Shinhan Credit Guarantee Fund Opens Applications for 8th Cohort of Startup NEST, a Startup Incubation Platform
Selection of 100 Innovative Startups in 4 Sectors Including Fintech and Social Ventures
Providing Financial and Non-Financial Services Such as Guarantees, Investment, Acceleration, and Overseas Expansion
[Asia Economy Reporter Park Sun-mi] The Korea Credit Guarantee Fund announced on the 3rd that it is recruiting innovative startups and prospective entrepreneurs who wish to participate in the 8th batch of 'Startup Nest' until the 19th.
Eligibility includes startups established within the last 3 years (including prospective entrepreneurs) operating in innovative growth sectors related to the 4th Industrial Revolution. A total of 100 innovative startups will be selected, including about 25 non-metropolitan companies, about 10 social venture companies, and about 5 fintech 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 in a one-stop manner through connections with related organizations such as overseas expansion specialized institutions, large corporations, and Creative Economy Innovation Centers.
Startup Nest is a startup nurturing platform that selects promising startups and provides step-by-step support including acceleration, financial support, and growth support. Up to the 7th batch, the Korea Credit Guarantee Fund has discovered a total of 560 promising startups, providing KRW 153.8 billion in credit guarantees and KRW 11.9 billion in direct investments, and has led follow-up investments of KRW 78.8 billion in connection with private venture capital.
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A representative from the Korea Credit Guarantee Fund stated, “Startup Nest has established itself as a leading domestic startup nurturing platform based on unprecedented financial support and various customized non-financial support," adding, “We will spare no effort to serve as a stepping stone for startups to leap onto a full-fledged growth trajectory.”
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