Shinhan Bank Launches 'Shinhan Open Innovation' to Scale Up Startups

A Bridge Matching Tech-Driven Startups in Fintech and AI with Demand Companies
Shinhan Financial, Good Neighbors Global Impact, KT CS, Halla Group, Commax & Commax Ventures Participate

[Asia Economy Reporter Kangwook Cho] Shinhan Bank announced on the 8th that it will launch 'Shinhan Open Innovation,' a program that connects startups with technological capabilities to companies with technology demands.

'Shinhan Open Innovation,' first introduced under the new brand of the innovative growth platform project 'Shinhan Square Bridge (S² Bridge),' is a program aimed at scaling up startups by matching technology demands. Through this, Shinhan Bank expects that companies with technology needs will adopt new technologies based on the 4th industrial revolution, and startups will be able to establish a foundation for business expansion through collaboration with large and medium-sized enterprises.

Shinhan Square Bridge evolved from 'Shinhan Do Dream Space,' a job-culture convergence platform supporting youth employment and entrepreneurship, into a more advanced startup nurturing platform to drive innovative growth of startups. Going forward, various programs to revitalize the startup ecosystem such as ▲startup incubating ▲accelerating ▲job matching ▲creator education will be planned and operated here.

Five companies including Shinhan Financial Group, Good Neighbors Global Impact, KT CS, Halla Group, and Commax & Commax Ventures are participating in this 'Shinhan Open Innovation,' exploring the possibility of technology linkage with startups in various fields such as ▲fintech ▲artificial intelligence (AI) & big data ▲energy ▲smart city & factory ▲edutech ▲mobility ▲innovative business models.

The participating startups will have the opportunity over 12 weeks to assess the market status of their proprietary technologies and examine commercialization potential through ▲technology and business advancement consulting ▲online and offline capacity-building lectures ▲workshops with on-site technical managers.

Additionally, startups will be evaluated based on attendance, number of consultations, sincerity in educational participation, and final presentations, with the top selected teams receiving a total prize of approximately 100 million KRW.

A Shinhan Bank official stated, "The 'Shinhan Open Innovation' program is the only one that directly supports technology linkage between startups and medium to large enterprises for scaling up startups," adding, "We hope that this open innovation will activate technology linkage and business expansion between startups and large companies, bringing vitality to the entire industry."

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