KDB Nanum Foundation Supports Innovative Startups Through IR Competition Among 7 Teams

Korean Youth Entrepreneurship Foundation and '2020 KDB Startup Demo Day' Held

[Asia Economy Reporter Kangwook Cho] KDB Nanum Foundation and Korea Youth Entrepreneurship Foundation announced on the 5th that they held the '2020 KDB Startup Demo Day' to discover and nurture outstanding young entrepreneurs and support innovative startups.

At the Demo Day held at Lotte Tower SKY 31 Convention the previous day, corporate presentations (IR) were conducted by 7 teams who advanced to the final round out of 701 applicant teams. Based on evaluations by a panel of expert judges, the grand prize winner, Kang Ji-hong, CEO of 'Romin,' received a business support fund of 100 million KRW, with a total of 180 million KRW awarded.

In accordance with COVID-19 quarantine guidelines, about 50 people including university students and prospective entrepreneurs attended the event venue. Approximately 600 participants joined via online live streaming, actively responding in real time to outstanding startups proposing new ideas for the post-COVID-19 era, creating a heated atmosphere.

Additionally, the event featured a performance sharing session for the 'KDB Entrepreneurship Education Program,' which involved 1,088 participants from 16 universities nationwide. Awards were given to excellent teams from Soongsil University, Pohang University of Science and Technology, and Kwangwoon University among 33 teams.

This education program established field-work-centered entrepreneurship courses within regular university curricula and provided intensive training such as customer interviews and market research through professional entrepreneurship educators. Outstanding teams will receive follow-up support including participation benefits in bootcamp programs and next year's startup programs.

At the event, Lee Dong-geol, Chairman of the Korea Development Bank, stated, "We will do our best to promote innovative growth and revitalize the venture ecosystem in connection with the Korea Development Bank amid the new changes caused by COVID-19."

Meanwhile, since 2013, the Korea Development Bank has selected 156 teams through the KDB Startup Program over eight years, achieving results such as 103 team startups, creation of approximately 1,490 jobs, and attracting investments worth about 79 billion KRW through entrepreneurship education and follow-up support. Furthermore, outstanding startups participate in KDB’s domestic representative venture investment platform KDB Next Round and acceleration program KDB Next One, expanding systematic growth programs and connections.