Korea Credit Guarantee Fund Opens Applications for 11th Cohort of Startup NEST, a Startup Incubation Platform
Selection of 120 Promising Startups Within 3 Years of Establishment Operating in Innovative Growth Fields Related to the 4th Industrial Revolution
One-Stop Provision of Financial and Non-Financial Services
[Asia Economy Reporter Sim Nayoung] The Korea Credit Guarantee Fund announced on the 24th that it will recruit companies wishing to participate in the 11th term of ‘Startup Nest’ until the 10th of next month.
The target for this 11th recruitment is startups established within 3 years (including prospective entrepreneurs) operating in innovative growth fields related to the 4th Industrial Revolution. A total of 120 promising startups will be selected through four tracks, including the social venture track and fintech special track, and a systematic nurturing program will be conducted from April to July.
‘Startup Nest’ is a startup nurturing platform that provides step-by-step support of ‘accelerating → financial support → growth support’ in collaboration with 10 of the best private accelerators in Korea, based on the Korea Credit Guarantee Fund’s accumulated experience in supporting startups.
The Korea Credit Guarantee Fund provides selected companies with one-stop financial support such as guarantees and investments, as well as non-financial services including overseas expansion and startup space support.
In particular, it holds the demo day of its own investment attraction platform ‘YouConnect’ both online and offline on a regular basis, and plans to support customized services by growth stage and company characteristics in connection with KOTRA, Creative Economy Innovation Centers, and large corporations.
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
A Korea Credit Guarantee Fund official stated, “Up to the 10th term, a total of 5,679 companies have applied to Startup Nest, showing high interest with an average competition rate of 6.6 to 1. We have discovered 1,080 promising startups and supported KRW 222.9 billion in credit guarantees and KRW 22.2 billion in direct investments, establishing it as a leading domestic startup nurturing platform.” He added, “The Korea Credit Guarantee Fund will continue to actively support excellent startups so that they can leap onto a full growth trajectory.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
