The Korea Insurance Development Institute Supports Youth Innovative Startups as a 'Startup Nest'

The Korea Non-Life Insurance Association announced that the performance sharing meeting for the youth innovative startup support project "Startup Doongji," operated by the Non-Life Insurance Social Contribution Council, was held as a non-face-to-face video conference on the 14th.

[Asia Economy Reporter Oh Hyung-gil] The Korea Non-Life Insurance Association announced that the performance sharing meeting for the youth innovative startup support project "Startup Dungji," operated by the Non-Life Insurance Social Contribution Council, was held on the 14th via a non-face-to-face video conference.

At the event, business performance presentations and evaluations by the judging panel were conducted for the 10 teams finally selected for the 4th Dungji cohort. Based on the evaluation results, a total of 200 million KRW in business support funds was provided, with 100 million KRW each for the Insurtech Lab and Growth Track categories.

The 10 teams selected demonstrated high growth potential by recording sales of 3.8 billion KRW and attracting investment funds of 1 billion KRW, based on their innovative ideas and outstanding technological capabilities.

Jung Ji-won, Chairman of the Korea Non-Life Insurance Association, stated, "Young entrepreneurs equipped with creative ideas and innovative technologies are the leaders of the post-COVID-19 era," adding, "We will always support the relentless challenges of young people who have passion for their dreams and infinite potential."

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