"Startups Within 3 Years of Establishment, Gather"… Shinbo Recruiting 12th Class of 'Startup Nest'

Selection of 80 Companies by the 28th... One-Stop Support for Financial and Non-Financial Sectors

[Asia Economy Reporter Minwoo Lee] The Korea Credit Guarantee Fund (KODIT) is launching a new recruitment for 'Startup Nest,' which provides various financial and non-financial support to startups within three years of establishment.

KODIT announced on the 14th that it will recruit companies wishing to participate in the 12th term of 'Startup Nest' until the 28th of this month.

The recruitment target is startups within three years of establishment (including prospective entrepreneurs) engaged in innovative growth sectors related to the 4th Industrial Revolution. KODIT plans to select a total of 80 promising startups and provide a systematic nurturing program from August to October.

The recruitment will be conducted through four selection tracks. The existing fintech (finance + technology) special track has been reorganized into a deep tech special track, focusing on future core technology fields that require concentrated policy financial support, and the proportion of the social venture track has been expanded to increase support in the ESG (environment, social, governance) sector.

Selected companies in Startup Nest can receive financial support such as guarantees and investments, as well as non-financial services including overseas expansion and startup space support all at once. Additionally, KODIT will hold the 'YouConnect' demo day, its own investment attraction platform, regularly and provide customized services by growth stage and company characteristics in collaboration with the Korea Trade-Investment Promotion Agency (KOTRA), Creative Economy Innovation Centers, and large corporations.

As of April, 1,060 promising startups that completed acceleration have received KRW 245.2 billion in credit guarantees and KRW 25 billion in direct investments. Detailed information can be found on the KODIT website and the government startup support portal 'K-Startup.' Applications can be submitted through the 'ShinboON-Biz' website.

A KODIT official stated, "Up to the 11th term, a total of 6,325 companies have applied for Startup Nest, showing a high interest with an average competition rate of 6.5 to 1," and added, "We look forward to the active participation of excellent startups dreaming of greater leaps by utilizing KODIT's nurturing programs."

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