Industrial Bank of Korea Launches Fourth IBK ChangGong Silicon Valley Cohort: “Five Companies, 12-Week Program”

[Financial News] Industrial Bank of Korea has launched the fourth-cohort project of its startup-support platform, IBK ChangGong.
According to the financial industry on the 10th, IBK ChangGong of Industrial Bank of Korea held a kickoff day for its fourth Silicon Valley acceleration program at Startup Branch at COEX in Seoul, beginning its efforts to help innovative startups expand overseas.
The Silicon Valley acceleration program is an initiative operated by Industrial Bank of Korea in partnership with global venture capital firm 500 Global to support innovative startups’ expansion into overseas markets.
Five companies with strong global competitiveness and scalability were selected for the fourth cohort: Softionics, Tunable Biosystems, Cheongbang Korea, Buyer Korea, and Posi Korea.
Industrial Bank of Korea will provide the selected companies with investment funding and a 12-week development program. The companies will first undergo four weeks of domestic preparation, including business assessments and mentoring. They will then receive support for entering the U.S. market through eight weeks at the IBK ChangGong Silicon Valley Center in the United States, featuring investor-relations presentations, meetings with partners, and institutional networking.
Lee Geon-hong, head of the Innovation Finance Group at Industrial Bank of Korea, stated, "I hope this program will help the selected companies strengthen their global capabilities and establish themselves in the U.S. market." He added, "We will continue to do our best to support innovative startups as they expand into global markets."
[email protected] Park Moon-soo Reporter