IBK ChangGong and Busan Research and Development Special Zone Hold Event for Innovation Company Growth
Financial Institutions, Universities, Research Institutes, and SMEs Collaborate to Support Growth of Innovative Startups
[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank's startup incubation platform ‘IBK Changgong’ announced on the 5th that it held an open innovation event for the growth of innovative companies at the Paradise Hotel in Haeundae, Busan, together with the Busan Research and Development Special Zone.
The open innovation event was a venue where eight innovative startup companies nurtured by the two organizations participated to explore investment attraction and collaboration plans with medium-sized and small enterprises. For outstanding innovative companies, IBK will provide financial services, the Busan Research and Development Special Zone will support technology transfer through public technology linkage, and Ulsan National Institute of Science and Technology (UNIST) will support technology commercialization research and development (R&D) through industry-academia cooperation.
This event was a follow-up measure to the memorandum of understanding (MOU) signed between IBK Changgong and the Busan Research and Development Special Zone in October last year, with about 70 participants including representatives from IBK Industrial Bank, the Busan Research and Development Special Zone, UNIST, and outstanding medium-sized and small enterprises.
IBK Changgong is a startup incubation platform that supports innovative startup companies with investment and loans, consulting, office space, and more. It operates in three locations: Mapo, Guro, and Busan, and since December 2017, it has provided financial services such as investment and loans totaling 294.2 billion KRW and non-financial services such as mentoring and consulting 4,256 times to 307 graduated companies.
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A representative from IBK Industrial Bank said, “In a situation where exchanges within the startup industry have stagnated due to COVID-19, we held this event to overcome the limitations of the startup ecosystem concentrated in the metropolitan area and to support innovative startups based in local regions,” adding, “We plan to additionally open ‘IBK Changgong Daejeon’ in the Daedeok Research and Development Special Zone in the second half of this year.”
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