Investment specialist accelerator CNT Tech received the highest rating in the final evaluation of the 2024 Startup Success Package Youth Startup Officer School private sector-led operation company conducted by the Small and Medium Business Administration.
The Youth Entrepreneurship Academy, operated by the Korea SMEs and Startups Agency, is a representative youth entrepreneurship support program in Korea that discovers excellent youth startups with promising items and innovative technologies, provides up to 100 million won in commercialization funds, and provides comprehensive support for education, coaching, office space, and prototype production.
Last December, the Korea SMEs and Startups Agency conducted a final evaluation of 20 Youth Entrepreneurship Academy schools for 2024, and as a result, CNT Tech, the operator in northern Gyeonggi Province, received the highest rating in the final evaluation conducted in the second half of the year, and also achieved first place in a satisfaction survey on entrepreneurship education, coaching, and networking.
CNT Tech was selected as the private operator of the Youth Entrepreneurship Officers' Academy for the 2020 Startup Success Package and has been operating it for 6 consecutive years. Starting in 2023, it will be converted to a private-sector-led (investment-type) operator, and CNT Tech, as the operator, will directly select and nurture students, while providing investment-specific education and scale-up opportunities through investment linkages. In particular, in 2024, when it received the highest evaluation, CNT Tech focused on an investment attraction program by utilizing its abundant investment resources and investment institution network infrastructure, and as a result, it recorded a cumulative direct investment amount of KRW 2.6 billion in Cheongchangsa. In addition, it recommended 12 companies nurtured through Cheongchangsa in northern Gyeonggi Province last year to the TIPS program, and all of them succeeded, achieving follow-up investment linkages.
The representative of CNT Tech, Jeon Hwa-seong, said, "CNT Tech has been operating the Gyeonggi Northern Youth Center for 6 consecutive years, and we have been discovering excellent startups every year and making aggressive investments. As we operate the center by directly selecting students for investment, we will help startups achieve actual entrepreneurial activities and support market development, and we will work even harder to actively discover promising companies for investment in the metropolitan area and Gangwon region so that it can play a key role in youth entrepreneurship in the Gyeonggi Northern region."
Meanwhile, CNT Tech executed 117 investments worth 21.5 billion won last year, achieving the largest annual investment in Korea for five consecutive years, and also set a record as a TIPS operator by matching 79 TIPS per year.
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