Kyobo Life Insurance Accelerates Future Generation Development with Digital-Based Social Contribution Model

ImpactUp 3rd Demo Day Held... 5 ICT-Based Startups Share Business Achievements

At the '2020 Impact Up Demo Day' held at the Life Insurance Education and Culture Center in Jongno-gu, Seoul, Kyung-sik Cha, Head of Kyobo Dasom Support Center at Kyobo Life Insurance (right), Kyung-hwan Go, Chairman of Honghap Valley (second from right), and startup CEOs are taking a commemorative photo.

[Asia Economy Reporter Ki Ha-young] Kyobo Life Insurance is accelerating the creation of an ICT-based impact investment ecosystem to nurture future generations.

Kyobo Life Insurance announced on the 17th that it held a demo day with five selected companies from the ‘2020 Add Impact to the World, Impact Up (Impact Up)’ program at the Life Insurance Education and Culture Center in Jongno-gu, Seoul.

‘Impact Up’ is a project that discovers and nurtures startups creating social value in fields such as education, environment, and welfare for vulnerable future generations, including children and adolescents.

Since 2018, Kyobo Life Insurance has been running the ‘Impact Up Project,’ a new social contribution model combined with digital technology, in partnership with the Honghap Valley Foundation. Kyobo Life Insurance is the first domestic company to discover ICT-based social enterprises for youth development.

This demo day was organized to present the business performance of the third batch of Impact Up companies and share their future growth plans. The goal is to help impact companies sustain growth and activate a virtuous cycle ecosystem of impact investment.

Over the past two years, Kyobo Life Insurance has nurtured eight companies whose core businesses are ICT-based digital products and services. This year, five impact companies were selected and provided with coworking space support, business investment, and expert mentoring and education/networking programs in legal affairs, accounting, IR, and marketing.

The results of the acceleration of the five startups were revealed through the demo day.

The demo day winner was ‘Naseukeu.’ ‘Naseukeu’ received high praise for presenting a children’s smart school commute safety solution using ICT. Following that, ‘Jinwon Onwon,’ which introduced health food for infants and children with developmental disabilities based on gut microbiome genes, won the grand prize, and ‘Catch It Play,’ which introduced a gamified English learning platform for children and adolescents, received the excellence award.

‘Mflare’ presented an online creativity education solution for children, and ‘Nappeun Gieok Jiugae’ attracted attention by launching an anonymous messenger for Generation Z to share their worries.

Impact Up has been recognized for innovating the existing social contribution framework and has become a benchmarking target for other large corporations. Kyobo Life Insurance continues to provide products and services introduced through startup nurturing to future generations.

Cha Kyung-sik, head of the Kyobo Dasomi Support Center at Kyobo Life Insurance, said, “Impact Up aims to provide startups with growth opportunities through practical consulting and investment,” adding, “We will lead efforts to create social value for future generations and establish a virtuous cycle ecosystem of impact investment.”

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