platforms
58% of Brands Re-Run Ads… Sharing Know-How on Strategic Approaches
Even after a maker secures funding and makes a successful debut, there remains a key challenge: expanding into new distribution channels. To achieve brand success, makers can leverage Wadiz value chain, includingWadiz,” which helps establish distribution channels, andWadizwhich provides brand incubation support.
Wadizhas also secured support from both the government and the private sector. The platform’s unique characteristics and its role in fostering entrepreneurship aligned perfectly with the needs of the government and private associations. The ongoing “Our Neighborhood Crowdfunding Support Project,” conducted in partnership with the Ministry of SMEs and Startups, connects approximately 300 small business owners with marketing support and other resources. Maker Center is also operating various support programs designed to address the challenges faced by entrepreneurs.
Wadiz Value Chain Diagram
While you can search for support programs directly through each public agency, you can also easily find them on the partnership program page within Wadiz. If you have specific project goals, you can also pursue a partnership by contacting us.
According to Wadiz partnership program on the 7th, the company had partnered with 81 organizations as of the previous day, with a total of 2,144 projects completed. A total of 345,095 investors participated in these projects. Partner organizations range from government-affiliated bodies to public corporations, private companies, social cooperatives, associations, and universities.
The following is a summary of some of the major support programs.
Wadiz‘Next Brand’
Wadizis actively nurturing strategic brands through “Next Brand,” a promising brand development program Wadizsubsidiary Wadiz. Small brands recognized for their growth potential on Wadiz are connected to support for rapid growth, including investment Wadiz, support from the Ministry of SMEs and Startups’ Linkage Investment-based Matching Loan (LIPS) program, and brand incubation services Wadizsubsidiary, Wadiz.
According to the company, there are a total of 18 Next Brand companies in 2023. Despite inflation and deteriorating domestic and global economic conditions, none of the companies in which WadizNext Brand portfolio has invested have experienced financial difficulties. Of the 18 companies, 11 saw significant revenue growth (an average of 62%). Diggimi International (brand name: Foren), mentioned in a previous article, is also a major success story. The total revenue generated by Next Brand amounts to 26.1 billion won.
Selected as the Best LIPS Operating Agency by the Ministry of SMEs and Startups
Last year, Wadizwas selected as the top-performing operator in the Ministry of SMEs and Startups’ Private Investment-Linked Matching Loan Program (LIPS). In collaboration Wadizits parent company, Wadiz, the firm identifies promising small and medium-sized businesses, expands their sales channels, and drives results. Each month, it identifies promising brands from among the 1,800 crowdfunding projects operated Wadiz, and invests in and nurtures them.
▲Number of investee companies eligible for matching loans: 14 (Lead company: 210 Company) ▲Amount of matching loans disbursed: Approximately 3.5 billion won ▲Number of direct investors in 2023: 12 ▲Amount of direct investment in 2023: 1 billion won
Wadiz Introduction Materials
If brands are looking to take things a step further, they should consider the “Biz Center.” It allows them to target highly engaged supporters with strong brand loyalty and utilize a variety of additional advertising products. Of course, advertising campaigns can also be run with government support.
According Wadiz, 58% of projects that used its advertising services ran campaigns two or more times. More than half of the makers ran their campaigns again. The platform reported that these projects raised twice the average total funding amount.
There’s no need to set an overly high advertising budget. On average, successful project creators spent between 10% and 30% of their target amount on advertising. Wadizrecommends spreading this spending throughout the entire project period. Over 93% of creators running large-scale projects worth 50 million won or more use targeted ads. This is to attract supporters at the right moment and boost the effectiveness of their advertising.
The advertising products include a variety of options tailored to business needs, such as "Main Content," which allows projects to be featured to all supporters; "Multi Content," which rotates in the middle section of the mobile homepage where supporters are highly visible; and "Recommended Content," which is shown to supporters browsing similar projects.
Wadizis confident in the effectiveness of its targeted Facebook and Instagram ads. The company reported that when using the Wadiz Pixel (customer data), the cost per click (CPC) was approximately half that of running social media ads on a typical e-commerce site, and the conversion rate (CVR) was eight times higher.
(Original: The 'Maker-Biz Center' completes Wadiz comprehensive value chain)
