Joint Efforts in Database Utilization and Investment Attraction ... Establishment of 'Gangnam-style Startup Fund' by Next Year
[Asia Economy Reporter Jongil Park] Gangnam-gu District Office (Mayor Jeong Soon-gyun) signed a business agreement with KAIST Youth Startup Investment Holdings (hereinafter KAIST Startup Investment) on the 1st, striving to foster local startups by providing investment attraction opportunities.
KAIST Startup Investment is an institution that invests in young startups solving social problems through innovative technology. This business agreement was made to provide investment attraction opportunities to startups struggling with funding due to COVID-19.
Both parties agreed to jointly promote various projects until September 2022, including ▲utilizing startup databases and startup infrastructure and support facilities ▲discovering linked projects ▲operating promising startup nurturing programs.
Meanwhile, the district plans to establish a ‘Gangnam-type Startup Fund’ by next year by investing in a ‘Venture Fund’ according to the revised ‘Ordinance on the Establishment and Operation of Small and Medium Enterprise Development Fund in Gangnam-gu, Seoul,’ which has been in effect since the 16th to foster local startups.
Seo Won-hee, Director of the Job Policy Division, said, “Since 2018, Gangnam-gu has been promoting a startup investment activation project that supports the entire process from discovering excellent startups to their settlement,” adding, “Based on this business agreement, we will support companies with excellent technology to successfully enter the global market.”
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