Shinhan Financial Group Successfully Completes '2021 Incubation Program' at Shinhan Square Bridge Seoul

Fostering 38 Startups That Overcame a 12:1 Competition Ratio Among 456 Supported Companies

Participants of the 2021 Shinhan Incubation Program Demo Day are taking a commemorative photo.

[Asia Economy Reporter Kwangho Lee] Shinhan Financial Group announced on the 25th that it successfully concluded the '2021 Shinhan Incubation Program' with the 'Incubation 7th Batch Demo Day' event at Shinhan Square Bridge Seoul, a startup nurturing platform.

The Shinhan Incubation Program is a startup nurturing program that has been conducted at Shinhan Square Bridge Seoul since 2018.

Shinhan Financial supports startups selected for the Shinhan Incubation Program by providing four months of management analysis and coaching to help increase sales and attract investment, and awards prizes to outstanding startups.

This year, three batches were operated: Incubation 6th and 7th batches, and Social Venture Incubation 1st batch. Out of a total of 456 applicant companies, 38 startups were selected and nurtured after overcoming a competition rate of 12 to 1, and a total prize of 220 million KRW was awarded to 9 startups selected through the demo day.

Outstanding teams included Business Canvas, which provides the knowledge management-based document tool Typed, Sizzle, which operates a smart factory process analysis platform, and SellerNote, which runs the digital import logistics forwarding service ShipDa from the 6th batch. From the 7th batch, H.B. Smith, which operates an AI QA test SaaS solution, Javer, which provides electronic contract services, Smatus Korea, which develops and manufactures home oral diagnostic devices, and Unique Good Company, which operates the augmented reality metaverse content Real World, were selected.

For the Social Venture Incubation 1st batch, Reharvest, an eco-friendly food manufacturing and distribution company specializing in byproduct upcycling, and Disabled, an agency supporting continuous activities of artists with developmental disabilities, were selected.

A Shinhan Financial Group official said, "Through the Shinhan Incubation Program, we are providing practical support so that startups can move on to the next stage," adding, "We will continue to do our best to help startups achieve various results such as scale-up and investment attraction through Shinhan Square Bridge."

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