The Korea Technology Finance Corporation (Chairman Jong-ho Kim, hereinafter referred to as “KIBO”) announced that it will recruit participating companies for the “17th KIBO Venture Camp” until the 15th (Tuesday) of this month in order to intensively foster capable innovative startups (including prospective startups).
'Kibo Venture Camp' is a startup support program operated in cooperation with private accelerators in line with the 'Domestic Startup Ecosystem Activation Policy' of the Ministry of SMEs and Startups. It discovers and fosters innovative startups by combining Kibo's abundant experience in supporting technology startups with the private sector's professional capabilities, and has led customized growth support and follow-up investment linkages for approximately 840 startups to date.
The recruitment target is an innovative startup or prospective startup that has been established for less than 3 years as of the announcement date, and approximately 50 companies will be selected through the first document evaluation and the second presentation evaluation. In addition to the general selection process, Kibo plans to recruit various companies through ▲regional balance ▲ESG ▲new growth 4.0 ▲preliminary startup special selection processes, thereby contributing to regional balanced development and social value creation.
The selected companies will be provided with various programs completely free of charge for approximately 3 months, including ▲comprehensive consulting for establishing a growth strategy tailored to startups ▲transfer of experience and know-how from experts in each field ▲connection with accelerators, VCs, and angel investments, and networking with VCs. In particular, companies selected through the ESG selection process will also be given the opportunity to participate in the 2050 Carbon Neutral, Green Growth Committee's 'Net Zero Challenge X Project'.
In addition, KIBO will provide a package of non-financial services such as R&D support and technology transfer along with financial services such as guarantees and investments to companies that have completed the venture camp, and if selected as an excellent participating company, it will also consider providing up to KRW 1.5 billion in guarantees and KRW 500 million in conditional equity acquisition agreement (SAFE) investment support.
Kibo CEO Lee Sang-chang said, “Kibo Venture Camp is a key program that supports the successful startup and scale-up of innovative technology companies,” and added, “Kibo will continue to expand various support policies for participating companies and do its best to help startups with innovative technologies make even greater leaps toward becoming future unicorn companies.”
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