Korea Fintech Support Center Opens Applications for 'Fintech Cube' Resident Companies... Full Startup Package Support

[Asia Economy Reporter Oh Ju-yeon] The Korea Fintech Support Center is recruiting companies to participate in 'Fintech Cube.'

On the 18th, the Korea Fintech Support Center announced that it will provide office space and professional acceleration to promising fintech startups within 'Front 1,' the Mapo Youth Innovation Town. The program will be operated by K Accelerator and Daedeok Venture Partners, both accelerator corporations registered with the Ministry of SMEs and Startups.

The target companies are 25 fintech startups, selected according to their growth stages: growth stage and leap stage. The growth stage includes 16 early-stage companies within three years of establishment and prospective entrepreneurs, while the leap stage selects 9 companies established between three and seven years. The selection fields cover all areas recognized as fintech industries combining finance and IT technologies, such as payment, artificial intelligence (AI), peer-to-peer (P2P) transactions, blockchain, and robo-advisors.

Front 1 is an innovative startup platform that concentrates domestic startup networks scattered across various locations and is scheduled to open in July.

Participating companies will receive tailored support according to their growth stages for systematic scale-up. The operators will provide customized expert mentoring services for each resident company and conduct lectures by industry professionals reflecting business issues and policies. Additionally, through collaboration with financial institutions, they will expand commercialization connections and operate networking programs involving the Korea Fintech Support Center and resident companies.

Subsequently, a demo day will be held to verify business models and attract actual investments, with evaluations conducted mainly by industry experts and investors. Support will also be provided for overseas IR and exhibitions, and global programs assisting private financial company labs and overseas expansion will be operated.

Companies wishing to participate can download the 'Application Form and Business Plan' from the Korea Fintech Support Center website and submit it via email by 6 p.m. on the 2nd of next month. The evaluation panel will select companies based on final evaluation scores through two stages: document review and face-to-face evaluation. The final selection date is scheduled for the 19th of next month. Selected companies will begin residency in July and will operate as the first cohort of Fintech Cube companies for six months until December. The residency period can be extended by one year through review.

A representative of K Accelerator said, "Fintech Cube is a program that supports office space and professional acceleration for the growth of fintech startups. Through this, we aim to scale up promising Korean fintech startups and nurture unicorn companies through investment attraction and overseas expansion."

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