Shinbo, Recruiting 7th Batch of Innovative Startups Until Next Month 5th

Selection of 100 Innovative Startups in 4 Sectors Including Fintech and Social Ventures
Providing Financial and Non-Financial Services Such as Guarantees, Investments, Accelerating, and Overseas Expansion

[Asia Economy Reporter Haeyoung Kwon] The Korea Credit Guarantee Fund announced on the 5th that it will recruit innovative startups and prospective entrepreneurs wishing to participate in the 7th Startup Nest until the 5th of next month.

Startup Nest is a startup nurturing platform consisting of four stages: ▲discovering promising startups ▲accelerating ▲financial support ▲growth support. It provides integrated support combining financial services such as guarantees and investments with non-financial services including acceleration, overseas expansion, and technical consulting.

Up to the 6th term, the Korea Credit Guarantee Fund has discovered a total of 460 promising startups, providing credit guarantees worth 129.6 billion KRW and direct investments of 8.9 billion KRW, and has led investment attraction of 38.6 billion KRW in connection with private venture capital.

The eligibility for application for the 7th term is startups established within 3 years operating in innovative growth fields related to the 4th Industrial Revolution. A total of 100 innovative startups will be selected, including about 25 non-metropolitan companies and about 10 social venture companies. In particular, in line with the government's fintech industry promotion policy, a special fintech track has been established, selecting 5 companies to provide customized support considering the characteristics of the companies.

Selected companies will receive financial support from the Korea Credit Guarantee Fund along with systematic nurturing programs provided by private accelerators participating as operators. Additionally, customized services tailored to growth stages and company characteristics will be provided one-stop in connection with public, private, and academic specialized institutions such as the Korea International Trade Association, KOTRA, Seoul National University, large corporations, and the Creative Economy Innovation Center.

Especially this year, collaboration with large corporations and related organizations will be expanded and the program systematized to support Nest companies' participation in various startup support programs operated by partner organizations. Furthermore, the investment attraction platform 'YouConnect' will grant eligibility to participate in demo days and online investor relations (IR) sessions, supporting investment attraction from over 100 partner investors.

Detailed information can be found on the Korea Credit Guarantee Fund website and the government startup integrated portal 'K-Startup,' and applications can be submitted through the Startup Nest online application page.

A Korea Credit Guarantee Fund official stated, “Startup Nest is Korea's representative startup nurturing platform equipped with diverse and high-quality support programs,” adding, “The Korea Credit Guarantee Fund will provide customized support programs considering the characteristics of startups and continuously expand collaboration with related organizations to become a hub for discovering and supporting startups.”

This content was produced with the assistance of AI translation services.