The Ministry of Science and ICT has announced on the 4th that regular ‘contact-free IR briefings’ will be held starting this month among large corporations, venture capitalists, and policy financial institutions to support ventures and startups in the field of information and communication technology (ICT).
These briefings, which were originally intended last year to alleviate the difficulty of attracting investments due to COVID-19, has now become a major foothold in the venture and startup investment market.
The Ministry of Science and ICT plans to continue providing opportunities for attracting online investments to SMEs, arranging IR briefings for the first half of the year with four investor groups for ventures and start-ups. The investor groups consist of the following categories: wireless carriers, large conglomerates, Korean VCs, and international VC/global corporations, and select ventures and startups will have the opportunity to work with the operating institutions under the supervision of the investor groups.
Within the four categories, Born2Global Centre will be in charge of seeking suitable global VCs and organizations to hold 1:1 IR briefings with Korean VCs and startups to promote innovative technologies and services suitable for the international market.
Lee Seung-won, the Ministry of Science and ICT policy officer said, The ‘contact-free IR briefings’ with large companies and investors will provide an opportunity to attract investment and expand business opportunities for startups facing difficulties from COVID-19. With the emergence of new contact-free routines in this economy and society, various attempts are being made around the world, and our department is expanding upon such efforts with initiatives, such as the ‘contact-free IR briefings’.”