Shinhan Financial Group Officially Launches 'Shinhan Futures Lab' 7-2nd Cohort... 28 Companies Selected

Cho Yong-byeong, Chairman of Shinhan Financial Group, is selecting and congratulating 28 companies in the 7-2th class of 'Shinhan Future's Lab,' a startup accelerator program.

[Asia Economy Reporter Kwangho Lee] Shinhan Financial Group announced on the 20th that it has selected 28 companies for the 7-2nd batch of Shinhan Futures Lab, the first startup accelerator program in the domestic financial sector, and has begun full-scale nurturing.

Since the launch of the first batch in May 2015, Shinhan Futures Lab has discovered and nurtured a total of 250 innovative startups up to the 7-1st batch in the first half of this year, and has directly and indirectly invested a total of 42.7 billion KRW to date.

In this 7-2nd batch, startups with excellent technological capabilities in various fields such as fintech, content, big data, as well as ESG (environment, social, governance), metaverse, and healthcare, which Shinhan Financial Group is focusing on company-wide, applied in large numbers, resulting in a competition rate of about 25 to 1, showing fiercer competition than ever before.

Among the startups selected for the 7-2nd batch are Mangoslab, which provides adhesive memo printing solutions, and Zynapse, which produces AI virtual voice content. In the ESG sector, Fairlabs, an AI intangible asset value analysis platform; Quantified ESG, a small and medium-sized and unlisted company evaluation and research firm; and ATR, which visualizes consumer payment information as carbon emissions, were selected.

Selected companies for the 7-2nd batch will receive S-Membership benefits, which provide various programs such as startup stage-specific nurturing and investment, office space rental, and mentoring, as well as opportunities to expand their business through collaboration with Shinhan Financial Group affiliates and large corporate partners.

Especially this year, in addition to 15 partners from various fields such as Amorepacific and Hoban Construction, new partners such as LG Innotek have joined to jointly discover and nurture future unicorn companies.

Yongbyung Cho, Chairman of Shinhan Financial Group, said, "As Shinhan Futures Lab has established itself as Korea’s representative accelerating program, we plan to support more startups to grow into unicorn companies through more systematic and diverse nurturing and collaboration programs." He added, "We will provide various support programs according to the startup lifecycle, including growth through investment and nurturing, as well as IPOs and M&As."

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