Venture Investment Also 'Online' Briefing... "Opportunities for Startups and Venture Companies"

Award in Medical and Bio Innovation Field

Minister Park Young-sun of the Ministry of SMEs and Startups is participating in an online investment briefing using 'Gooroomi's video platform in her office.

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 2nd that it held an online investment briefing session where startup and venture companies could meet investors such as venture capitalists remotely.

This investment briefing was conducted in collaboration with the Korea Venture Capital Association. It targeted the medical and bio-innovation sectors, which have higher growth potential amid the COVID-19 pandemic situation.

The Ministry of SMEs and Startups provided presentation opportunities to a total of 10 companies selected by direct voting from venture capitalists among about 100 companies recommended by related organizations such as the Creative Economy Innovation Centers. The selected companies possess diverse technological capabilities in new drugs, diagnostic kits, medical devices, and medical software fields.

Most of the company representatives participated in the investment briefing online from their own offices. There was even a company representative who joined the briefing online from New York, USA. About 30 investors, including venture capitalists, attended the briefing. They are bio-specialized investment reviewers, including pharmacists and medical doctors.

The briefing utilized the video platform of Gurumi, a web-based video communication service developer. Minister Park Young-sun of the Ministry of SMEs and Startups also participated online from her office like other participants to encourage the companies.

Minister Park Young-sun said, "Although it is a difficult time due to COVID-19, gaps are emerging in the existing economic order and the industrial landscape is changing, which can create opportunities for startups and venture companies. We will hold online investment briefings regularly to serve as opportunities for regional companies and venture capitalists in the metropolitan area to meet, and also conduct one-on-one investment matching consultations via phone and online to ensure continuous venture investment."