Gangwon-do Supports Investment Ecosystem for 'Venture Startup Companies'

Kangwon-type Venture Fund Raised 25.6 Billion Won · Startup-focused Universities Secured 39.8 Billion Won

Gangwon Provincial Government

[Asia Economy Reporter Ra Young-cheol] Gangwon Province is promoting the "Venture Startup Company Investment Ecosystem Support Project" this year to systematically support the self-sustaining capabilities of venture startup companies within the province and promote virtuous cycle investments.

According to the province on the 24th, customized expert consulting and mentoring support will be provided to 10 companies within the province, offering up to three on-site visits per company for solution provision.

For five companies, based on company characteristics and expert consulting results, company analysis, technology commercialization strategy planning, IR material preparation, and presentation coaching will be conducted.

The province will also operate the "Gangwon Investment Partners Day," where regional fund managers and companies regularly meet for investment consultations.

Starting in April, regular investment consultations will be held four times in total?in June, September, and December?with one-on-one in-depth investment consultations between investors and companies.

This allows companies to have in-depth meetings with one or two investors without the burden of IR presentations, increasing investment possibilities and encouraging voluntary participation to discover promising startup companies with potential.

A Gangwon Venture Forum will be held to revitalize the regional investment ecosystem and strengthen technology and investment networks among companies within the province.

By holding the Gangwon Venture Forum at least once a year, the province will discuss and discover policies to activate venture startups in Gangwon, support information exchange among companies, and build technology and investment networks, linking support and investment.

Investment and business incubation support will be provided once a year to 16 startup incubation centers and investment practitioners within the province to recommend excellent companies to investors and enhance their capabilities.

The province will receive 6 billion KRW annually for commercialization funds for startups at different growth stages (preliminary, early, and leap packages), and 1.5 billion KRW for operating startup programs and dedicated organization expenses, totaling 7.5 billion KRW in national funding each year.

Additionally, with an annual budget support of about 460 million KRW, a total of 39.8 billion KRW will be invested over up to five years in youth startup cultivation and the creation of a startup ecosystem.

Park Kwang-yong, Director of Corporate Support Division, said, "In addition to the 'Gangwon-type Venture Fund' established last year and the 'Gangwon New Deal Venture Fund' planned for this year, the selection of the 'Gangwon Region Startup-Centered University' will ensure substantial support and investment for venture startup companies."

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