First Incheon Startup Park Fund No.1 Established at the End of Last Year with 59.5 Billion Won
The Incheon Free Economic Zone Authority is invigorating the local venture and startup ecosystem through the "Incheon Startup Park Fund No.1," a public-private partnership fund.
On July 24, the Incheon Free Economic Zone Authority announced that it had established the Incheon Startup Park Fund No.1 at the end of last year, contributing 3 billion won of its own capital to form a total fund of 59.5 billion won. The authority has begun full-scale investment activities by providing funding to two startups.
The fund operates as a public-private partnership structure, with the Incheon Free Economic Zone Authority investing through Incheon Technopark and a private venture capital firm (GP, Enlight Ventures) participating as the general partner.
Since its inception, the fund has continued to discover and invest in innovative venture and startup companies centered around Incheon Startup Park, focusing on strategic industries within the Incheon Free Economic Zone such as smart city, information and communication technology (ICT), bio·healthcare, smart manufacturing, and aviation composite logistics.
Tesolo (multi-joint grippers for robots) and The Plaza (an unmanned sports facility service platform) are representative companies supported by the Incheon Startup Park Fund No.1.
Tesolo, a manufacturer of Delto Gripper (robot hands) components used in humanoid robots, leveraged the support from Fund No.1 to attract additional co-investment from KB Investment, Samsung Venture Investment, and others. The Plaza, which provides a premium unmanned sports facility service platform for activities such as golf, has seen its brand value rise in the personal lesson market, resulting in increased sales growth.
By 2028, the Incheon Startup Park Fund plans to invest a total of 15 billion won, creating a fund size of 150 billion won. The fund aims to lay the foundation for promising startups to grow into mid-sized companies and to serve as a driving force for the growth of the Incheon economy.
Yoon Wonseok, Commissioner of the Incheon Free Economic Zone Authority, stated, "The Incheon Startup Park Fund will serve as a catalyst, not only supplying capital but also connecting innovative startups to sustainable growth and private investment attraction. We will continue to expand the investment base so that the local venture and startup ecosystem can grow independently."
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