Startup Incubation Program KDB NextONE 1st Batch Demo Day Held Online
Recruiting 2nd Batch Startups from the 4th... Selection in January Next Year and 5-Month Incubation Starting February
At the KDB NextONE Demo Day event held on the 2nd, Jang Byung-don, Vice President of the Korea Development Bank, is delivering a congratulatory speech via video.
[Asia Economy Reporter Kangwook Cho] On the 2nd, the Korea Development Bank (KDB) announced that it held the first cohort demo day event of its startup incubation program, KDB NextONE, online.
KDB NextONE is an in-house startup incubation program operated by KDB at Mapo Front1, the largest innovation startup space in Korea established by the Financial Services Commission. In July, the first cohort of 15 startups was selected and has been supported for growth over five months.
Due to strengthened quarantine measures following the escalation of social distancing levels, venture capitalists and startup stakeholders attended the demo day online. The event featured sharing of incubation achievements of the first cohort startups of KDB NextONE, along with business model presentations (IR) from startups in various fields such as healthcare, fintech, materials and components, and content.
The first cohort startups participated in various incubation programs including appearing on Arirang TV startup introduction broadcasts, hosting webinars for companies aiming to enter Southeast Asia, Front1-linked programs, IR consulting, and customized mentoring. Notably, eight companies succeeded in raising 7.6 billion KRW in investments.
Even after the program ends, participating companies will continue to receive follow-up support linked with existing venture and startup support systems, ranging from the IR platform KDB NextRound (investment attraction support), the startup fair NextRise (business cooperation support), to large-scale investment and financing for scaling up growth companies.
KDB will begin recruiting for the second cohort of KDB NextONE starting from the 4th. The second cohort will be selected in January next year, and the incubation program will run for five months starting in February. Next year, the incubation program is expected to be operated twice annually, enabling the discovery and nurturing of more startups.
Jang Byung-don, Head of KDB’s Innovation Growth Finance Division, said in a congratulatory video, "KDB will do its best to help innovative startups overcome the COVID-19 crisis and further activate the venture ecosystem through not only the KDB NextONE program but also various venture and startup support systems."
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