Hana Financial Group Shares Results of Hana Social Venture Academy... Supporting Social Innovation Entrepreneurs

Participants of the 2nd Hana Social Venture Academy program of Hana Financial Group are taking a commemorative photo.

[Asia Economy Reporter Kim Min-young] Hana Financial Group announced on the 23rd that it has concluded the 2nd program of the 'Hana Social Venture Academy,' which supports social innovation entrepreneurs through startup education. It shared the achievements of 12 innovative startup (planned) teams that participated in the customized startup education of the Hana Social Venture Academy, which was conducted over 11 weeks since last July.

With the participation of Hana Financial Group, Hana Ventures, Korea Social Investment, a specialized impact investment institution, and Underdogs, a social innovation company builder, these 12 teams presented their social innovation ideas, and through on-site evaluation, five outstanding startup teams including one grand prize winner were selected.

The grand prize winner, Kangsters Crew, is a social venture founded to solve the inconveniences faced by physically disadvantaged individuals through technology. They presented assistive devices for the disabled, such as a wheel cleaner that eliminates the hassle wheelchair users face when cleaning their wheelchair wheels every time they enter their homes, receiving great acclaim.

The excellence awards went to Soul Medi, which addresses asymmetry in pharmaceutical information, and Vintage House, which promotes beat trading for indie musicians. The merit awards were given to Silver Lining, which creates a senior walking delivery solution, and Rain Clover, which developed a non-point source pollution reduction platform for the environment.

Venture capitalists (VCs) such as Hana Ventures, Neoply, and D3 Jubilee understood the challenges unique to social ventures, which must simultaneously pursue solving social problems and business, unlike general venture startups. They provided practical advice and supported and evaluated the startup ideas to help create better solutions.

A Hana Financial Group official stated, "We are confident that the 11 weeks of startup education will greatly help in solving social problems and developing business models," adding, "Hana Financial Group will continue to provide various support to create quality jobs and activate the social economy, including supporting the startup ecosystem."