IBK Industrial Bank, 63 Innovative Startups Graduate from 'IBK Changgong' Program in First Half of the Year

225 Billion KRW Investment Over 5 Months, 10.2 Billion KRW Loan for Record-High Financial Support

On the 16th, at the IBK Changgong Guro Center, incubating companies and related personnel are taking a commemorative photo at the 'IBK Changgong Guro 3rd Term Completion Ceremony.'

[Asia Economy Reporter Kangwook Cho] IBK Industrial Bank announced on the 17th that it held a graduation ceremony for the 'IBK Changgong (創工)' Guro Center on the 16th, concluding the support for the startup incubation program in the first half of 2020.

At the graduation ceremonies held at each center, a total of 63 companies from Mapo 4th batch, Busan 2nd batch, and Guro 3rd batch received certificates of completion.

Starting with Mapo in 2017, IBK Industrial Bank opened IBK Changgong centers in Guro and Busan, nurturing 182 companies up to the first half of this year. It provided financial services such as investment and loans amounting to 126.3 billion KRW, and non-financial services including mentoring, consulting, and IR a total of 2,178 times.

Additionally, in the second half of this year, IBK Industrial Bank selected 61 startup companies and is operating programs with professional accelerator organizations. NPFifteen Partners provides one-on-one customized mentoring for selected companies at the Mapo Center, CNT Tech at the Guro Center, and iPartners at the Busan Center.

Yoon Jong-won, President of IBK Industrial Bank, stated, "Through a support system tailored to the growth stages of startup companies, we provide customized programs for prospective entrepreneurs and companies aiming for overseas expansion. We will contribute to establishing a virtuous cycle structure in the startup ecosystem by offering systematic support including financial and non-financial services even after graduation."

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