Fostering Agribusiness Startups... Korea Social Investment's 'AgriFuture' Successfully Concluded
Direct Investment of 500 Million KRW in Promising Companies
Follow-up Investment of 2.2 Billion KRW Raised by Participating Companies
Korea Social Investment announced on the 15th that it has successfully completed the ‘2024 Private Sector Excellent Technology Commercialization Support Project Agri-Future’ in collaboration with the Korea Agricultural Technology Promotion Agency.
The scene from the '2024 Private Excellent Technology Commercialization Support Project AgriFuture' Demo Day held on the 14th by Korea Social Investment and Korea Agricultural Technology Promotion Agency. Photo by Korea Social Investment
View original imageThis project was initiated to discover and nurture agricultural industry companies possessing excellent private sector technologies. The final selected companies include a total of 10 firms: ‘Rowein’, ‘Beyond Robotics’, ‘EX Healthcare’, ‘Earthform’, ‘Ravainsect Company’, and ‘Transfarmer’, among others. They received a total of 70 million KRW in initial commercialization support funds over approximately 30 weeks, along with basic and advanced education, company-specific management diagnosis, and mentoring.
Korea Social Investment made a direct investment of 500 million KRW in promising companies from this project, and all participating companies attracted follow-up investments totaling 2.2 billion KRW. Both organizations plan to continue strengthening the project to develop the domestic agricultural industry ecosystem.
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Lee Sun-yeol, CEO of Korea Social Investment, stated, “Through this project with the Korea Agricultural Technology Promotion Agency and the foundation, we are increasing the commercialization achievements of participating companies by linking with private investment, and we feel great fulfillment in contributing to the development of the domestic agro-food industry. Korea Social Investment will continue to pay close attention to technology commercialization in the agro-food industry to contribute to major domestic and international issues such as food security and environmental problems.”
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