Startup Assistance Platform
The Korea Development Bank (KDB) will provide 300 start-ups with an opportunity for investor relations services (IR) next year. The figure is more than three times higher than 90 start-ups introduced by the KDB this year.
The bank said on December 18 that it held the “Next Round 2016 Closing Day” with its partners, such as accelerators and venture capital firms, at the KDB IR Center located on the first floor of its headquarters in Yeouido, Seoul, on the 16th and announced its operation plans next year.
The bank said that 90 startups introduced themselves this year via its KDB IR Center of the Next Round community for IR presentations and 13 out of the 90 attracted an investment of 35 billion won (US$8.42 million) in total this year. The bank added that at least 300 startups will be given IR presentation opportunities at the community next year.
The Next Round is a community that plays a role as a platform to provide startups with assistance for investment, public relations, production and the like in partnership with 20 or so organizations related to venture investment.
The KDB is planning to increase the number of the community partners next year for such an increase in the number of opportunities. In addition, KDB plans to jointly raise and operate “KDB Accelerator Fund” within 10 billion won (US$8.42 million) a year, along with venture capital companies which make a decision on investment through informal screening.
“Next year, more startups and venture investment organizations will take part in the Next Round as a networking platform for intercommunication,” said KDB vice chairman Jo Seung-hyeon, adding, “The KDB IR Center will have a bigger role during the course.”