IBK Industrial Bank, Startup Incubation Program 'IBK Changgong Busan' Demo Day Held
14 Companies Participate... Conducted Simultaneously Online and Offline to Prevent COVID-19 Spread
[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 28th that it held a demo day for the startup incubation program ‘IBK Changgong (創工) Busan’ at the Paradise Hotel in Busan.
The demo day is the final stage of IBK’s startup incubation program ‘IBK Changgong,’ where Changgong companies introduce their products and business models to investors and outsiders to attract investment. Fourteen companies from the 2020 first and second half cohorts of ‘IBK Changgong Busan’ participated in this event.
To prevent the spread of COVID-19, the event was held simultaneously online and offline in accordance with social distancing level 1 guidelines. Only the minimum personnel such as presenters from participating companies and investors attended the offline venue, while other related organization officials and general participants joined via live online streaming.
An IBK official stated, “We plan to continue providing support by creating opportunities for investment attraction and networking even for Changgong graduate companies,” adding, “We will strengthen support according to the growth stages of startups and diversify the operating models of IBK Changgong to fulfill our role as a specialized venture capital bank.”
Through IBK Changgong, IBK Industrial Bank has nurtured a total of 243 companies by September this year and supported financial services such as investment and loans worth 157.1 billion KRW, as well as 2,877 non-financial services including mentoring and consulting.
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IBK is also recruiting ‘IBK Changgong 2021 First Half Innovative Startup Companies.’ About 20 companies each are being selected at the Mapo, Guro, and Busan centers, totaling around 60 companies. Applications can be submitted through the IBK Changgong website until November 5.
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