The Invention Lab (CEO Jinyoung Kim) and Incheon Center for Creative Economy and Innovation (CEO Hanseop Lee, hereinafter referred to as Incheon Center) announced on the 8th that they have jointly formed the 'Incheon Changgyeong-The Invention Lab Youth Overseas Expansion Investment Association' to support overseas expansion of domestic young startups.
This investment fund, valued at 1 billion won, is dedicated to supporting young startups aiming to expand into key global markets, including Vietnam, Singapore, and the United States. The fund will provide initial investment and various follow-up support to companies selected through the two organizations' joint open innovation program for large and medium-sized enterprises and the overseas expansion startup incubation program.
Both organizations will leverage their existing global expansion strategy training (BTB Camp), market research (Market Assessment), customized corporate mentoring (FHF), and TIPS-linked investment to support selected companies' overseas market expansion. In Vietnam, they will explore local market expansion opportunities through practical programs such as open innovation programs and demo days with local corporations.
Kim Min-soo, director of The Invention Lab, said, “This combination is designed to select and intensively nurture early-stage startup teams with a strong desire to expand globally,” adding, “We plan to establish step-by-step growth strategies together after the investment to help them generate tangible overseas results.”
Park Jae-won, head of the investment division at the Incheon Creative Economy Innovation Center, said, “We will provide effective support so that young entrepreneurs in the Incheon region can secure competitiveness on the global stage,” and added, “This association will develop beyond one-time support into a long-term partnership-based model for young people to advance overseas.”
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