IBK Industrial Bank, 'IBK Changgong' Recruiting 55 Innovative Companies for First Half of 2022
Support for Investment and Financing, Management Consulting, and Office Space
[Asia Economy Reporter Kim Jin-ho] IBK Industrial Bank announced on the 13th that it has begun recruiting innovative startup companies for the first half of 2022 through its startup incubation platform, ‘IBK ChangGong (創工)’. IBK ChangGong is an incubation platform that supports the successful scale-up of startup companies.
The recruitment target is companies that have been established for less than 7 years. The bank will select a total of about 55 companies to be incubated at three centers: Mapo (20 companies), Guro (20 companies), and Busan (15 companies) through a first-round document evaluation and a second-round face-to-face evaluation. The application period is until the 16th of next month, and the final selected companies will be announced in December.
Interested companies can apply through the IBK ChangGong website. The website provides services such as a self-diagnosis kit for companies to check and analyze their status, customized solution proposals, and information on the latest trends and support projects by sector.
Selected companies will receive support including office space, one-on-one dedicated mentoring, and investment attraction demo days for five months starting from January next year. In addition, outstanding companies will be selected to receive financial support through direct investment by the bank or indirect investment using funds invested by the bank.
An IBK Industrial Bank official said, “We will provide customized financial and non-financial services tailored to the status of the final selected companies,” adding, “We plan to actively contribute to creating a startup growth ecosystem by introducing a support system according to the growth stages of startup companies.”
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Meanwhile, through the operation of IBK ChangGong, IBK Industrial Bank has supported a total of 369 incubated companies with 363.7 billion KRW in investments and loans, and about 4,932 cases of consulting, mentoring, and investor relations (IR) events to date.
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