IBK, IBK Changgong Silicon Valley 2nd Cohort Kickoff Day Held

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IBK Industrial Bank's startup incubation platform, ‘IBK Changgong,’ announced on the 2nd that it held the kickoff day event for the ‘IBK Changgong Silicon Valley 2nd Accelerating Program’ at Maru 180 in Yeoksam-dong, Seoul.

The ‘IBK Changgong Silicon Valley Accelerating Program’ is a startup overseas incubation program jointly operated with 500Global, a global venture capital and accelerator, aimed at supporting innovative and venture startups in their overseas expansion.

The companies selected for this program, which have excellent local competitiveness and scalability in climate tech and artificial intelligence (AI), are ▲ Obicle Bio (next-generation microbial fertilizer) ▲ Vertical B (AI-based ERP system) ▲ Card Monster (online game development) ▲ Denit (AI-based investment analysis platform) ▲ Vision Space (smart logistics factory automation platform).

The selected companies receive investment funds and undergo a basic incubation process for successful overseas expansion through a four-week pre-program in Korea, including business diagnosis, setting business goals (KPI), and mentoring.

Afterwards, they participate in a two-month local incubation program at the IBK Changgong Silicon Valley desk in the United States, which includes business localization, market development, investment attraction IR, demo day, and networking to strengthen their global capabilities.

An IBK Industrial Bank official said, "The demand from startups wishing to expand their business globally is increasing," adding, "Through systematic support from 500Global and IBK Changgong, we will help early-stage startups focus on business growth."

Meanwhile, IBK Industrial Bank provides various overseas expansion opportunities to domestic startups through Silicon Valley and European accelerating programs.

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