Ministry of SMEs and Startups Holds Weekly Relay Online IR for 3 Months
[Asia Economy Reporter Moon Hyewon] The Ministry of SMEs and Startups announced that it will hold a weekly relay online investment briefing (IR) for three months targeting venture and startup companies in new medical products, untact, D.N.A, and BIG 3 sectors to revive the venture investment atmosphere weakened by the novel coronavirus infection (COVID-19).
The first online IR, held on the 28th, was prepared to attract investment in innovative companies targeting K-bio companies approved as new medical products by the Ministry of Food and Drug Safety, as a follow-up measure to the business agreement signed with the Ministry of Food and Drug Safety on the 12th.
The Ministry of SMEs and Startups selected 11 final presenting companies among those approved as new medical products by the Ministry of Food and Drug Safety, based on recommendations from the Korea Bio Association, a bio-specialized institution, and the Safety Evaluation Research Institute.
Among the 11 companies, 6 will participate in this IR, and the remaining 5 companies will participate in the next IR scheduled for the 5th of next month.
In the wake of the surge in overseas interest in K-bio after COVID-19, the Ministry of SMEs and Startups explained that the participation of overseas venture capitals such as Saudi Aramco Korea, which is based in Korea, and domestic venture capital bio sector reviewers makes this a meaningful and professional investment briefing.
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Jeon Sehee, Director of Investment Recovery Management at the Ministry of SMEs and Startups, said, “We hope that this online IR will lead to venture investment by recognizing the competitiveness and technological capabilities of K-bio companies. We also plan to hold online IRs targeting companies in regulatory free zones and regionally specialized companies, which have difficulty networking with venture capitals located in the metropolitan area.”
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