StarVenture Partners Signs Business Agreement with SK Securities to Discover and Support Promising Startups

Partnering with SK Securities to Discover and Invest in Innovative Startups Annually

StarVentures signed a business agreement for startup support on the 25th at the SK Securities headquarters in Yeongdeungpo-gu, Seoul. Photo by StarVentures.

[Asia Economy Reporter Park Jihwan] 'Star Ventures' has partnered with SK Securities to launch an innovative startup support project aimed at discovering technology-based promising startups and helping them grow into unicorn companies.

Star Ventures announced on the 26th that it has agreed to establish a joint cooperation system with SK Securities to discover and support promising startups annually, providing a growth ladder for young people’s job creation and startup teams with innovative ideas. The two companies signed a 'Startup Support Business Agreement' on the 25th at SK Securities headquarters located in Yeongdeungpo-gu, Seoul.

Star Ventures will work closely with SK Securities to focus on discovering early-stage startups with high growth potential. Through its own domestic and international top investment networks and platforms for technology commercialization, legal, accounting, and PR marketing, it will systematically provide core programs necessary for technology startups?from specialized education and expert mentoring to staged investment attraction?helping them leap to unicorn status.

SK Securities is one of Korea’s leading corporate finance (IB) specialized securities firms. Since being reselected as a securities firm specialized in small and medium enterprises (SMEs) in May 2020, it has been actively conducting new technology startup support projects through investment finance funds and new technology business finance. A 'securities firm specialized in SMEs' selects technology-capable small and venture companies, expands their funding, and provides customized IB services.

According to the Ministry of SMEs and Startups, the number of startups in Korea reached 1,484,667 in 2020, a 15.5% increase from the previous year, but the five-year survival rate was only 29.2%, significantly lower than the OECD major countries’ average survival rate of 41.7%. This year, the survival rate of startups is expected to decline further due to the ongoing COVID-19 pandemic for the third consecutive year.

Moon Ji-eun, CEO of Star Ventures, said, "To build a competitive innovative venture ecosystem, we judged that technology-based startups must be actively supported based on open innovation, which led to signing the technology startup support business agreement with SK Securities." She added, "Through Star Ventures’ differentiated customized coaching programs and investment attraction support, we will focus on nurturing prospective unicorn companies that will leap into the global market."

Star Ventures is a technology startup unicorn nurturing company. It discovers technology startups with high growth potential and provides various support programs to help them grow into unicorn companies through investment, education, and mentoring by experts in each field and partner companies.

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