"Venture and Startup Activation 'Primer'... Untact IR for ICT Innovative Companies"

[Asia Economy Reporter Seulgi Na Cho] A non-face-to-face (untact) IR was held targeting innovative ventures and startups in the ICT sector facing difficulties in attracting investment and collaboration due to the spread of the novel coronavirus infection (COVID-19). It is expected to revitalize the shrinking venture and startup exchanges and become a new platform for the post-COVID era.

The Ministry of Science and ICT announced on the 23rd that 34 domestic venture investment companies, including the Korea Credit Guarantee Fund (Investment Finance Center), KB Investment, and KDB Capital, attended the 2nd Untact IR hosted by the Korea Venture Business Association (KOVA).

This untact IR was prepared as part of the Ministry of Science and ICT's proactive administration in response to the contraction of investment attraction and collaboration among ventures and startups due to the spread of COVID-19. The 1st IR held on the 9th included six startups possessing core technologies in the telecommunications field, along with the three major mobile carriers and special telecommunications companies.

At the event, a total of 10 companies, including Susang ST, O2O, Neurosense, Four S Mapper, Ten Eleven, Pintu B, Hanwith Information Technology, 3D Imaging Industry, Snow Five, and Health Max, participated, actively promoting their technologies and visions to attract investment. The participating companies consisted of firms leading ICT innovation, ranging from an aquarium environment platform business utilizing temperature sensors, illuminance sensors, and pH sensors (Susang ST) to an AI-based integrated platform for digital dental imaging services (3D Imaging Industry).

Minister Choi Ki-young of the Ministry of Science and ICT joined the video conference system to encourage the participating companies and investors, stating, "I hope today's event will not be a one-time occasion but a catalyst to reactivate exchanges within the venture industry through non-face-to-face means," and urged, "Please stand at the forefront with us to overcome COVID-19 by turning this 'crisis' into an 'opportunity for a leap forward.'"

He also mentioned, "Although untact IR is still unfamiliar and somewhat inconvenient compared to face-to-face IR, it will become a new platform in the post-COVID era."

Meanwhile, the ‘3rd Untact IR’ is scheduled to be held on the 29th, targeting the three major mobile carriers?SK Telecom, KT, LG Uplus?and three special telecommunications companies?SK Telink, KT Powertel, and LG HelloVision. Companies wishing to participate in the untact IR from the 4th session onward can obtain information through the Startup Support Team of the National IT Industry Promotion Agency (043-931-5559) and announcements on the website.