Gangnam-gu Supports Investment Attraction Promotion and Marketing for Startups... Applications Due by the 29th of This Month

Opportunities for Startups within the Venture Business Promotion Zone

Map of Gangnam-gu Venture Business Promotion District. Provided by Gangnam-gu.

Gangnam-gu, Seoul (Mayor Jo Seong-myeong) will provide a total of 60 million KRW in promotional and marketing support funds to promising startups within the Venture Business Promotion District from August to November this year, and will offer opportunities for corporate promotion (IR) to attract investment.

The Gangnam-gu Venture Business Promotion District covers an area of 464,697㎡, including Yeoksam-dong 747-2 (Area A), Dogok-dong 517-10 (Area B), and Samseong-dong 37-18 (Area C).

Within the district, numerous educational and research institutions such as KAIST Dogok Campus and Seoul Venture Graduate School, as well as startup support organizations including Gangnam Employment and Startup Hub Center, Tipstown, Maru180, and Maru360, are gathered.

The district is implementing its own support project to strengthen the investment attraction capabilities of startups located in this area and to revitalize the venture business ecosystem. Last year, a total of 51 companies were supported, and this year, among various support fields, the focus will be on the promotion and marketing sector, which companies prefer the most.

This project proceeds in a three-step process, from promotional marketing support for market development to corporate promotion (IR) targeting investors. First, from August to October, 20 promising companies will be recruited for promotional and marketing support. Each company will receive 3 million KRW to conduct customized promotional marketing activities such as participating in exhibitions, producing promotional materials, and online marketing.

The Venture Business Linked Forum will provide one-on-one IR consulting by active investment experts to the 20 companies. Subsequently, 10 outstanding companies will be selected to support promotional activities targeting investment-specialized companies. In November, an investment attraction event will be held. Among the 10 companies, 5 will be selected to receive IR pitching opportunities to effectively persuade investors.

Companies wishing to participate in the support project can apply through the Korea Angel Investment Association website. Applications are accepted until 5 p.m. on the 29th of this month. For more details, inquiries can be made to the Korea Angel Investment Association.

Mayor Jo Seong-myeong stated, “This support project is expected to provide practical help to companies that possess excellent technology and products but face difficulties in market development and investment attraction,” and added, “We will continue substantial support so that companies located in Gangnam, the cradle of Korea’s venture businesses, can grow into unicorn companies.”