KB Financial Group to Foster and Support Startups with 'Star' Program
[Asia Economy Reporter Buaeri] KB Financial is launching support for startups.
On the 8th, KB Financial announced that it signed a memorandum of understanding (MOU) with the Korea Institute of Startup & Entrepreneurship Development under the Ministry of SMEs and Startups to foster and support startups, and launched the 'Star' program. Startups wishing to participate are being recruited.
The Star program aims to nurture companies that can grow into unicorns. It offers benefits from the 'Startup Leap Package - Large Corporation Collaboration Program' and KB Financial's startup nurturing program 'KB Starters' together.
Selected companies in the Star program will receive collaboration opportunities with KB Financial affiliates, internal and external expert management consulting, investment attraction, global expansion, and recruitment support. In the future, they can move into a dedicated startup space located in Gangnam, and receive funding support of up to 300 million KRW from the Startup Promotion Agency.
The program targets fintech, insurtech, proptech, and other financial sector startups in their leap phase between 3 to 7 years after founding. The Korea Institute of Startup & Entrepreneurship Development and KB Financial will jointly evaluate applicants and select a total of 15 companies. Startups wishing to participate can apply through the 'K-Startup' website by the 28th.
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Meanwhile, KB Financial has invested a total of 106.2 billion KRW at the group level in 156 selected 'KB Starters' to date. The company stated that it is creating innovative financial services through 222 business partnerships based on cooperation and mutual growth with affiliates. A representative example is the 'AI Bank Teller' developed jointly with DeepBrain AI.
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