INNOPOLIS Foundation, To create Micro VC Fund to promote Startup Business
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- Date 2019-01-09
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INNOPOLIS Foundation, To create Micro VC Fund to promote Startup Business -Creates startup dedicated fund over 15 billion Won in Daeduck INNOPOLIS in 2019 -Closes receipt of proposals till 9th February to select consigned management company |
□ INNOPOLIS Foundation (Director: Yang Seong-Gwang) announced that it earnestly creates the 4th INNOPOLIS Fund (Provisional name: Daeduk INNOPOLIS Micro VC Fund) for vitalization of technology startups and continuous growth.
ㅇ This fund will be created with a size of 15 billion Won or more and will invest based on Daeduk INNOPOLIS where startup demand is high and the fund for INNOPOLIS of other area will be gradually created according to necessity such as conditions and demand.
□ INNOPOLIS Foundation has established technology finance road map and continuously created INNOPOLIS Funds so that customized technology financing support would be available by stage of enterprise growth.
* [2016] Startup Fund→[2017] INNOPOLIS Public Technology Based Fund→[2018] Job Creation Fund No. 2
ㅇ Nevertheless, it decided to create startup dedicated fund due to the necessity to increase the venture investment in the technology startup business rapidly increasing in INNOPOLIS and supplement the empty investment gap of startup business.
ㅇ This fund has been designed to intensively invest in the startup business by the management company by significantly lowering the reference return rate and plans to invest 300 to 500 million Won per a startup business whose business operation age is less than 3 years.
□ In order to select the management company which will manage the 4th INNOPOLIS Fund (provisional name: Daeduk INNOPOLIS Micro VC Fund),
ㅇ INNOPOLIS Foundation will receive proposals till 8th February and complete selection of the management company till end of February and create the fund within this year trough attracting additional investors such as local government, etc.
ㅇ For this, it will hold a project presentation on 17th January with domestic venture capitals and the notice for selection of management company is available through home page of INNOPOLIS Foundation (www.innopolis.or.kr).
□ Yang Seung-Gwang, director of INNOPOLIS Foundation said, ”creation of Daeduk INNOPOLIS Micro VC Fund will be foundation of not only creation of high quality jobs in INNOPOLIS but also stable growth and creation of success cases of technology startup business, and we will use an effort to expand the virtuous cyclic eco system of technology based enterprises“
