InnoBiz Association Takes Steps to Secure R&D Funding for Technology Innovation Companies

'2024 INNO-Wave' IR Event Held

The INNOBIZ Association announced on the 19th that it held the '2024 INNO-Wave IR: INNOBIZ Scale-up IR' event to connect technology innovation companies with investment opportunities.

This event aims to discover outstanding INNOBIZ companies (including prospective ones) and provide practical investment linkage opportunities. It was held for the second time this year since its first launch in September last year.

At the '2024 InnoWave' event, attendees are taking a commemorative photo. From the fifth person on the left in the front row are Jeong Gwangcheon, President of the Inno-Biz Association, and Lee Sangchang, Executive Director of the Korea Technology Finance Corporation. (Photo by Inno-Biz Association)

Under the slogan "Riding the wave of technology innovation investment with INNOBIZ companies!", the event featured five outstanding INNOBIZ companies (including prospective ones), such as an AI and big data platform that developed AI Hunminjeongeum, an anti-money laundering solution related to financial compliance, a smart aquafarm for shrimp farming, a virtual technology-based education platform, and a human organ-on-a-chip platform company.

The event increased investment diversity by involving not only domestic venture capital evaluators from institutions such as the Korea Technology Finance Corporation Venture Investment Finance Center, DS Investment Partners, AJU IB Investment, Blissvine Ventures, Korea Bio Investment Partners, and Anda Asia Ventures, but also investment institutions like Hana Securities and Korea Science and Technology Holdings.

Jung Kwang-cheon, Chairman of the INNOBIZ Association, stated, “Companies that participated in the IR event last September have secured investments worth 3 billion KRW,” adding, “As times rapidly change, discovering companies with innovative thinking and customer-friendly technology bases is necessary for diverse customer groups. We will continuously hold IR events throughout the year to help INNOBIZ companies, the hidden champions, transform into new investment linkage business models.”

Meanwhile, the association, established in 2002, has grown into an institution that comprehensively supports the discovery and nurturing of INNOBIZ companies, including system management and extension evaluations. It currently manages about 22,500 certified companies and approximately 8,100 member companies.

Jung Kwang-cheon, who newly assumed the chairmanship in February this year, presented a vision to transform the association into an ‘R&D platform’ for INNOBIZ companies. Utilizing the association’s technology value evaluation capabilities, it is planning and proposing private-led R&D projects. Additionally, it will actively promote creating investment attraction opportunities so that INNOBIZ companies based on technological innovation can secure R&D commercialization funds necessary for growth and development.

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