"Active Support for Gyeongbuk Startups" ... Investment Briefing Held in Pohang with 60 Participants on 21-22

The scene from the Gyeongbuk Startup Investment Matching Day held in Pohang, Gyeongbuk, last October.

[Asia Economy Yeongnam Reporting Headquarters Reporter Koo Dae-sun] The ‘Gyeongbuk Startup Investment Matching Day’ organized by Gyeongbuk Province will kick off at 3 p.m. on the 20th at the Pohang Change-up Ground inside Pohang University of Science and Technology (POSTECH).

This event, held over two days until the 21st, involves participation from venture capitalists (VCs), the Korea Accelerator Association, the Venture Association, the Daegu·Gyeongbuk Regional Small and Medium Venture Business Administration, research and development institutions, and startups and venture companies from the Gyeongbuk region.

Now in its fourth year, this event provides excellent venture companies in the Gyeongbuk region with opportunities for product exhibitions and investment consultations, and through audition IRs, allows them to directly promote themselves to well-known venture capitalists (VCs) in the Seoul metropolitan area, thereby offering networking opportunities for venture companies.

Sixty companies were selected through a preliminary evaluation committee’s review, and customized coaching for investment consultations and fundraising was conducted through two rounds of pre-education sessions.

On the day of the event, 23 companies will be introduced to 32 well-known investors (VCs, ACs) from the Seoul metropolitan area. Among the 60 companies, 21 that participated in the IR audition took part in a pre-event IR (corporate activity) day, where they conducted practical IR pitching in front of investors and received advice on areas needing improvement.

Son Eun-joo, CEO of Bio App (Pohang), will deliver the keynote speech titled ‘Accidental CEO,’ sharing experiences gained from running a venture company for 10 years. Additionally, Choi Sung-jin, CEO of Korea Startup Forum, is scheduled to give a lecture on ‘Startup Entrepreneurship and Entrepreneurial Spirit.’

On the second day, the 21st, specialized startup and venture investment training will be held for startup and venture support officers from cities and counties, research institutions, and university startup incubation center staff.

Participants include Choi Jae-won, CEO of Silicon Ventures; Kang Jung-hoon, Executive Director of Smilegate; Park Yoo-jin, Director of The Invention Lab; and Go Byung-chul, Vice President of POSTECH Holdings.

At the closing ceremony of this event, a ‘Gyeongbuk Startup Fund Investment Confirmation Ceremony’ will be held, showcasing the growth determination of venture companies in Gyeongbuk Province, with investors and promising companies that have received regional and external investments gathered together.

Participating companies in the ceremony include Mango Slab (Pohang), AN Poly (Pohang), Fresh Bell (Gyeongsan), Yeonggak Oilfield (Gyeongju), L&P (Gyeongsan), and Omnia Med (Pohang), six companies that have already received 5.25 billion KRW in regional funds and 26.6 billion KRW in external investments.

Lee Dal-hee, Deputy Governor for Economy of Gyeongbuk Province, will attend the ceremony and pledge, “An environment where venture companies and startups with ideas and technological capabilities are favored must be established,” adding, “We will continue to actively support these companies with high growth potential.”

Since enacting the ‘Gyeongsangbuk-do Startup and Venture Business Promotion Ordinance,’ Gyeongbuk Province has invested 6 billion KRW annually, providing multifaceted and diverse customized support such as innovative venture accelerating, strengthening the capacity of venture company cluster facilities, and industry-academia-research-linked venture technology commercialization under the GB Venture Unicorn Nurturing Project plan.

Along with the existing 96.1 billion KRW fund established to revitalize venture investment, a 29.5 billion KRW Gyeongbuk-type regional New Deal venture fund formed in July this year, totaling 125.6 billion KRW in funds, has been created to provide a staged investment environment from early to growth phases, focusing on nurturing local venture companies.

Lee Cheol-woo, Governor of Gyeongbuk Province, attending the opening ceremony, stated, “I hope this event leads to significant investments in local ventures and startups, providing opportunities for global expansion and growth into unicorn companies,” and added, “We will create a startup-friendly environment by developing various startup support programs and building infrastructure so that local prospective entrepreneurs can start and grow their businesses.”

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