Gangwon Innovation Center Discovers Gangwon-do Venture Companies... 170 Billion KRW Investment

Operation of three funds including 'Gangwon-type Venture Fund' and 'Gangwon Youth Startup Fund No.1'

Gangwon Youth Startup Fund No. 1 Formation General Meeting [Provided by Gangwon Province]

[Asia Economy Reporter La Youngcheol] Gangwon Province has decided to create a venture fund worth 170 billion KRW over the next 10 years and support it through two plans.

According to the province on the 21st, the first phase of the 'Gangwon-type Venture Fund,' established in the first half of this year with a scale of 25 billion KRW, will operate three funds: 'Gangwon Youth Startup Fund No. 1' (5 billion KRW), 'Gangwon-type Venture Fund No. 1' (10 billion KRW), and 'No. 2' (10 billion KRW).

The 'Gangwon Youth Startup Fund No. 1,' which will begin full-scale operation, is jointly managed by 'Gangwon Innovation Center' and 'Sopoong Ventures,' targeting early and growth-stage venture companies in Gangwon Province.

The province plans to promote about 20 seed and pre-A stage investments targeting companies within the province, including technology-based startups, digital healthcare, liquefied hydrogen industry, and other strategic and specialized industries as well as regionally based startups.

Earlier, on the 20th, the Innovation Center held the inaugural general meeting for the formation of the 'Gangwon Youth Startup Fund No. 1' at Gangwon Innovation Center I-Square.

Center Director Han Jongho said, "Through this investment association, we have been able to discover promising venture companies in Gangwon Province and invest funds in a timely manner," adding, "We expect it to play a significant role in driving the growth of local companies and revitalizing the regional investment ecosystem."

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