Industrial Bank of Korea Launches 'KDB NextOne' to Strengthen Support System for Ventures and Startups

Selecting Promising Startups for Incubation at Mapo Innovation Town (FRONT1)
Focusing on Investment Attraction and Business Linkage Support... Strengthening Venture and Startup Support
Startup Selection in June, Incubation to Proceed for 5 Months from July

[Asia Economy Reporter Kangwook Cho] The Korea Development Bank (KDB) announced on the 25th that it will implement the startup incubation program 'KDB NextONE,' which will lead South Korea's innovation growth.

KDB NextONE, to be held at Mapo Innovation Town (FRONT1), the largest innovation startup platform being developed by the Financial Services Commission, is a next-generation top startup nurturing program that supports investment attraction and business linkage by utilizing KDB's own capabilities for the substantial growth of promising startups. This year, CNT Tech Co., Ltd., an accelerator registered with the Ministry of SMEs and Startups, will participate as a co-operator.

Additionally, through this program, KDB plans to promote collaboration with startups related to its bank-wide Digital Transformation projects.

By implementing this program, KDB will support all stages of venture company growth, from nurturing early-stage startups to tech startup investment and scale-up financing. Furthermore, it is expected to further strengthen the venture and startup support system together with the existing market-type venture investment platform KDB NextRound (investment attraction support) and the country's largest startup fair NextRise (business cooperation support).

KDB plans to select around 15 startups in June and conduct the full-scale incubation program for five months starting in July. Startups wishing to participate can find application documents and other information through the announcements on KDB's official website.

A KDB official stated, "We hope that KDB NextONE will bring new vitality to the venture ecosystem market, which has been stagnant due to COVID-19 and other factors, and help support the growth of promising early-stage startups."