IBK Industrial Bank Hosts Online Demo Day for 'IBK Changgong Mapo'

IBK Changgong Mapo 5th Batch: 12 out of 19 Companies Pitching
Overseas VC Participation to Support Startups' Global Expansion

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 24th that it will hold an online demo day for its startup incubation program ‘IBK Changgong Mapo’ on the 3rd of next month.

The demo day is the final stage of the IBK Changgong accelerating program, with 12 companies from the 5th batch of IBK Changgong Mapo participating in pitching. To prevent the spread of COVID-19, the event will be held online in accordance with the government’s social distancing level 2 guidelines and will be broadcast live. Notably, overseas venture capitalists (VCs) will also participate to support ‘IBK Changgong’ companies planning to expand abroad.

An IBK Industrial Bank official stated, “Even after the demo day, we plan to continue supporting IBK Changgong companies’ growth through corporate promotion and market development,” adding, “We will also expand the global Changgong program for innovative startups aiming for overseas expansion.”

Meanwhile, IBK Changgong is a startup incubation program that provides financial and non-financial services such as investment and loans, consulting, and office space to startups. It operates in three locations: Mapo, Guro, and Busan. From December 2017 to the end of last October, it supported 243 incubated companies with financial services including investment and loans totaling 163 billion KRW, and non-financial services such as mentoring, consulting, and IR a total of 3,087 times.

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