Venture Business Association: "Senior Entrepreneurs Step Up to Support Junior Companies"
Formation of 'KOVA Individual Investment Association No. 1'
On the 13th, Kang Sam-gwon, Chairman of the Korea Venture Business Association (right), and Kim Sun-oh, CEO of Geumseong Bolt Industry, formed the 'KOVA Private Investment Association No. 1' to foster junior companies and are taking a commemorative photo.
View original image[Asia Economy Reporter Kim Cheol-hyun] The Korea Venture Business Association (Chairman Kang Sam-kwon) announced on the 13th that it has established the 'KOVA Private Investment Association No. 1' to enable senior companies to proactively discover, nurture, and invest in junior companies.
The Korea Venture Business Association and Venture Box Co., Ltd. jointly participated as managing partners, while senior entrepreneurs such as Chairman Kang Sam-kwon (Point Mobile) and Senior Vice Chairman Kim Sun-oh (Geumseong Bolt Industry) participated as general partners.
The goal of KOVA Private Investment Association No. 1 is for senior entrepreneurs to participate as angel investors to discover junior companies with high growth potential and nurture them into excellent venture companies through the association’s network and linked business support. It plans to discover and invest in outstanding startups that have been operating for less than three years and are participating in the association’s startup support projects.
In particular, senior entrepreneurs plan to actively support the growth of junior companies by providing not only personal investment but also mentoring (expertise and know-how), infrastructure linkage, and new business discovery channels. Kang Sam-kwon, chairman of the Korea Venture Business Association, said, "We will operate the investment association to invest in junior companies that can create synergy with the association, contribute to the spread of a virtuous cycle model in the venture ecosystem, and have a positive impact on the industry." He added, "Starting with this, we plan to continuously establish investment associations so that alumni of the Innovation Venture Academy, senior entrepreneurs from nationwide branches, and honorary executives of the association can actively participate in nurturing junior companies."
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Chairman Kang also added, "We will create an environment where senior entrepreneurs can continuously invest and participate by jointly establishing the investment association with Venture Box, which operates multiple investment associations, to secure expertise and reduce risks in the investment process."
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