IBK, Launches Support for 56 Innovative Startup Companies in the First Half of the Year

First Half of 2022 'IBK ChangGong'
56 Companies Selected in Mapo, Guro, and Busan
Startup Incubation Program Runs for 5 Months from January

The photo shows participating companies and stakeholders taking a commemorative photo after the entrance ceremony held on the 6th at IBK Changgong Mapo.

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 7th that it has finalized the selection of innovative startups for the first half of 2022 ‘IBK Chang-gong’ and will begin a five-month startup incubation program.

In the first half of 2022, out of about 600 startups that applied, 56 companies (20 for Mapo 8th batch, 20 for Guro 7th batch, and 16 for Busan 6th batch) were selected, overcoming a competition ratio of approximately 11 to 1. The selected companies were mostly in the fields of information and communication (25%) and health and diagnostics (23%). Companies related to digital and AI, which have attracted attention amid the COVID-19 situation, as well as bio and digital health companies, made up the majority.

IBK Chang-gong provides customized programs for each company after preliminary diagnostic evaluations by internal and external experts of the bank. In addition, to help companies achieve efficient results, close mentoring is provided by dedicated mentors, dedicated managers, professional consultants, and external experts.

Furthermore, IBK Industrial Bank plans to support various non-financial services such as demo days, IR, office space, market development, and promotional support along with investment and loan financial services. Based on business agreements signed with related organizations such as the Korea Federation of Medium-sized Enterprises and the Korea Telecommunications Operators Association, active networking opportunities will also be provided.

At the orientation ceremony held in compliance with quarantine guidelines to prevent the spread of COVID-19, introductions to the IBK Chang-gong program and professional accelerator institutions were made, along with networking among the finally selected innovative startups. A bank official stated, “IBK plans to actively contribute to creating a startup growth ecosystem by introducing a support system tailored to the growth stages of startup companies.”

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