Recruitment Open Until the 15th
Approximately 50 Final Companies to Be Selected
On July 1, Korea Technology Finance Corporation (Kibo) announced that it is recruiting participating companies for the 17th Kibo Venture Camp to foster innovative startups, including prospective entrepreneurs.
Kibo Venture Camp is a startup support program operated in collaboration with private accelerators, in line with the Ministry of SMEs and Startups' "Domestic Startup Ecosystem Vitalization Policy." By combining Kibo's extensive experience in supporting technology startups with the specialized capabilities of the private sector, the program discovers and nurtures innovative startups. To date, it has provided tailored growth support and follow-up investment connections for approximately 840 startups.
The recruitment targets are innovative startups within three years of establishment as of the announcement date, or prospective entrepreneurs. After the first round of document screening and a second round of presentations, approximately 50 companies will be selected. In addition to the general track, Kibo plans to contribute to balanced regional development and the creation of social value through special tracks for regional balance, ESG, New Growth 4.0, and prospective entrepreneurs. The application period runs until the 15th of this month.
Selected companies will receive, free of charge for about three months, a variety of programs including comprehensive consulting for establishing customized growth strategies for startups, sharing of expertise and success know-how from specialists in various fields, accelerator support, connections to VC and angel investors, and networking opportunities with VCs. In particular, companies selected through the ESG track will also have the opportunity to participate in the "Net Zero Challenge X Project" of the 2050 Carbon Neutral Green Growth Committee.
Additionally, Kibo will provide Venture Camp graduates with a package of financial services such as guarantees and investments, as well as non-financial services such as R&D support and technology transfer. Outstanding participating companies may also be considered for up to 1.5 billion KRW in guarantees and up to 500 million KRW in investment support through a SAFE (Simple Agreement for Future Equity) contract.
Lee Sangchang, Director of Kibo, stated, "Kibo Venture Camp is a core program that supports the successful startup and scaling-up of innovative technology companies," adding, "We will continue to expand various support policies for participating companies and do our utmost to help startups with innovative technologies make a greater leap forward to become future unicorns."
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