The Daejeon Creative Economy Innovation Center (CEO Daehee Park, hereinafter referred to as the Daejeon Innovation Center) officially established the 'Daejeon InnoStar Investment Association No. 1' (hereinafter referred to as the Association) at the Daejeon Startup Park headquarters on the 17th and signed a business agreement (MOU) to strengthen cooperation.
This investment fund was established with the participation of three joint executive partners (Co-GPs): Daejeon Innovation Center, Joshua Partners (CEO GP), and Philosophy Ventures. The investment targets innovative technology-based startups based in Daejeon.
This partnership goes beyond simple financial investment and aims to support the entire corporate growth cycle. It will first identify promising companies and then invest in those selected companies. Next, it will link FreeTips and Tips recommendations to support necessary programs during the growth phase. It will also pursue activities to ensure the company's continued growth, such as attracting follow-up investments and business partnerships.
The formation of this cooperative is significant in that it establishes an investment foundation that can revitalize Daejeon's startup ecosystem through collaboration between local innovation organizations and private investors. In particular, it is expected to provide Daejeon-based startups with a stable growth ladder, from initial investment to follow-up funding.
Park Dae-hee, CEO of Daejeon Innovation Center, said, “Through Daejeon InnoStar Investment Association No. 1, local startups have established a stable foundation for growth,” and added, “We will continue to work with our partners to do our best for the sustainable development of Daejeon’s startup ecosystem.”
Seo Jae-seung, CEO of Joshua Partners, said, “We will actively support this collaboration with the Daejeon Innovation Center to ensure that it provides practical assistance in the growth of local innovative startups.”
Yeosuah Philosophy Ventures CEO said, “We will do our best to help local innovative startups take a leap forward,” and added, “We will spare no support to ensure that a virtuous cycle of entrepreneurship, investment, and growth can flourish in Daejeon.”
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