11 Startups in Fintech, Big Data, and AI Sectors
Holding Digital Transformation and Data-Driven Business Models
Accelerated Growth Support in Space, Commercialization, and Education
Busan City is bringing together fintech companies and firms in big data and AI sectors to accelerate the establishment of a fintech hub that combines finance and technology.
Busan City (Mayor Park Hyung-jun) announced that it will recruit 11 companies to move into the ‘Busan Fintech Hub,’ a platform supporting the concentration and growth of companies in the financial technology sector, starting from the 27th.
The Busan Fintech Hub is a specialized nurturing platform created by Busan City to secure diversity in the fintech industry and support company growth. It operates in two spaces: ‘U (Unicorn)-Space (BIFC 11th to 15th floors)’ and ‘S (Star)-Space (3rd floor of Busan Chamber of Commerce and Industry),’ currently housing 43 companies.
Busan City plans to actively discover and support capable startups so that Busan can firmly establish itself as a fintech innovation hub. Selected companies receive comprehensive triple support including space (rental fees), commercialization, and education (capacity building) to help their growth.
The recruitment targets are technology companies within seven years of establishment that have internalized IT and data capabilities. Startups with fintech, digital transformation, or data-based business models are eligible to apply.
Final resident companies will be selected through document review and face-to-face evaluation. For ‘S-Space,’ priority is given to companies with annual sales exceeding 1 billion KRW and those expected to achieve high growth in sales.
Applications are accepted from the 27th until 3:00 PM on March 18th. Detailed information on the recruitment process and support contents can be found on the Global Fintech Industry Promotion Center website.
The Busan Fintech Hub goes beyond simply providing office space by establishing a practical growth support system aimed at increasing sales and creating jobs for resident companies.
Resident companies receive up to 80% rental fee support per month, CEO leadership training, and educational programs to strengthen the job competencies of employees such as IT developers, business developers, and data experts.
Additionally, to accelerate the step-by-step growth of fintech companies, programs such as ▲Operation of Financial Data Lab (building a data-driven business environment) ▲‘B-Fintech 20’ certification (selecting 20 high-growth companies, providing 10 million KRW in business funds and consulting support) ▲Global market entry (participation in overseas IR, marketing) ▲Corporate investor relations (IR) consulting are also operated. Through these, early-stage fintech companies can develop innovative data-driven businesses in a stable environment and enhance their market competitiveness, serving as a catalyst.
Through the B-Fintech 20 certification company nurturing program, Busan City supports high-growth fintech startups by providing business support funds and customized consulting to help companies build competitiveness.
Busan City has established partnerships between leading companies in finance, insurtech, marketing, investment such as SK Planet and BNK Financial Group, and B-Fintech 20 selected companies. This collaboration supports data-driven marketing, business model advancement, and strengthens the commercialization capabilities of resident companies.
Nam Dong-woo, Busan City’s Financial Startup Policy Officer, said, “The Fintech Hub has entered an advanced stage as a startup growth platform beyond just a company aggregation function,” adding, “This year, we will strengthen investment attraction, commercialization, and workforce development beyond infrastructure operation to help fintech companies gain global competitiveness.”
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