Shinhan Financial Group Launches Korea's First Startup Accelerator 'Shinhan Futures Lab' Recruiting 6-2nd Cohort

Strengthening Startup Support with Newly Introduced 'S-Membership' Program
Participation Available from 10th to 22nd via Shinhan Financial Innovation Growth Platform 'Innotok'

[Asia Economy Reporter Kim Hyo-jin] Shinhan Financial Group's first domestic startup accelerator program, ‘Shinhan Futures Lab,’ will conduct recruitment for the second half 6-2 batch for two weeks starting from the 10th.

Shinhan Futures Lab has increased its selection and nurturing process from once a year to twice a year, in the first and second halves, starting this year to provide more opportunities to promising startups that can grow into the next unicorn companies.

The startups selected this time will receive more segmented support through the newly applied ‘S-Membership’ from the second half of the year. S-Membership is a program newly introduced by Shinhan Futures Lab to expand the startup ecosystem and systematically nurture and discover unicorn companies. Reflecting the diverse needs of startups recently, it is a system segmented into three areas: investment (LEAD), growth and nurturing (BUILD), and large corporation cooperation (CONNECT).

The LEAD membership is a program targeting startups that need capital attraction for a higher leap as unicorn companies. Through LEAD membership, Shinhan Futures Lab plans to actively support investment attraction from about 80 venture capital partner firms and provide various investment opportunities.

The BUILD membership is a program that helps startups establish foundations in various fields necessary for growth, such as HR and organization, marketing, strategy, and IR. Based on Shinhan Futures Lab’s startup nurturing know-how, full support is provided through various programs such as expert lectures and mentoring in each area.

In particular, selected companies will be able to utilize about 20 types of ‘Shinhan Futures Lab’ partner company package membership services, including office space, shared vehicles, employee training, and welfare malls, through the Benefit+Kit system.

Lastly, the CONNECT membership is a program where Shinhan Futures Lab jointly selects and nurtures startups with leading large corporate partners in Korea by sector. Large corporate partners from various fields such as mobility (Hyundai Kia Motors, Mercedes-Benz Korea), telecommunications (LG Uplus), distribution (GS Home Shopping), beauty (Amorepacific), education (Kyowon), bio (Celltrion), and social (SK) are expected to participate.

Startups selected by Shinhan Futures Lab will receive support for scaling up, including opportunities to collaborate with large corporate partners, discover new business items, and attract investments.

Especially, the 6-2 batch this time plans to select various startups possessing technologies needed in cooperation business areas to be conducted in the second half by Shinhan Financial Group companies and partners, such as deep tech areas including artificial intelligence (AI), notarization, data analysis, healthcare & insurtech, media content, commerce, and untact tech.

Recruitment will be open until the 22nd and applications can be submitted through the ‘InnoTalk website,’ Shinhan Financial’s innovation growth platform.

Meanwhile, Shinhan Futures Lab, the first accelerator program in the financial sector launched in 2015, has nurtured a total of 172 companies from the 1st to the 6-1st batch as a win-win platform combining finance and technology. It has conducted about 25.5 billion KRW of direct and indirect investments, including the ‘One Shinhan Futures Fund.’

A Shinhan Financial Group official stated, “Shinhan Financial plans to make ‘Shinhan Futures Lab’ a platform where startups, large corporations, and investors harmoniously coexist, leading the discovery of promising K-unicorn companies and supporting new growth industries.”

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