Asia's Largest Angel Investment Festival 'ABAF' Kicks Off on the 28th in Busan

Online and Offline International Event for Startup Angel Investment with Participation from 7 Asian Countries
Angel Investors Join Online... Second Korean Hosting After Seoul in 2016
Private-Led Tech Startup Investment Presentation 'TIPS IR in Busan

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] The '2020 Asia Business Angel Forum (ABAF)', Asia's largest startup angel investment festival, will be held on the 28th from 1 PM at the Paradise Hotel in Haeundae, Busan.

ABAF is held annually by rotating among member countries to expand the domestic and international base of angel investors, establish overseas angel investment networks, and support overseas investment attraction and entry of promising ventures from each country. Busan is the second city in Korea to host the event, following Seoul in 2016.

Along with this forum, the investment briefing session for selecting Busan startup companies for TIPS, 'TIPS IR in Busan', will be held simultaneously online and offline.

TIPS (Tech Incubator Program for Start-up) is a private investment-led technology startup support program led by the Ministry of SMEs and Startups that selects startup teams by utilizing the capabilities of successful venture entrepreneurs and links private investment with government R&D support.

This event was jointly organized by Busan City, the Ministry of SMEs and Startups, Busan Technopark, and the Korea Angel Investment Association.

This forum will be held online for the first time ever due to COVID-19. Representatives, investors, TIPS operators, and startups from a total of seven ABAF member countries including Korea, Australia, China, New Zealand, India, Singapore, and Sri Lanka are expected to participate.

In the first part, starting with an opening video introducing the host city Busan, congratulatory speeches will be delivered by Byun Sung-wan, Acting Mayor of Busan, and Choi Jong-yeol, Director of Busan Technopark, followed by a welcome address by Jordan, the ABAF chairman and Australian representative, and Ko Young-ha, Chairman of the Korea Angel Investment Association, marking the opening.

The keynote speaker of the day, CEO Oh Jong-hoon, who is the CEO of Sunbo Angel Partners, a specialized investment institution derived from the mid-sized company Sunbo Industry born in Busan, will present a new direction to ABAF member countries under the theme 'The Direction Asian Angel Investors Should Take in the Post-COVID Era.'

Following this, representatives of investors from the seven participating countries will share trends and current status of angel investment in their respective countries. Representing Korea, Kwon Hyuk-tae, CEO of Coolidge Corner Investment, a Busan-based TIPS operator and venture capitalist, will give a presentation.

In the second part, two startups from each participating country will participate in corporate presentations (IR), followed by real-time Q&A sessions.

After the ABAF event, 'TIPS IR in Busan' will continue. TIPS operators will serve as judges and provide opportunities to build networks between investors and founders through corporate presentations (IR) of excellent startups in the Busan area.

After the presentations, three companies will be selected based on the judging results and awarded the Busan Mayor's Award, Busan Technopark Director's Award, and Korea Angel Investment Association Chairman's Award.

The participating companies include Realmaker (CEO Park Jun-hyun), Vendorster (CEO Noh Joo-hyun), Alistar (CEO Shim Yong-su), Y-Polaris (CEO Kim Seung-yeon), Innercure (CEO Lee Bong-geun), and Koai (CEO Park Kyung-taek).

Byun Sung-wan, Acting Mayor of Busan, said, "Angel investment for startup companies to grow innovatively is an important stepping stone not only for securing funds but also for gaining mentors as angel investors to receive support in various ways."

This event will be broadcast live through the YouTube channel 'Centap On Air'. An event will also be held where participants who leave questions and supportive comments about company presentations in the chat window will receive mobile gift certificates.

Pre-registration is available through the OnOffMix and Eventus websites, and detailed inquiries can be made to the Korea Angel Investment Association.