IBK, Recruitment of Innovative Startups for the First Half of 2021
Fostering Over 60 Startup Companies in Mapo, Guro, and Busan from January to May Next Year
[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced that it will begin recruiting innovative startup companies for the first half of 2021 under its startup incubation program, ‘IBK ChangGong (創工),’ starting from the 6th.
The recruitment target is companies that have been established for less than seven years. Through a first-round document review and a second-round face-to-face evaluation, about 20 companies will be selected at each of the three centers in Mapo, Guro, and Busan, totaling approximately 60 companies. The application period runs until November 5, and the final selected companies will be announced in mid-December.
The incubation period is from January to May 2021. IBK Industrial Bank will support the selected companies with ▲ office space in the form of shared offices ▲ one-on-one dedicated mentoring ▲ demo days for investment attraction ▲ and domestic and international market development.
Companies selected as outstanding will also receive financial support such as direct investment from the bank or investment using IBK Financial Group’s early-stage investment funds.
IBK ChangGong is IBK Industrial Bank’s startup incubation program. Starting with the Mapo Center, which opened in December 2017, it currently operates three centers in total: Mapo, Guro, and Busan. So far, it has supported a total of 243 innovative startups with 157.1 billion KRW in investments and loans, and approximately 2,877 cases of consulting and mentoring.
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An IBK Industrial Bank official stated, “Through ‘innovative finance,’ we will lead the venture capital market, strengthen the bank’s competitiveness by taking the lead in establishing a comprehensive support system for each stage of corporate growth, and drive changes in the banking industry.”
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