Record "Gibo Venture Camp Establishes Itself as a Cradle of Innovative Startups"
Comprehensive Support for Early-Stage Startups Including Education, Guarantees, Investment, and Venture Certification
[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter Kibo) announced on the 20th that since introducing the Kibo Venture Camp in the second half of 2017 to support early-stage startups with innovative technologies, it has discovered 290 companies and established itself as a cradle of innovative entrepreneurship.
The Kibo Venture Camp is an accelerating program that focuses on nurturing and supporting nascent ventures. For participating companies that wish to join, networking days are held to connect them with private accelerators and venture capitalists, thereby driving successful startups and contributing to the creation of quality jobs.
Since the initial introduction of the Venture Camp, Kibo has discovered a total of 290 companies, provided guarantees worth 37 billion KRW to 191 of them, directly invested 2.4 billion KRW in 12 companies, and certified 141 companies as venture businesses, offering comprehensive support through a two-track system of financial and non-financial assistance.
Im Hyung-bin, CEO of Da Technique, which developed a smart helmet applying navigation to motorcycle helmets using virtual reality, said, "Although we succeeded in product development with our own technology, we faced difficulties in securing funds necessary for commercialization. Through the Kibo Venture Camp, we received accelerating education and initial commercialization funding, enabling us to successfully mass-produce the product."
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Baek Kyung-ho, director of Kibo, stated, "Kibo is continuously striving to expand preferential support systems for companies participating in the Kibo Venture Camp to nurture early-stage startups with excellent technologies. Through this, we will actively support the growth of Kibo Venture Camp participants into star venture companies leading the construction of a smart Korea."
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