Martial Arts "Investment Booster IR Competition Successfully Concluded... Startup Matching Support"

"Successful Investment of 1.4 Billion KRW by 7 Companies"

Startups and investors participating in the final demo day of the 'Startup Investment Booster IR Competition' hosted by the Korea International Trade Association pose for a commemorative photo. (Photo by KITA)

[Asia Economy Reporter Moon Chaeseok] The Korea International Trade Association (KITA) announced on the 9th that it successfully held the 'Startup Investment Booster IR Competition' in collaboration with the Industry-Academic Cooperation Foundation and the University Industry Technology Support Group.

The competition was planned to help early-stage startups attract investment and to provide additional matching funds to companies that secured final investments.

Through the competition, KITA and the foundation provided matching funds of 180 million KRW to seven startups, including ZeroOneAI, which succeeded in attracting investment.

A total of 201 companies applied for the competition, and nine investment firms participated. Three investment firms?The Invention Lab, Inlight Ventures, and SparkLabs?decided on a total investment of 1.4 billion KRW.

Song Junho, CEO of ZeroOneAI, said, "By participating in the competition, we strengthened our investment attraction capabilities and secured early-stage investment and matching funds despite the difficult market conditions. We hope various programs will continue to be operated to support the growth of early-stage startups."

Jang Seokmin, Head of Digital Innovation at KITA, said, "Due to interest rate hikes and weakened investment sentiment, early-stage startups face many difficulties in attracting investment. We hope this competition will serve as a 'booster' to revitalize startup investments."

Jeon Jongchan, Secretary General of the foundation, emphasized, "With government policy support funds and market liquidity drying up compared to before, many startups are failing to attract investment. We hope the competition will create a virtuous cycle within the startup ecosystem."