The Korea Business Development Institute (Chang Jin-won) announced that it would hold the 2nd Re-Challenge Startup Enterprise IR and Networking event on July 22 to connect startups with investors, and large enterprise collaborators. The event would also open a forum for cooperation among members of the startup ecosystem.
The first event held last May intends to exchange and cooperate with various investment groups such as investors and distributors, crowdfunding companies, fund management companies, large corporations, and midsize companies with startups within seven years of establishment.
At the last event, Mirint Co., Ltd. won the Excellence Award by successfully raising more than 100 million won ($83,000) from 1,116 individuals. Currently, the company is conducting its second round of funding through crowdfunding companies.
The 2nd Re-challenge Start-up Enterprise IR and Networking event would proceed through an online meeting platform developed for IR pitching events. The public could also view the event live online through a web acquired by applying for participation on the on-off mix-meeting guide.
Last May 20 to June 5, the Ministry of SMEs and Startups accepted 108 teams through K-Startup. However, only 15 teams acquired an IR pitching opportunity based on the investment promotion team’s internal evaluations.
After IR pitching in three main areas (AI, information and communication, crafts and design, and electricity and electronics), the event would continue in a one-on-one networking environment to promote continuous investment and connections between investors and startups.
On the day of the event, five outstanding pitching teams selected would receive a prize of up to 700,000 won ($580).
The Ministry of SMEs and Startups said that the participation of startups in the first event generated successful investments and sales channels after the fact. The Ministry hopes that the second event would provide more connections with investors to further advancement for startups.