Seoul National University of Science and Technology Holdings Selected as Operator of Ministry of Education University Startup Fund

[Asia Economy Reporter Hyunju Lee] Seoul National University of Science and Technology's technology holding company, Seoul National University of Science and Technology Technology Holding, announced on the 7th that it has been selected as an operator for the first round of the Mother Fund investment project (University Startup Fund) this year.

The Ministry of Education and Korea Venture Investment announced that Seoul National University of Science and Technology Holding, Chungbuk National University Technology Holding, and Venture Box Co., Ltd. were selected as joint operators for the University Startup Fund.

The University Startup Fund is a fund jointly established by the government and universities to alleviate the initial funding difficulties of startup companies within universities, aiming to expand startups by providing investment funds to early-stage university startups such as students and faculty members.

Seoul National University of Science and Technology Holding, together with the joint operators, will raise at least 1 billion KRW in investment, and will be responsible for overall fund management including discovering investee companies and executing investments, and will receive performance fees upon investment recovery.