Shinhan Futures Lab Launches 'S-Unicorn Program' to Discover Unicorn Companies

Chairman Cho Yong-byeong of Shinhan Financial Group (second from the right) and Jin Ok-dong, President of Shinhan Bank (first from the right), are seen exchanging greetings at the Shinhan Futures Lab Demo Day.

[Asia Economy Reporter Kangwook Cho] Shinhan Financial Group's startup accelerator program, Shinhan Futures Lab, announced on the 25th that it will implement the 'S-Unicorn Program' to discover unicorn companies.

This program was planned to provide opportunities for next-generation unicorns to grow by selecting companies to participate in the 'K-Unicorn Project' hosted by the Ministry of SMEs and Startups, targeting alumni companies of Shinhan Futures Lab, and providing systematic solutions according to their growth stages.

Shinhan Financial plans to offer consulting covering three main areas for companies participating in this program until the end of November: ▲investment attraction ▲mentoring on legal matters, mergers and acquisitions (M&A), HR and organization, and business strategy ▲application for the K-Pre-Unicorn special guarantee hosted by the Ministry of SMEs and Startups.

Additionally, companies selected for the Ministry of SMEs and Startups' 'K-Unicorn Project' through this program will be eligible to receive special guarantees for operating funds, research and development (R&D) funds, and market development funds.

Yongbyung Cho, Chairman of Shinhan Financial Group, said, "I hope Shinhan Futures Lab's 'S-Unicorn Program' will serve as a stepping stone for many companies dreaming of becoming unicorns to take a leap forward," adding, "We will continue to create various programs that provide practical help to startups."

Meanwhile, Shinhan Financial is leading the discovery of new growth engines and ecosystem creation through initiatives such as the 'Shinhan N.E.O. Project,' a financial New Deal policy to actively support Korea's New Deal policy, the 'Shinhan Triple-K Project,' a nationwide innovation growth platform construction project, and 'Shinhan Futures Lab,' the first startup accelerator program in the financial sector.

Through 'Shinhan Futures Lab,' Shinhan Financial has so far made direct and indirect investments totaling approximately 30.8 billion KRW in 51 companies and has continuously supported the nurturing and discovery of startups by establishing the 10.2 billion KRW-scale Won Shinhan Futures Fund No. 2.