Shinhan Financial Group Completes 1st Cohort of Social Venture Incubation at Square Bridge Seoul

The teams participating in the 1st Social Venture Incubation Demo Day are taking a commemorative photo.

[Asia Economy Reporter Kwangho Lee] Shinhan Financial Group announced on the 17th that it successfully completed the first cohort of the Social Venture Incubation program at 'Shinhan Square Bridge Seoul,' a startup nurturing platform.

Since 2018, Shinhan Financial has introduced the Shinhan Square Bridge Seoul incubation program to provide scale-up programs for startups. It also offers various support such as discovering and nurturing social impact companies and investing in social impact to create an ecosystem for social value creation.

In the first cohort of the Social Venture Incubation program, 8 teams were selected out of a 10:1 competition ratio and received consulting for investment attraction and scale-up over four months starting in June. During the incubation period, one team secured investment, and two teams proceeded with investment contracts, achieving notable results.

At the demo day held on the 16th, a total of 7 teams presented their businesses and selected the outstanding teams of the first cohort of the Social Venture Incubation program. Reharvest was awarded first place, and Disabled was awarded second place. They received prize money of 20 million KRW (1st place) and 10 million KRW (2nd place), respectively.

Park Sang-yong, head of Shinhan Financial's Social Contribution Department, said, "Shinhan Financial will continue to generously support social ventures to realize their dreams. Shinhan Financial will stand with all startups participating in the program until they grow into unicorns with social and economic value."