Korea Development Bank to Support 15 Startups Including AI... Establishes 5 Billion Won Fund

'NextOne' 10th Batch Startup Orientation
"Support for Investment Attraction and Business Linkage Provided"

Korea Development Bank announced on the 5th that it selected 15 startups for the 10th batch of its startup nurturing program, 'KDB NextOne,' and held an orientation on the 4th. The bank plans to support investment attraction for companies in fields such as artificial intelligence (AI). By establishing a fund worth 5 billion KRW, it aims to revitalize the early-stage venture ecosystem and continue fostering companies in national advanced strategic industries like semiconductors.

At the 'NextOne' fund formation ceremony supporting startups by the Korea Development Bank, attendees including Shin Hye-sook, Vice President of the Korea Development Bank (center), Jeon Hwa-seong, CEO of CNT Tech (left), and Heo Eun-kyung, CEO of BDC Accelerator (right) are posing for a commemorative photo. Photo by Korea Development Bank

The bank stated that a record-high 380 companies applied for the 10th NextOne batch. The competition rate was about 25:1. Innovative companies in fields such as AI, advanced manufacturing, environment, and knowledge services were selected. Most of these are early-stage companies within three years of founding.

The bank will operate a five-month first-half nurturing program at the startup support space, Mapo Front1. Selected companies will receive office space at Front1, dedicated mentoring, investor relations (IR) consulting, demo days, as well as support for investment attraction and business linkage. The program also includes global expansion support through overseas venture networks such as KDB Silicon Valley Corporation and participation support for overseas local exhibitions.

KDB will assist startups in attracting investment through its venture investment platform, KDB NextRound. Business cooperation support will be provided through NextRise, the largest startup expo in Korea. Growth support efficiency will be enhanced by linking mergers and acquisitions (M&A) consulting and growth strategy consulting.

The bank also held a formation ceremony for the 5 billion KRW KDB NextOne fund the day before. KDB invested 1.4 billion KRW in the fund. Private accelerators such as CNT Tech and VDC Accelerator also participated in the investment. The fund mainly invests in NextOne alumni companies to expand the program’s investment function. Additional funds will be raised in the future to contribute to revitalizing the early-stage venture ecosystem.

Shin Hye-sook, Deputy Governor of KDB, said, "We will promote the revitalization of the early-stage venture ecosystem not only by supporting startups selected for the 10th NextOne batch but also through the NextOne fund. We plan to continue efforts to foster companies in national advanced strategic industries."

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